Pic by Matthew Henry

The importance of failure

This post originally appeared on Virgin for their purpose-driven business series

Post-its used to get a damn good workout at Escape the City

Progress will often look like a lot of failures and you learn what doesn’t work in order to get to what does.

Photo by Juan Jose

Here are my five top tips on fighting failure and getting back on your feet:

  1. Learn to get comfortable with failing fast and smart by adopting the mantra that “success is merely the hangover of failure” (Marc Ecko).
  2. Keep a journal or blog to record results from past experiments, but ultimately keep your focus on the future. Don’t spend so long looking back that you forget to move forward.
  3. Surround yourself with positive, like-minded supporters who challenge you to focus on the lessons gained as opposed to fixating on the opportunities lost.
  4. Take time to reflect on quarterly or annual milestones with a neutral third party — this can help you to recognise that the painful periods are the ones in which you grew exponentially.
  5. Always try to address the root cause of failure. As Warren Buffett said, “Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”
Photo by Willian Justen de Vasconcellos

Top five sources of information

  1. The Lean Startup, by Eric Ries. This revolutionary book argues that failure is part of “validated learning” — a product development methodology that embraces business-hypothesis-driven experimentation.
  2. Why You Don’t Fail When You Fail, by Chris Reed. The founder of beverage company Reed’s Inc talks about why failure can be perceived incorrectly.
  3. Success Is Merely the Hangover of Failure, by Mark Eckō. The founder of Marc Eckō Enterprises explores how incremental failure can lead to real success.
  4. Why Success Always Starts With Failure, by Sarah Rapp. An interview and summary of economist and Financial Times columnist Tim Harford’s book Adapt: Why Success Always Starts With Failure.
  5. The power of vulnerability, by Brené Brown. Brené Brown shares a deep insight at a TED event from her research, one that can help us understand ourselves and embrace our humanity.



Writing stories (www.adelebarlow.com) and helping companies tell theirs (www.copyand.co)

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