There is a culture of failure inherent in entrepreneurship and in intrapreneurship (entrepreneurship within a larger organization or company). This culture is summed up in Silicon Valley’s startup mantra of “Fail fast. Fail often.” Failure is often celebrated by entrepreneurs and innovation experts as a way to get to success. A badge of honor to testify that they tried and failed before getting to the next big idea.
There is truth in this concept: in order to create something new or make unexpected connections between things, one has to embrace failure. In education, embracing failure is fundamental for students to take risks with their learning and the way they see the world and interact with it.
Should failure be celebrated? What happens when failure has tangible financial and opportunity costs for business not to mention its impact on entrepreneurs, their families and their friends. What happens when we have different ideas of failure? Has someone failed just because they don’t fit in with what society wants from them?
One of the best analogies of entrepreneurship is: “Starting a business is a lot like jumping out of an airplane and assembling the parachute on the way down.” But what happens around the entrepreneur?
In a series of articles, I will explore the question of failure and entrepreneurship and share with you stories from the entrepreneurship (and intrapreneurship) scene around me. Check out the hashtag #resilientwife to find out more about this new endeavor of mine.
Obviously, entrepreneurs want to talk about failure in the context of success – a sort of rite of passage or journey to creating something of value. Understandingly, no one wants to be defined as a failure or be told that their business is a failure. Here lies the challenge…to represent failure, entrepreneurship and resilience accurately.