Entrepreneurs Reframe Failure as Intentional Iteration - Adapt the Idea & Live? | Change Leadership Watch | Scoop.it

Failure.  It’s a harsh word.  No one enjoys failure.  No one ever really says, “Hey, I really want to fail today so I can learn.”  

Yet failure is an inevitable part of human existence and it plays a central role in the mindset of an entrepreneur.  Without failure there is little forward progress; without failure innovation is rather incremental; without failure there is no reason to celebrate success.

Entrepreneurs are taught to embrace and expect failure because the entrepreneurial path is rarely smooth or predictable.  Failure in this context, however, is not business failure.  Who wants that?  The fear of business failure paralyzes even the best potential entrepreneurs. 

Failure in the entrepreneurial vernacular is reframed as intentional iteration and experimentation.  It’s not failure in the catastrophic sense.  Failure is simply a portfolio of setbacks, false starts, wrong turns, and mistakes that are expected and tolerated because the entrepreneur purposefully iterates in order to gather new, relevant, and timely information. 


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There is one fundamental truth in entrepreneurship.  All ideas change.

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Through iteration entrepreneurs seek not to kill an idea but to make it better, and this happens through an anticipated cycle of pivoting and adapting.
 


There is one fundamental truth in entrepreneurship.  All ideas change.