Comments on: Don't Fear Failure, Learn from It

By: Permjot Valia

Permjot Valia — Thu, 29 May 2008 11:27:49 +0000

I like it as a post. much in line with my own way of thinking. As an investor I fail often more than i succeed. I just wrote about it http://www.businessangelblog.com/2008/learning-from-failure/.
Interms of Chpis point I think you are right. Multiple founders leads for greater diversification and reduced risk.

By: Chip Griffin

Chip Griffin — Mon, 31 Mar 2008 19:18:27 +0000

AJ- I think you are confusing the issue of control with being a founder. Even law firms have managing partners that make decisions on behalf of the partnership. But if a company doesn’t have multiple founders vested in the success of the company (rather than mostly their job), it will be hard for it to achieve greatness. Nothing is ever impossible, but look at Y Combinator and TechStars and notice that they focus on recruiting companies with multiple founders, as well.

By: AJ

AJ — Mon, 31 Mar 2008 16:55:16 +0000

Chip – great post. The only point I may quibble with is finding a “spouse” — this is a very difficult endeavor as I fully believe that, unfortunately, businesses are not synonymous with a marriage (there’s a couple key things missing) and ultimately someone needs to be the boss. This doesn’t mean a domineering entrepreneur with founder-itis, but it does mean that someone needs to hold the vision steady, set the cultural tone, and ultimately be the final say on decisions — where the buck stops. However I would agree that surrounding yourself with people (employees, advisors, board members) that are passionate, smart and ultimately willing to make their viewpoint known (not simply saying “yes”) is crucial to success.

By: Marty

Marty — Sun, 30 Mar 2008 21:25:40 +0000

Terrific post. I literally “Stumbled Upon” this post and I’m glad I did. Insightful observations and great lessons.

By: Chris Brogan...

Chris Brogan... — Sat, 29 Mar 2008 23:30:37 +0000

The lessons learned really give me something to think about. Thank you for this. I’m afraid of failure.

By: Feld Thoughts

Feld Thoughts — Sat, 29 Mar 2008 00:29:05 +0000

Learning From Failure

I haven’t written much in the Failure series lately, but I’ve got a doozy or two coming soon. In the mean time, Chip Griffin has a good post up titled Don’t Fear Failure, Learn from It. Definitely worth a click through to hear about his thr…

By: Steve Woodruff

Steve Woodruff — Fri, 28 Mar 2008 20:24:22 +0000

Good stuff! Here’s another path to failure – making the wrong turn. Sometimes, a company starts out well, then they get on a rabbit trail and…the wrong choice dooms them. Or, the miss the turn they should have taken!

By: Anonymous

Anonymous — Fri, 28 Mar 2008 20:16:00 +0000

Great post, as someone who is constantly tossing various startup ideas around in my head, this is helpful info. Thanks!

By: Jacob Morgan

Jacob Morgan — Fri, 28 Mar 2008 19:58:42 +0000

Wow, I just wrote a post about “making a case study out of nothing” a few weeks ago, that echoes this exact sentiment. Please give it a read and tell me what you think.
http://www.jmorganmarketing.com/making-a-case-study-out-of-nothing/
Jacob

By: Bill Mayer

Bill Mayer — Fri, 28 Mar 2008 18:16:26 +0000

Chip – spot-on! I often talk about embracing failure as a way to promote learning – of course, our language makes people uneasy at times. As an administrator, i find the word “failure” in itself can make staff very edgy, as so much of their compensation is related to performance.
I believe very strongly in positioning people for success. As a component of that, there needs to be a multi-faceted approach to embracing failure with compassion and command.
I’m on the road myself at the immediate moment, but i will reflect on these ideas and comments for more posting. Good luck next week.