noble Failure

Feedback – Your Elevator To Success

     

 

Vadim Kotelnikov advice quotes

In radical innovation, every step forward is a step into terra incognita where failures are teachers and opportunities are guides

Vadim Kotelnikov

Vadim Kotelnikov, founder of 1000ventures - personal logo   Business e-Coach   Innompic Games icon

Richard Branson business advice quotes

You don't learn to walk by following rules.
You learn by doing, and by falling over.  >>>

Richard Branson

Virgin Group

Thomas Edison advice quotes invention discovery

I have not failed 700 times. When I have eliminated the ways that will not work, I will find the way that will work.

Thomas Edison

IDEO Tom Kelley creativity innovation quotes

Good companies embrace a culture of mini-failures. Setbacks aren’t problems, they’re opportunities.

Tom Kelley

IDEO

 

 

   

 

Failure as a Stepping Stone To Success

Learning SWOT Questions

 

 

Case Studies Abraham Lincoln

Failed in business in '31.

Defeated for the legislature in '32.

Again failed in business in '34.

Sweetheart died in '35.

Had a nervous breakdown in '36.

Defeated in election in '38.

Defeated for Congress in '43.

Defeated for Congress in '46.

Defeated for Congress in '48.

Defeated for Senate in '55.

Defeated for Vice President in '56.

Defeated for Senate in '58.

Elected President in '60... This man was Abraham Lincoln.

Case Studies Jacuzzi

In the 1950s the Jacuzzi brothers invented a whirlpool bath to treat people with arthritis. Although the product worked, it didn't sell well. Too few people in the target market, sufferers from arthritis, could afford the expensive bath.

The Jacuzzi brothers treated that failure as a feedback, learned from it, and re-launched the same product for a different marketas a luxury item for the wealthy. It became a big success.

  

 

Case Studies   Charles Schwab

Charles Schwab journals their failures and lessons they've learned. They maintain also a display of failed innovations and created a videotape for employee orientation. When celebration of noble failure becomes institutionalized, people within the organization are more willing to reassess earlier decisions and take corrective measures... More

Case Studies Microsoft

 

Bill Gates advice

Many costly Microsoft product failures provided the learning and opportunity for development of many of Microsoft's biggest successes.

Bill Gates

Micsosoft

 

 Examples include:

  • Many apparently wasted years working on a failed database called Omega resulted in the development of the most popular desktop database, Microsoft Access.

  • Millions of dollars and countless hours invested in a joint operating system project with IBM that was discontinued led to the operating system Windows NT.

  • A failed multiplan spreadsheet that made little headway against Lotus 1-2-3 provided learning that helped in the development of Microsoft Excel, an advanced graphic spreadsheet that leads the competition.

     

       

      

Case Studies Dell Inc.

"At Dell, innovation is all about taking risks and learning from failure," says Michael Dell, the Founder & CEO of Dell Inc. "Today, we're well known for inventory management, logistics, supply chain management, and such, but that wasn't always the case. Back in 1989, we had a very large disaster – large, at least, for the small company we were at the time. The personal computer industry was making the transition to a new type of memory chip, and we found ourselves stuck with far too many of the old kind.

That was a costly mistake, and it took us about a year to recover, but we learned from it. The failure led us to develop a new way to manage inventory, and we went from being last place in the minor leagues to where we now win the World Series every year."   

   

 

 

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