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.
Congress in '43.
Defeated for Congress in '46.
Defeated for Congress in '48.
Defeated for Senate in '55.
Defeated for Vice President in '56.
Senate in '58.
Elected President in '60... This man was
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
– as a luxury item for
the wealthy. It became a big success.
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
noble failure becomes institutionalized, people within the organization
are more willing to
reassess earlier decisions and take corrective measures...
Many costly Microsoft product failures provided the learning and opportunity for
development of many of Microsoft's biggest successes.
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
innovation is all
taking risks and learning from failure,"
says Michael Dell, the Founder & CEO of
Dell Inc. "Today, we're well known for inventory
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