Failures tend to disappear from business education curriculum? Information about business failures is often scarce or ignored completely, yet it is inevitable. On the other hand, information on successful companies and their success strategies is in generous supply.
Companies that pursue unsuccessful strategies either change their business strategies or they go out of business. A successful company is described as having used visionary management and innovative marketing strategies while a failing business is accused of poor business management and overall bad business skills. So why don’t we teach future entrepreneurs more about failure? Wouldn’t that save us a ton of money from mistakes that could have been avoided in the first place? What do you think?
September 24, 2008 at 3:26 pm |
Great post! I agree that and would add that failure is actually an integral part of being a business owner. No one ever gets it perfectly right the first time and it’s the ability to bounce back and learn from mistakes that really makes a successful business person!