Culture that tolerates Failure

Many startups never make it to the payoff at the initial public offering. They simply fail. For several reasons such failures stop neither the entrepreneurs nor the venture capitalists who finance the innovations. First, those who fail learn in the process, and this can improve their chances of doing well the next time around. They acquire competences that can be used to tackle another innovation. Even if all they learn is what not to do next time, that can be useful too. Second, venture capital firms have seen many failures before and have found away to reduce their risks by, for example, offering management expertise to ventures. Moreover, some of the venture capital comes from entrepreneurs who had made it only after having failed before.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight

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