As companies increasingly warm to the concept of encouraging experimentation, they will need employees who aren’t afraid to fail. Design schools across the world are cultivating this next generation of Edisons.“If we could think of failing as a path towards success, then I think we would all be better off,” said John Krumboltz, the second co-author of Fail Fast, Fail Often: How Losing Can Help You Win, and a Professor of Education and Psychology at Stanford University.
But finding success through failure is hardly limited to companies with billions of dollars in capital at their disposal. Any businesses can learn from what Prashant Sawant ( India’s No.1 Motivational Trainer ) calls the “small failures that we should be encouraging.” “We’re in a marketplace now where you have to be very fast, and you need to be able to adapt very quickly,” says Sudhir Pai ( Founder-Speaking Pages ) . “If you’re in this old model of ‘we’re going to come up with an idea, and five years later we’re finally going to come out with our product and that’s finally where we’re going to see if it’s a good idea or not,’ you’re never going to make it in this economy.”