Comments on: The Best Entrepreneurs Know How To Fail Fast

By: Fail fast and prosper | Into The Mountain

Fail fast and prosper | Into The Mountain — Mon, 22 Feb 2010 21:38:47 +0000

[...] If you want to hear more about why it’s better to ‘fail fast’ than to cling on to a ride going nowhere, Mark Pincus who founded Tribe which was a bit of a slow fail, and who learned what needed to be learned and has gone on to found and lead Zynga – has some good lessons to teach. You can see him interviewed here. [...]

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By: mmo

mmo — Sat, 21 Nov 2009 12:21:11 +0000

I guess it makes sense – if your idea doesn't pan out – just give up!

By: I Can Be Innovative or Efficient… Not Both — hallicious

I Can Be Innovative or Efficient… Not Both — hallicious — Tue, 10 Nov 2009 10:08:40 +0000

[...] vs. efficiency The two don’t go together. Period. For every guru talking about failing fast, you have five middle managers second guessing your progress, your methodology, and demanding to be [...]

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By: Learning to fail: Startups aren’t really trying unless their failing « Nickpoint

Tue, 21 Jul 2009 15:23:29 +0000

[...] startup try again after failing? Startup failures can be small or catastrophic. The thing is to overcome failures quickly. Lessons must be learnt. Otherwise the same failures will be repeated again and again. Failure will [...]

By: Failure in context | Colorado Startups

Failure in context | Colorado Startups — Fri, 05 Jun 2009 05:42:17 +0000

[...] I’ve never once come across this attitude, but I suppose it could exist. In clear contrast, Brad Feld has said that his favorite entrepreneur to invest in is a successful one coming off a recent failure. This [...]

By: Brock Predovich

Brock Predovich — Mon, 01 Jun 2009 23:26:57 +0000

Brad, awesome post and many thanks. Fail Fast! Today I read this and was at first perplexed. Failing fast doesn’t seem linked to good entrepreneurship. I thought, "if you fail fast, that means your idea was a bad one from the start and should have never been attempted. You’re not a good entrepreneur if you fail fast." However, I thought about it more.

We entrepreneurs are predisposed to attempt things that others call crazy, stupid, and 'can't be done.' It is natural that such personalities would sometimes attempt things that ARE crazy and succeed while also venture into projects that ARE stupid and fail. It is our nature. Sometimes we win, sometimes we lose. Given time it will happen to us all.

Therefore, Fail Fast is saying; "what separates good entrepreneurs from bad entrepreneurs is the ability to recognize a stupid idea even after months of work, sunk costs and tested relationships and say “this isn’t going to work,” “this is stupid” and at that point stop or adapt, rather then stubbornly and stupidly continuing on. Good entrepreneurs are not stubborn and they don’t let their egos and identities get involved in their ideas, projects or businesses. They pursue the impossible, but when too many cards stack against them they have the experience or instinctive logic to stop or adapt what they’re doing and move on to something else, take what they’ve learned and succeed.

With a failure, the dream of success does not die, just the path you take along the journey.

Brock Predovich
http://brockpredovich.com

By: An Entrepreneur Three Core Values | Bits And Buzz, by Jeremy Chone

An Entrepreneur Three Core Values | Bits And Buzz, by Jeremy Chone — Thu, 21 May 2009 16:48:40 +0000

[...] The first one, Sportner, did not work as expected and, thanks to some discipline, I managed to fail fast. Learning from this great experience, I am co-starting a new one, http://www.intellijuris.com. I will [...]

By: 4 Logical Reasons to be Persistent « TIME TO GET STARTED

4 Logical Reasons to be Persistent « TIME TO GET STARTED — Wed, 20 May 2009 05:06:19 +0000

[...] Why VCs are especially interested in proven entrepreneurs that have just failed is covered here by Brad Feld. Hunger [...]