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Showing posts from March 27, 2013

You Learn More From Failure Than Success.

Scanning through a science report data base, I came across the results of a study that concludes something experienced business owners surely would agree on:  "While success is surely sweeter than failure, it seems failure is a far better teacher, and organizations that fail spectacularly often flourish more in the long run."
". . .failure is a far better teacher."
This according to Vinit Desai, assistant professor of management at the University of Colorado Denver Business School in a study published in the Academy of Management Journal back in 2010.  Working with Peter Madsen, assistant professor at BYU School of Management, Desai found that organizations not only learned more from failure than success, they retained that knowledge longer.

"Whenever you have a failure it causes a company to search for solutions and when you search for solutions it puts you as an executive in a different mindset, a more open mindset," said Desai. 

Neophyte entrepreneurs …