Failure is an Option
That's a weird title when most people would say that failure is not an option.
For Elon Musk, that was one of his options.
Has anybody seen the 60 Minute segment on Elon Musk?
One of his quotes during the interview was: "I though we would most likely fail..." "If something's important enough you should try. Even if you - the probable outcome is failure."
Elon Musk put all of his $180 million of proceeds from the sale of Paypal to Ebay on his new projects, Space X and Tesla.
Ambitious indeed, he went after markets that nobody else would dream of. He started a privately held space rocket company and in an electric car company. These are not easy companies to start and maintain. You have so many established car companies with deep pockets. You have the technical obstacles on both of these companies.
By 2007, he was broke. Space X had three failures, but the fourth flight was flawless and NASA awarded Space X with a contract. Tesla has also turned around and the stock price has now gained 450% in the past 12 months.
Lesson gained is that if we're afraid of failure and do not even attempt to do something to improve our financial circumstances, then life will not change and you will not learn from your failures. Elon Musk's space ship failed numerous times, but lessons were learned from those failures and they ended up refining and developing a working space ship.
Lessons were also learned from failures on the Telsa Roadstes until refining and redesign has brought more success to Tesla Motors.
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Top posting Daniel.
Indeed the most successful business leaders alive will no doubt tell you their greatest learning came from their failures. Moreover, failure is crucial for success, it is a ballanced partnership.
So, as you point out correctly ~ do not fear failure ~ embrace the helpful fellow, or success will be a stranger.
a person who never made a mistake never made anything.
I have led a very creative life...LOL
If the people who lived before us had not taken these type of chances, where would we be today?
What a comforting thought for all of us here. Some websites may become successful eventually, some members may find that their second website is successful whereas the first is not.... yes, failure is an option - and mistakes are there for us to learn from. Those who have never failed have probably not attempted much either.
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Good article, some of us have failed already and are still expecting success, we are working towards it. Thanks Daniel
Yes, and it would be a pity if we didn't learn from our mistakes.