Good Failure

Good Failure

Good Failure Jonathan Poland

Good failure, also known as productive failure, refers to the idea that failure can be a valuable learning experience and can lead to future success. This concept is based on the idea that failure is an essential part of the learning process, and that it is often through failure that people learn the most.

Good failure allows people to take risks, experiment, and try new things without fear of negative consequences. This can lead to innovation and creativity, as people are more willing to explore new ideas and approaches. Good failure also encourages a growth mindset, where people see challenges and setbacks as opportunities to learn and grow, rather than as failures. Some concepts include failing often, failing cheaply, failing quickly, and creating a fast feedback loop to learn from.

Examples of good failure include:

  • A student who struggles with a difficult math problem and spends time working on it, ultimately learning a new concept or method that they can apply to future problems.
  • An entrepreneur who starts a business and fails, but learns valuable lessons about what worked and what didn’t, and uses that knowledge to start a successful business in the future.
  • A company that experiments with a new product or service and fails, but learns valuable insights about customer preferences and market trends that they can use to develop more successful products in the future.
  • A team that fails to meet a project deadline, but learns valuable lessons about project management and team dynamics that they can apply to future projects.

Overall, good failure is an important concept that can help people and organizations to learn from their mistakes, innovate, and achieve success in the long term.

Learn More…

Collectables Jonathan Poland

Collectables

Collectables, also known as collectibles or antiques, are items that are valued…

Brand Equity Jonathan Poland

Brand Equity

Brand equity refers to the value that a brand adds to a…

Product Quality Jonathan Poland

Product Quality

Product quality refers to the inherent characteristics of a product that determine…

Risk Awareness Jonathan Poland

Risk Awareness

Risk awareness refers to the extent to which people or organizations are…

What is the Snob Effect? Jonathan Poland

What is the Snob Effect?

The snob effect refers to the phenomenon of a brand losing its…

Budget Variance Jonathan Poland

Budget Variance

Budget variance is the difference between the budgeted amount and the actual…

Risk Estimates Jonathan Poland

Risk Estimates

Risk estimates are predictions or projections of the likelihood and potential consequences…

Design-Driven Development Jonathan Poland

Design-Driven Development

Design-driven development is a product development approach that places a strong emphasis…

Call To Action Jonathan Poland

Call To Action

A call to action (CTA) is a phrase or statement that is…

Jonathan Poland © 2023

Search the Database

Over 1,000 posts on topics ranging from strategy to operations, innovation to finance, technology to risk and much more…

What is Baseline? Jonathan Poland

What is Baseline?

A baseline is a reference point or starting point that represents the…

Premiumization Jonathan Poland

Premiumization

Premiumization is the strategy of offering higher-quality products or services that consumers…

Competitive Factors Jonathan Poland

Competitive Factors

Competitive factors are external forces that impact a business’s strategy. They can…

Brand Switching Jonathan Poland

Brand Switching

Brand switching refers to the act of a customer switching from a…

Dispute Risk Jonathan Poland

Dispute Risk

Dispute risk refers to the potential for a disagreement or conflict to…

Internet of Things Jonathan Poland

Internet of Things

The Internet of things describes physical objects with sensors, processing ability, software, and other technologies that connect and exchange data with other devices and systems over the Internet or communication networks.

Market Failure Jonathan Poland

Market Failure

Market failure is a situation in which the market does not produce…

Customer Satisfaction Jonathan Poland

Customer Satisfaction

Customer satisfaction is the practice of measuring how happy customers are with…

Incident Management Jonathan Poland

Incident Management

Incident management is a process that involves the organization and coordination of…