I believe in celebrating failure, redefining it as a positive, seeing failure as a sign of progress. Apparently, Scott Westcott at the National Federation of Independent Businesses agrees, at least a little. His article, The Fruits of Failure, explores some examples, and encourages giving failure awards, and I applaud him for researching and writing it.
Unfortunately, Westcott comes off as timid. Tom Watson’s admonition to double your rate of failure to achieve success worries him:
While doubling a failure rate could doom many small businesses, allowing for some strategic failures could end up boosting your business and employee morale.
I think Westcott is wrong on this point. Doubling the failure rate does not spell doom. Doubling the failure rate means doubling the activity rate for innovation. Unless there is something fundamentally wrong, that means doubling the success rate, too.
Rural entrepreneurs can’t afford to be timid. The enemy of small town businesses isn’t failure; it’s stagnation.
- Small town business idea: cat grooming - November 15, 2021
- Community engagement planning: old way vs. Idea Friendly way - October 3, 2021
- Boost your maker economy with a “Made in” day - September 17, 2021
- How a ghost town made something from nothing with a folk festival - September 3, 2021
- Rural business idea: sell foraged fruits and more - August 3, 2021
- Best practices for rural housing - July 19, 2021
- How to be more open to new ideas #IdeaFriendly - July 3, 2021
- Market your small town as a movie filming location, attract movie and game fan tourists - June 28, 2021
- Survey of Rural Challenges 2021 results, analysis of themes from 2015 through today - June 7, 2021
- What makes a small town a micropolitan or nanopolitan? - May 22, 2021