Questions

As a member of the VC community I can bring my investor perspective. In general I see failure as part of the development process of every startup in its path to either greatness or doom. Every startup requires the team to be open to failure, so long as not fatal, because issues will inevitably arise at different stages. The difference between a startup in which failure is embraced and dealt with lays in the fact that good startups are quick at recognizing failures (before they become dilemmas) and testing solutions to solve those issues. This is reflected in the mindset of the founding team. For example, a new feature just released in an app can be a failure as it fails to generate new customers, increase usage etc etc., but generally the good team will be fast in understanding it and come out with an alternative solution. On the contrary, tolerance for failure leads to dilemmas (and toxic environments) when a) the failure is not recognized and the team is not receptive or willing to implement a solution and b) the failure is major and there is nothing to do to save the startup. The example in this case would be that the team invests an consistent amount of money in a failing product or feature without testing it and leading the firm into the ground financially.
Happy to have a call to discuss further!


Answered 3 months ago

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