education Archives - Hall of Giants

Failure is feedback.

FROM THE TEAM

Failure is feedback.

Almost without exception, entrepreneurs buck this instinct to shy away from risk. It’s not that they’re gluttons for punishment. Rather, entrepreneurs have a superpower: they see failure as feedback. To the entrepreneurial mind, falling short of a goal produces all kinds of inputs. Those inputs let us adjust the factors within our control, help us shape our judgment, and influence our future decisions. A creative and intuitive salesman, Wrigley began including two free packs of chewing gum with his soap – a way to set himself apart from his competition and endear himself to customers. Despite tight margins, Wrigley made the gum trick work. The business grew fast.