Nov 222010
 
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In conjunction with the earlier post related to making a lot of mistakes quickly, you should not punish people (at least not severely) for “failure”.  Rather, you should encourage many small failures, which promote learning.  In fact, some would go as far as to say that you should reward small failures, since they are so critical to ultimate success.  I’m not sure if you are willing to reward failures in your enterprise, but you should certainly create a culture in which you and your employees feel comfortable taking risks.  As a good buddy of mine likes to say, “without risk, there is no reward”.  Creating such a culture often looks easy on paper, but proves very difficult in practice.  Given the controlling nature of most entrepreneurs and their perfectionist nature, most entrepreneurs and the people they surround themselves with don’t like to make mistakes.  It makes them feel powerless and inadequate.  These emotions must be overcome however, if you are to accelerate progress in your venture by encouraging small failures, which if used properly, can lead to more rapid success.

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