Failure used to be a private affair, like eating peanut butter from the jar or dancing in your underwear. Now, many founders wear their failures as a badge of honor. From confessional blog posts to gatherings like startup funerals and FailCon to podcasts and online communities, entrepreneurs have taken the “fail fast, fail often” mantra to heart.
“Failure teaches self-confidence and tenacity,” FailCon founder Cass Phillipps told Entrepreneur in 2014. “There are people who fail and take it very, very personally, and that makes it hard to recover from it… We tell people ‘Don’t take this so personally. Failure’s actually really great.’”
Statistics show that 70 percent of new tech companies fail, usually about 20 months after their first financing round. A staggering 97 percent of seed- or crowd-funded consumer hardware startups will also fail.
These figures make me wonder: What role does failure play on the road to success? And how much failure is too much?
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