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Failure is Critical to Innovation

Don’t Write off a ‘Failed’ Entrepreneur

Entrepreneurship, especially innovation-focused entrepreneurship, is very much like science—involving a series of experiments that can bring something new and valuable into the world. You cannot learn what product or idea will work without being willing to discover what won’t work. Failure is critical to innovation. To fail doesn’t mean failure. It means there’s a chance for success.

This is known by every successful entrepreneur, most of whom have business “failures” in their portfolios. “Failure” is critical to innovation entrepreneurship.

At the University of Chicago Booth School of Business you can become the leader you aspire to be. Click to know more about the Chicago Booth Accelerated Development Program (Chicago Booth ADP).

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