Failure vs Success. What's the ratio?

Hello everyone! I'm happy to be writing about this. You wouldn't know how many things I've tried and learned from, like startups, projects, and even my own personal expectations (especially those, are ruthless)

Thanks to this article , I noticed it's more than just a problem of my own. 92% of people do not achieve their goals. (Whaaaat!!! ???? yeah, I've screamed and run in circles, too)

Failure is often perceived as a negative outcome, but in the realm of entrepreneurship and innovation, it is frequently a precursor to success.

Understanding how often people fail before succeeding can provide valuable insights into the resilience and persistence required to achieve one's goals.

Ok then... How many times do I need to fail before obtaining a Success? (yeah... I'm more anxious than you, trust me)

I've researched to determine the statistical minimum number of times we should fail before obtaining success. This number may vary depending on the situation we are trying to succeed in.

For example, in the business realm,

• Approximately 79.1% of small businesses in 2022 survived their first year. However, the survival rate drops significantly over time, with only about half of businesses reaching their fifth fiscal year and merely 1/3 celebrating their tenth anniversary. Fortunly
• In the Startup world, 90% of startups fail, with 10% failing in the first year and 70% between the second and fifth years. Codeless
• Only 30% of digital transformations met or exceeded their target value and resulted in long-term change, classifying them as successful Soocial

And for your personal goals (yeah, those you set in New Year's eve) are only achieved by 46% of the people who put them. Elevation Vibe

Awesome! So, how do we reduce our failures and boost our successes? What's the secret, key, magic, mojo, or whatever you want to call it?

From my readings, I've found that learning fast is the key.?The learning threshold is crucial. Those who surpass it retain enough lessons to achieve success. This emphasizes the quality of learning from failures, not just persistence.

We may now dissect "Learning Fast" into:

• Shifting perspective: Feeling a looser, doomed. Or do you believe you've found a way that doesn't work? (A guy said he found 10,000 ways to don't work before succeeding in what he was after. His name was Thomas Edison ??)
• Emotional Intelligence: Before learning the hard facts, one needs to learn and manage emotions such as frustration, anger, and sadness.
• Fostering a culture of innovation: In organizations (even groups), creating an environment where team members feel safe to share their failures and collaborate on finding innovative solutions.
• Emphasizing Rapid Prototyping and Pivoting: By this, I don't only mean deploying new versions of high-tech platforms. Didn't like the outcome of a personal project? Could you answer what you will change about yourself on your next try (your own 2.0 version)?

Writing this has moved parts deep inside me. We might learn further from failures than from reading about successes.

Have a look at organizations like?Fuckup Nights, ?where people share their failures (I could even say disasters sometimes).

BTW, I've found this TED talk by Madeline Wood at TED Conferences

I'll go to bed thinking about failures (or, I shall call them, lessons).

Thank you, friends, and let's fail fast. Or should I say, learn fast?

#success #failure #learn #digitaltransformation #fuckup