Why Failure Must Be On The Table
There’s so much glory built around the potential for failure in the world of entrepreneurship.
At least in VC-backed tech, you’re not really an entrepreneur (not my assessment) until you’ve lived through at least one big flame-out. The lack of this experience, some even say, might be a barrier to funding because the smart money wants to know you know how to weather a storm before entrusting you with another tranche of other peoples’ money.
VC’s and angels know 5 out of 10 investments will evaporate. Three in 10 will break even. One will do okay. One more will do really well. And one in a hundred or a thousand will be the next twitter. Founders know this, too. Everyone’s betting on the monster hit that will make up for the dogs 1,000 times over. In that world, failure is an accepted and even mandatory part of the path to success. Just part of the game.
But what about the world of everyday mortals?
Bootstrap entrepreneurs and artists where what’s on the line is what’s in your bank account, your credit card or line of credit? Where it’s not so easy to walk away from a big mistake? Is the potential for failure still an important, even mandatory part of the equation?
Answer. Much as we wish it wasn’t so. Still, yes.



He built the second largest boutique hotel group in the world, Joie de Vivre…then flatlined on stage while giving a keynote before thousands.














