Archive for June, 2016

Failure and Success go hand in hand

Tuesday, June 28th, 2016

Fact is that the road to Success is paved by Failure. “Failure” has come a long way from its 19th century origins as a synonym for Bankruptcy. Failure is a matter of perspective, and successful people or corporations can measure themselves against unmet goals and consider themselves failures. An example in the Biomedical field is the Mayo Clinic, world-renowned for their innovation and quality of care. Internally, they felt their Research wasn’t breaking enough new ground. So they created the “Queasy Eagle Award”, recognizing experiments and projects that were interesting and well-designed but ultimately unsuccessful. They got rid of the taboo of failure, and they exponentially grew the number of patents compared to the previous 18 months.  When the clinic recognized and valued their “near wins,” these failed experiments could become crucial steps in other, successful journeys. Think of your most recent effort that fell flat. What can it tell you? How can you use it to pivot to a new goal, or move you closer to the original? In 2000, physicist Andre Geim was awarded an Ig Nobel Prize for the apparently useless exercise of levitating a frog in a powerful magnetic field. A decade later, in 2010, he and Konstantin Novoselov won the Nobel Prize for isolating graphene, a one-atom-thick material that’s rapidly replacing silicone in countless applications. Lewis sees a direct connection between “the insouciance it took to levitate a frog” and the willingness to pursue the unlikely idea of isolating a two-dimensional object in three-dimensional space. Graphene was discovered during the “Friday Night Experiments” Geim and Novoselov hold at the University of Manchester, in the United Kingdom. It’s lab time set aside for unfunded, and unlimited, experimentatios – scientists at play. Unfortunatelly, we incentivize Creativity and Innovation by reducing the cost of failure, by creating safe spaces and comfort zones for exploration. In my personal experience, I had lots of failure in my personal and professional life. As a scientist, frustration and failure are words I would remember on a daily basis. Today I know that approximatelly 10-20% of what a scientist does in a lab works, with a high rate on failure. This could be explained by the idea that we are always risking in the “unkown arena” – things nobody discovered yet or build a hypothesis on. Lots of hypothesis are thrown away because what we expect is not the reality. The same is true in the entrepreneuship arena: we need to take risks and we will fail for sure. It is very difficult to “get it” at the first time. That is why we all see the expression “serial entrepreneur”. This is somebody that tryed more than once to build a company and failed. At some point the process of building the company worked and then the success came. Failure and success are always hand in hand. I’ve learned a lot with all my failures as a Scientist and as a serial Entrepreneur; however one thing I can say – it is never easy to realize something dind’t work or is not working and failure is coming. In the begginning, I was always blaming myself asking – is that me? Am I that bad at what I do? Believe me, this is normal. It is not you. It is mostly because it was not the right timing. My advice is keep trying and pushing and do not quit. There are two quotes from Thomas Edson about the thin line between failure and success: “I have not failed. I’ve just found 10,000 ways that won’t work.” and “Many of life’s failures are people who did not realize how close they were to success when they gave up.” So, my advice is if it did not work today, keep trying…