Why You Need to Fail!

OpenView invited our portfolio companies into a 2-day product management forum today, led by product guru Marty Cagan. Marty has a really practical approach to helping companies get the best possible product and I highly recommend his book, Inspired.

I have been pushing failure on the OpenView teams and portfolio companies forever (example here) and I was really happy to hear Marty talking about the need for failure in the product management process. The basic fact is that you won’t get the best product and development effort without failing!

More broadly, if you are working on creating competitive advantage, business growth strategies, and/or company development strategies, then you should be designing experiments that will lead to fast results so that you can fail (most) quickly, but also find and grow the best successes!

Marty played some clips from this Derek Sivers video below that are very compelling. It is 15 minutes long, but well worth the time! My strong view is that you won’t build a great company without failing a lot, and perhaps this video will give you the confidence and conviction to fail more often!

You might also like ...
Predictable Pitfalls of Founders and How to Avoid Them
Editor's Note: This article originally appeared in People + Strategy magazine here. We have romanticized founders having their “eureka” moments, writing their...
by Alisa Cohn
Startup Strategy
The Simple Secret to Getting Ahead in Tech
A couple of weeks ago, I read a fantastic article in the Wall Street Journal about Leyla Seka’s rise through...
by George Roberts
Startup Strategy
Using Empathy to Improve the Customer Journey
Empathy is key to improving the customer journey, but to develop it we need to get as close as we...
by OpenView