In last week’s post, I wrote about was “failing fast” for strong innovation (linked). It is critical to become comfortable with doing brand new things, taking risks and yes, failing, if you want to be more successful and grow.
Experimenting!
One way to minimize the negative feelings that come with failure is to take an “experiment” approach. If you think of it as an experiment and let go of your attachment to the need to be successful then you can relax into the process and learn from what works well and what needs to be adjusted for a better outcome. Or if the outcome is great then your experiment turns into your new process and you now have a success! The key is to get out there and experiment! If your ideas remain only on the page then you are stuck and your failure is in not taking the leap.
Data is Key
The key to failing fast is synthesizing the data from your experiment. How will you collect the data in a timely manner so that you can minimize a negative impact and make adjustments quickly? When will you know if you have enough data? When do you stop the experiment completely and realize that a complete re-start is needed? It is important to think through your experiment criteria and the process for analyzing your data before you start so that you have a good plan.
Avoid Analysis Paralysis
Years ago I was in a great leadership development class that included a game where our team had to figure out how to gather some key information and then launch off on our ship to an island for implementing the game. My small team was the only one who never left the shore. We were stuck in analysis paralysis; very embarrassing! The best entrepreneurs do not spend a lot of time in market research; they spend some time in understanding what customers need and then go try it. Take the leap and experiment!
How do you fail fast? Please share in a comment.
photo credit: hans.gertuwiz via Flickr creative commons