In Fast Company Magazine, Expert columnist Valeria Maltoni talks about several key lessons that can be learned from failure. For most people looking to create new products or dive into new innovation never before used, it is likely that they will not once, but many times, experience failures before success. This is a good article to remind innovators that what seems to be a failure may actually be helpful in the lessons it helps teach and ideas it sparks to help light the road to the success. Check out the full article here.
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I thought this was a good list to pinpoint on certain issues and provide a quick reference on things to keep in mind in regards to innovation and failure.
The tips list is very applicable to the MarkstratX simulation that we played. Specially for my group, we learned that taking risks can (and did) pay off big and that a small marketing budget can (and did do) wonders. Seize all opportunities.