Fail to succeed: even in crowdfunding

September 22, 2011 § Leave a comment

Have you seen that Nike commercial where Michael Jordan tells you why he succeeded? The ultimate point is that one has to fail numerous times on order to finally succeed. This fact is hard to dispute as I have not yet met an accomplished person who managed to succeed in everything (s)he did over and over and over again.

As the story goes, a failure to protect his bike from theft pushed Mohammad Ali into boxing.

Mohandas Ghandi failed to secure his already-paid first class seat in South Africa and was subsequently thrown off the train. This “minor” incident ultimately paved a way to Ghandi overthrowing British rule in India.

A recent study by MIT suggests that allowing scientists to fail also increases their chances to come up with breakthrough scientific discoveries.

The list can go on indefinitely, the main point is clear – one should fail and be allowed to fail in order to succeed.

Now, wouldn’t you agree that same rule holds for crowdfunding? Of all the new platforms and initiatives that are appearing today, many will fail. I hope that some of those that fail will learn their lot and will find strength and desire to make their next initiatives successful. Experience of failure is what crowdfunding lacks today.

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