Samuel West of the Museum of Failure talks about how not all failure is created equal.
Dr. Samuel West is a licensed clinical psychologist and specialist on organisational psychology who is also the creator and curator of the Museum of Failure, a travelling collection which displays corporate products that bombed commercially but which represent something far more important: the willingness to fail.
Anyone working in business development, venture capital or any field of innovation will know that an unwillingness to risk failure effectively means the death of innovation. Without the appetite for risk and the understanding that not every initiative will be successful, you’re left with an incredibly narrow path to creating anything new.
So, what lessons can we draw from our own failures and those of others? Dr. West talks about the differences between good and bad failures, how organisations are not that different from individuals in terms of how they view and deal with failure, and the importance of creating a psychologically safe environment where missteps are not punished. He also reveals how he put this impressive collection of corporate relics together, including through donations from companies that had previously given him the cold shoulder.
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Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
