Importance of Entrepreneurial Failure

In this video, I outline the importance of failure to the entrepreneurial process.

Description
In this video on the importance of entrepreneurial failure, I outline and explain why and how failure is vital to the entrepreneurial process. I discuss current statistics on entrepreneurial failure rates of new ventures. I talk about the experiences that entrepreneurs have when they fail and how this can impact their mental health. I talk about the experiences that my former entrepreneurship students have had around entrepreneurial failure. I talk about their fears. Using my entrepreneurship research academic experiences, I discuss the relationship between failure to entrepreneurial success. I outline the importance of failure to entrepreneurial success. I provide examples from my own work experience of the lessons that can be learned from failure. In particular, I share an example of a new market entry in the snack food business. I talk about this failure and what important lessons I gained from this failure. I share how this failure has helped me in my career. I further use data from my academic research on failure to the entrepreneurial process. In particular, I share the views of some of the most successful entrepreneurs in Canada on failure. These entrepreneurs involve for Dragons on the hit television program CBC's The Dragon's Den.

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