Fail Fast. Game Over?

5/8

The unprecedented rise of entrepreneurship faces the paradox of failure: although conditions for launching one’s business have been improving, 90% of startups still fail. However, according to lean methodology, failure is not necessarily a bad thing. In fact, the lean startup model is based on the fail fast principle. In practice, this means that lean startups aim to get out of planning mode into testing mode as soon as possible. This approach helps determine which hypotheses are crucial for implementing their business ideas. Paradoxically, early-stage failures can help entrepreneurs succeed faster in their next ventures if they draw the right conclusions.