“Failure is an option here. If things are not failing, you are not innovating enough.” Elon Musk

According to Wikipedia: Failure is the state or condition of not meeting a desirable or intended objective, and may be viewed as the opposite of success. The criteria for failure are heavily dependent on context of use, and may be relative to a particular observer or belief system. A situation considered to be a failure by one might be considered a success by another, particularly in cases of direct competition or a zero-sum game. Similarly, the degree of success or failure in a situation may be differently viewed by distinct observers or participants, such that a situation that one considers to be a failure, another might consider to be a success, a qualified success or a neutral situation.

We think you need to fail from time to time. in order to learn and innovate. All those failures may lead up to one big achievement. All those failures can also teach you a tremendous amount. Miracles don’t happen. If they do, it’s one in a million. You have to not only work, you have to work hard. You need to hustle. You have to put yourself out there. And with work comes disappointment. The more you work, the more instances you have for disappointment.

So yes, failure is necessary and will happen if you are truly taking the risks you need to take to make it. But in order for it to be sustainable you need to make sure it has the following characteristics:

• Have small and manageable failures.

A very big failure can also be catastrophic for your business as you may not recover.

•  You have to track your failures in order to know what NOT to repeat.

All failures have to be quantified. You will be able to anticipate solutions, next time you start noticing the same patterns.