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  • The upside of failure: Turning uh-oh into a-ha

    The upside of failure: Turning uh-oh into a-ha

    By Tim Walker
    Tim Walker
    Published: Jan. 27, 2010

    We all fail. Some of us linger over our failures, examining the wreckage of what might have been, while others sail on toward new ventures (and new failures) without being anchored to old regrets. Why do some people emerge from failure stronger? How do they recover from setbacks to reach new heights of success? What is the secret of the phoenix that emerges from the flames?

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    • Quote 2
      Anne said on Feb. 8, 2010 at 4:55 p.m.
      I have a feeling that Mr. Hoover is not telling the whole story. There is a high degree of pathological hubris involved with entrepreneurs who believe so much in themselves that they won't listen to reason and cut their losses early on rather that hope that things will turn around. My ex and I ran a very successful and profitable business when he decided it wasn't enough and he started two other businesses. He wouldn't listen to me early on when I showed him that those businesses were losing money and questioned the competence of his partners. He claimed to believe in them and truly believed that thing would turn around. I was the negative ninny who didn't know what I was talking about. Those partnerships bankrupted us. We had young children. The stress was unrelenting. Yup, "fun" doesn't describe it.
    • Quote 2
      Drew Carls said on Feb. 4, 2010 at 2:46 p.m.
      Enjoyed the article. Neat to have Mr. Hoover as the first entrepreneur-in-residence at the Herb Kelleher Center for Entrepreneurship in the McCombs School of Business.