close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

If you have to fail, do it fast

Should entrepreneurs fail fast or not at all?

I do believe that with innovation and pushing of boundaries there are a lot of risks involved and the more risks, the higher the probability of failure, writes Shadi Banna.

0

February 13, 2013 12:01 by



There is always so much talk about how entrepreneurs need to accept failure and be ready to fail as they start their new ventures.

This is how the VC industry is built – all around the probability that most businesses would fail but that a very few set of investments would sky rocket and make the good returns.

I do believe that with innovation and pushing of boundaries there are a lot of risks involved and the more risks, the higher the probability of failure.

But I am worried that we are giving young energetic entrepreneurs the wrong message. We shouldn’t encourage them to pursue crazy ideas that are bound to fail. We should guide them through the mine field of starting up a business to avoid common mistakes, and should encourage them to learn how to take calculated risks.

The best approach to necessary failures as the entrepreneur tests a totally new concept or new approach is to fail fast.

This helps in being able to learn from the small failures, rebound quickly from them and iterate the innovation process without it killing the business.

So the message to Entrepreneurs: If you have to fail – fail fast, but better not to fail at all!

 

Shadi Banna is the Co-founder of Potential.com, a company aimed at developing entrepreneurial culture, training and coaching for SMEs and Start-ups in the region.



0

Tags: ,

Leave a Comment