Entrepreneurship: learning to fail in order to succeed

Learning to fail is not a subject at school, yet it's essential for success. In our performance-oriented society, valuing failure is not an easy thing to do. Most people are afraid to make mistakes and let their weaknesses show.

To understand resilience, the first step is to learn to change our perspective on our failures. This mindset is illustrated by this quote from Michael Jordan: "I've missed 9,000 shots in my career. 26 times, I was trusted to take the winning shot and I missed. I've failed over and over again in my life. And that's why I succeeded."

Entrepreneurship is a profession that can be learned, just as one can learn to become a surgeon. It requires a threefold effort. First, you need to study the basics, such as anatomy and physiology. In entrepreneurship, it's all about business models and value propositions. Secondly, you need to learn operational procedures. In entrepreneurship, it's about how to shape and test business ideas. And thirdly, you need to practice, practice and practice some more. For doctors, it's internships. In entrepreneurship, it's joining startups. You'll look stupid a thousand times until you look smart. Difficult but rewarding - if you succeed.

The Wagon brings you a talk by Alexander Osterwalder, one of the world's most influential innovation experts, a leading author, entrepreneur and sought-after speaker whose work has changed the way established companies do business, and the way new companies start up.

Ranked #4 on Thinkers50's list of the world's leading management thought leaders, Alex is renowned for simplifying the strategy development process and transforming complex concepts into digestible visual models. With Yves Pigneur, he invented the Business Model Canvas, the Value Proposition Canvas and the Business Portfolio Map - practical tools trusted by millions of business practitioners in the world's leading companies.

Alexander's company, Strategyzer, offers online courses, applications and technology services to help organizations effectively and systematically manage strategy, growth and transformation.

His books include international bestsellers Business Model Generation, Value Proposition Design, Testing Business Ideas, The Invincible Company and High-Impact Tools for Teams.