Special Reports

Celebrating Failure Has More Positive Effects And More Entrepreneurs Are Doing It


Failure doesn't sit well with our ego. It hurts, embarrasses, and makes s feel incapable. Most often than not, we try to hide our failures, afraid that people will laugh at us if they know. However, study says that celebrating failure has more positive effect on us. In fact, there's a growing number of startups that are doing this, not to shame themselves but to learn from as well as support each other.

There have been several groups of startups and young entrepreneurs who have revolutionized how failure is viewed. Although they started slow and small, the movement is gaining traction and events to publicly celebrate failure is being held in different cities in the world.

Why is this movement spreading? G Richard Shell, a professor of legal studies and business ethics at the Wharton School at the University of Pennsylvania, said that because the social support is good, failure makes you stronger and something where you can draw some lessons from.

He also added that the story of failure might not end with success or redemption, but the fact that people are able to pick themselves up and keep going despite the failure is what's creating the shift.

One of the biggest events has a profane name called "F%8k Up Nights" or FUN because it allows participants to talk about their failures without inhibitions or fear. It started as a discussion among friends who realized that they seldom talked about their failures. After talking about the mistakes they've done, they realized how an open and uncompromising discussion can actually do good to a person.

Through the help of social media, the movement spread to 75 countries in 200 cities with attendees of up to more than a thousand people. In fact, after two months, 15 cities have hosted the events.

Yannick Kwik, the CEO of the group said that failure is a universal experience and people need to have a platform where they can openly and freely discuss their failures.

In fact, discussing their failures has been one of the most meaningful conversations the group has says co-founder Leticia Gasca. They've even established the Failure Institute where they research and study failure trends around the world.

Failcon is another event where startup founders celebrate their failures and mistakes. Through this one-day conference, start-up founders will be better prepared for failure when it comes their way.

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