The entire venture capital industry essentially invests in failures, since the majority of the companies they fund eventually go under.Other industries have similar success rate, including the toy industry, the movie business, and the publishing industry. Consider book publishing: according to Nielsen Bookscan, of the approximately 1.2 million different books in print in 2004, only 25,000, or 2 percent, sold more than 5,000 copies, and the average book in the U.S., sells less than 500 copies. Publishers, toy makers, movie producers, and venture capitalist understand that the path to success is littered with failures.
Essentially, most individual's path are riddled with small and enormous failures. The key is being able to recover from them. For most successful people, the bottom is lined with rubber as opposed to concrete. When they hit bottom, they sink for a bit and then bouce back, tapping into the energy of the impact to propel them into another opportunity.
There is strong evidence that the ratio between our individual successes and failures stays the same. Therefore, if you want more successes, you 're going to have to be willing to live with more failures. Failure is the flip side of success, and you can't have one without the other.
- source: "What I Wish I knew When I Was 20" by Tina Seelig
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