Failure Can Be a Badge of Honor

Auren Hoffman:

The number one reason for the growth in the American economy over the last 20 years is small businesses. Small businesses now account for two-thirds of the private sector jobs, they employ more than half of all workers, and account for more than half the output of the economy. No other mature economy can boast that kind of economic diversity. And white males are actually the minority of small business founders.
Why is this? One word: failure. Americans like to fail.

That’s right, Americans love and embrace failure. It is a badge of honor. And Americans love giving people second, third, fourth, fifth, even six chances. Even some of the most successful Presidents, like Harry Truman and the current president, were basically failures until about age 40.

Americans like to fail because we like to take risks. And if you want to take a risk … and if you have a good idea, a business model, and passion … there are thousands of venture capital firms and individual investors that will back you.

via Peter Caputa.

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