Phoenix Failure


The mythological phoenix rose from the ashes every 500 years. Did that mean it failed?

I don’t know about you, but I hate failing at anything. Learning to love failing simply does not appear to be a successful strategy.

Barings Bank failed 25 years ago when rogue trader Nick Leeson conducted a series of unauthorized arbitrage trades and caused a loss of $1.3 billion. So the bank would have learned to supervise his activities a bit closer if they weren’t so happy with the money he initially brought in. So failure seems to suggests being unwilling or unable to try again.

If your strategy appears to have failed, and you try a new strategy to achieve a goal, then you haven’t failed at achieving your goal. You simply learned that your initial approach to achieve your goal would not work, so you tried something different.

Leeson was sentenced to 6 years and got divorced. That sounds like failure, but he must have learned something since he got remarried, wrote two books one of which was made into movie starring Ewan McGregor.

They say fail often, and quickly. But if you pick yourself up and try again, then you haven’t really failed since you haven’t stopped trying.