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Embracing failure is a necessary step for successful entrepreneurs

WHITEWATER Thomas Edison invented the electric light, the central power station, the phonograph and recorded 1,000 patents, but his effort to extract low-grade iron ore from sand cost him millions of dollars and was dubbed Edisons Folly in the late 1800s.

Steve Jobs was fired by Apple Computers, the very company he helped to create. Dean Kamen, the c......

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Agility is the only sustainable edge, said Schiefelbein, who told how the company could have folded several times, but instead diversified and learned from its own mistakes.

Ralph Kauten, president of Madison-based Quintessence Biosciences, des......

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As Edison said a century ago, I am not discouraged, because every wrong attempt discarded is another step forward. For entrepreneurs just starting out, theres some comfort in knowing that innovators, past and present, profited by their own mistakes.

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