From Failure to Fortune: Why Visionary Companies Embrace Mistakes

The Surprising Power of Experimentation and Resilience in Enduring Organizations

In the world of business, failure is often seen as something to be avoided at all costs. But in the most enduring organizations, failure is not a dead end—it’s a crucial part of the journey to greatness. As Jim Collins and Jerry Porras demonstrate in Built to Last, visionary companies are relentless experimenters. They try, fail, learn, and try again, constantly searching for better ways to serve their customers and achieve their mission.

This approach is rooted in the belief that progress comes not from a single big leap, but from hundreds of small bets. Most experiments fail, but each one teaches a lesson. Over time, these lessons add up, leading to breakthrough innovations and lasting improvement. In these organizations, failure is not punished but celebrated as a sign of ambition and a source of learning.

Companies that embrace this mindset are more adaptable, more resilient, and more likely to survive in a rapidly changing world. They don’t wait for the perfect plan or the flawless strategy—they move quickly, test often, and keep only what works. This evolutionary approach ensures that the organization is always learning, always improving, and always moving forward.

If you want to build a culture of innovation in your own organization, start by encouraging experimentation, rewarding learning, and treating failure as a valuable teacher. The road to fortune is paved with mistakes—if you have the courage to learn from them.

References: Built to Last by Jim Collins & Jerry Porras; Summary.com; Readingraphics; Runn.io.