In this TED talk, Dean Shepherd, the David H. Jacobs Chair in Strategic Entrepreneurship at the Kelley School of Business, Indiana University, explains how important failure can be for success. Mr. Shepherd is one of the world's leading entrepreneurship researchers, and is most well-known for his groundbreaking research on entrepreneurial failure. He quotes one of the few authors who focus on failure in entrepreneurship:

 

The businesses fail. Entrepreneurs learn.

The truth is that it is rarely discussed how the emotional turmoil caused by failure impacts upon the learning process. Through deeply personal stories and his extensive research on entrepreneurship, Dean Shepherd sheds light on this process for both individuals and organisations, and encourages us to make the most out of our own failures. We can learn a lot from our mistakes because being always right actually doesn't allow us to grow emotionally in any way.