How to fail (successfully)...

Discussion in 'Investor Psychology & Mindset' started by Azazel, 15th Oct, 2015.

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  1. Azazel

    Azazel Well-Known Member

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    Interesting excerpt from the book "Black Box Thinking" by Matthew Syed:

    "My strategy has always been: 'Be wrong as fast as we can' ... which basically means, we're gonna screw up, let's just admit that. Let's not be afraid of that. But let's do it as fast as we can so we can get to the answer. You can't get to adulthood before you go through puberty. I won't get it right the first time, but I will get it wrong really soon, really quickly."
     

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    Azazel, 15th Oct, 2015
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  2. Bran

    Bran Well-Known Member

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    I was going to say that surgery is like this, then I saw on the second page them detailing an account with a belligerent surgeon.

    I don't want to derail it, but only a fool would take that surgeon's stance. ALWAYS be humble and accept that your anaesthetist and nurse might be right. In many ways, that situation wouldn't (and SHOULDN'T) happen in current practice.

    I know I'd change my gloves, and be very concerned ;)
     
    Bran, 15th Oct, 2015
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  3. Azazel

    Azazel Well-Known Member

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    Yeah, it's not like a minor thing if they stuff up.
    I've got a friend who used to do investigations when things went wrong in the hospital.
    Some surgeons can be very high and mighty, and can be the worst when it comes to hygiene/washing hands because they think they're above everyone.
     
    Azazel, 15th Oct, 2015
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  4. Azazel

    Azazel Well-Known Member

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    But I do like the concept of acknowledging that you're going to make mistakes, so getting it out of the way as soon as possible to learn from it and moving on. Even better if you can learn from someone elses mistakes.
     
    Azazel, 15th Oct, 2015
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  5. MGF

    MGF Well-Known Member

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    That section on risk-benefit rings very true with me.

    I always think of people who decide to sit on high balconies or on the edge of cliffs for a photo.

    Risk: death or if not, probable life-long crippling injury.

    Benefit: a damn photo.
     
    MGF, 15th Oct, 2015
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  6. Azazel

    Azazel Well-Known Member

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    Off you pop, get your mistake out of the way... oops.
    There have been a couple of real world examples recently.
     
    Azazel, 15th Oct, 2015
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  7. MGF

    MGF Well-Known Member

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    This idea is very much like:

    "The professional has failed more times than the amateur has tried".
     
    MGF, 15th Oct, 2015
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  8. larrylarry

    larrylarry Well-Known Member

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    I held the view "if i were to fail, i'd better fail soon". Since then, my partnership in business has gone from strength to strength. More than 5 years. Glad I left my employment behind. Of course, there were doubts but it's been a great ride.
     
    larrylarry, 15th Oct, 2015
    #8