Failure is part of human escapades. To get to where/what we want, chances are we will go through stumbling blocks that will hinder our progress. Listening to stories from seemingly successful people such as Elon Musk and Beyoncé makes us realize anyone can fail. However, how we react to it usually determines who succeeds in the end. While it’s true that it can be demoralizing and soul-crashing, interpreting failure as a learning opportunity can help. Not to bore you with a lot of motivational talk, let’s look at some facts about failure from other people’s perspectives.

1. There is a Museum of Failure in Sweden

In Sweden, there is a Museum of Failure that collects and displays failed products from all over the world. The facility’s goal is to encourage people to take risks and learn from past failures. Besides that, the museum provides insight into the world of product development and innovation. It is frequently visited by product developers.

2. There Is a National Failure Day In Finland

Since 2010, Finland has celebrated a national day of failure every October 13. It was promoted by Finnish University Students who feared they would not secure jobs after graduation. People take the day to discuss their failures and look for ways to overcome them. The holiday got so popular that it got the attention of Nokia’s chair of board directors and other public figures.

3. The Fear of Failure Known as Atychiphobia

Atychiphobia is defined as the irrational fear of failing. It primarily stems from anxiety, depression, or individuals with a perfectionist personality. The fear of failure can lead to unrealistic standards and sometimes make the sufferer feel helpless. Like all other phobias, Atychiphobia is a manageable condition. Cognitive Behavioral Therapy and SSRIs can help treat it.

4. Some Customers are Harbingers of Failure

According to a study by the Massachusetts Of Technology (MIT), there are a set of clients/customers called harbingers of failure. They are people who, if they buy a product, it is bound to fail. The study attributes this phenomenon to the clients’ tendency to purchase unpopular products. The demographic mostly leans towards products that don’t resonate with the rest of the market.

5. Walmart Failed in Germany Due to Cultural Differences and Prices

While Walmart is making a killing in the United States and Chinese markets, the same cannot be said for Germans. Apparently, the giant store failed in Germany because of cultural reasons – Germans aren’t into the idea that services should be offered with a smile. That, coupled with the fact that there are other smaller discount stores in the country, makes it harder for Walmart to penetrate the market.

6. The Great Gatsby was Initially Considered a Failure

Today, the Great Gatsby is one of the most popular books ever published. It has sold over 25 million copies, and armed troops have bought 150,000 copies. However, when it was first published on April 10, 1925, the Great Gatsby was considered a commercial failure, selling only 20,000 copies.

At the time, many people, including the most astute reviewers, didn’t understand what F. Scott Fitzgerald was discussing in the book. This led to Gerald believing that he was a failure to his death.

7. Hocus Pocus was Also a Commercial Failure

All Halloween enthusiasts are familiar with the cult classic film Hocus Pocus, which, from hindsight, seems to be successful. However, when it first aired in 1993, it was considered a commercial failure. It was hit by many negative reviews, and its Box Office numbers were not good. It had a $28 million budget and only grossed $45 million. That is why Hocus Pocus took 30 years to release a second film.

8. Starbucks was a Failure in Australia

Undoubtedly, Starbucks is a force to reckon with in the United States. However, the fast food enterprise’s quest to penetrate the Australian market was met with many setbacks and was considered a failure. They made losses worth $105 million and closed up to 61 chain stores.

Financial experts believe Starbucks failed in Australia because it retained its American business model, which didn’t appeal to the region’s market. Starbucks also didn’t consider the special coffee items Australians liked.

9.The First Product from Sony was a Huge Failure

After World War II, Masaru Ibuka and Akio Morita founded Tokyo Tsushin Kogyo, the modern-day Sony. Incidentally, their first invention was a rice cooker, which massively flopped. The device featured aluminum electrodes and a wooden tub that would sometimes overcook or undercook the rice. Fortunately, the cofounders didn’t give up; they continued making more inventions, leading to the tremendous success the company enjoys today.

10. Failure is Only Temporary

One of the psychological facts about failure is that it is only a temporary situation. As long as you keep soldiering on, failure can be a learning opportunity or a chance to grow. The only time failure is permanent is if an individual gives up. The stories of most successful people prove this.

11. Failure is the Mother of Innovation

Failure can make you highly innovative, whether it’s a product or a business. When something fails, and you take the initiative to review your ideas and figure out where you went wrong, you can create something better and more advanced. The more you fail, the wiser you become.

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Last Update: May 3, 2024