How has a failure, or apparent failure, set you up for later success? Do you have a favourite failure?
Recorded Hiroshi Mikitani said elsewhere, not written here
My “act first” process is not foolproof. It can result in mistakes. In other areas of my business, we’ve changed policies that drew criticism from our customers, launched services too early, and pursued acquisitions that failed to close. But I consider these necessary risks, taken in the pursuit of innovation. In business, there will always be ideas that fail and projects that disappoint. But we learn these things by acting.

Quartz, 20 July 2022 source ↗

Others on this question

View all 77 →
Peyton Manning American football quarterback
That's a real challenge and a real issue. Reading the statistics, they had a ranking of quarterbacks, and the statistic was the percentage of a touchdown drive after an interception. To me, that is a telling statistic. The guys that have a high percentage are the guys that have short memories. They talk about having amnesia as a quarterback. You better move along from it. It is hard to say you forget about it, because you want to learn from it. You want to address it. You can't just say it never happened.
Recorded Academy of Achievement interviewer, Academy of Achievement interview, Indianapolis, Indiana, 1 April 2007 source ↗
Steve Jobs Co-founder and chief executive of Apple; co-founder of NeXT; chief executive of Pixar
I didn't see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.
Recorded Stanford University 114th Commencement, Stanford News (Stanford University), 12 June 2005 source ↗
N. R. Narayana Murthy Co-founder and former chairman of Infosys
I will begin with the importance of learning from experience. It is less important, I believe, where you start. It is more important how and what you learn. If the quality of the learning is high, the development gradient is steep, and, given time, you can find yourself in a previously unattainable place. I believe the Infosys story is living proof of this. Learning from experience, however, can be complicated. It can be much more difficult to learn from success than from failure. If we fail, we think carefully about the precise cause. Success can indiscriminately reinforce all our prior actions.
Recorded New York University Stern School of Business pre-commencement lecture, 9 May 2007, Rediff, 28 May 2007 source ↗
Mohamed ElBaradei Director General of the International Atomic Energy Agency, 1997-2009; Nobel Peace Prize 2005
Unfortunately, in the case of Iraq, I believe we could have done that through an inspection process. I was calling for a few months more to complete our work. We hadn’t seen indications of weapons of mass destruction. We hadn’t seen indications of nuclear weapons. ... Unfortunately, it didn’t work that way. There was faulty intelligence. There were lots of other considerations that made a decision to go to war tempting, to get rid of Saddam Hussein.
Recorded Academy of Achievement interview, 2006 source ↗

More from Hiroshi Mikitani

View profile →
Question What is one of the best or most worthwhile investments you have ever made — of money, time, or energy? Money & investment
In Rakuten's case, adjustment certainly took time. At first, meetings often felt awkward. The first board meeting after the Englishization decision took four hours to complete – double the normal duration. But whenever executives asked if they could say certain things in Japanese, I told them no. I knew that the challenge would pay off – and it has.
Recorded Mikitani's own essay, bylined “By Hiroshi Mikitani: Founder and CEO of Rakuten”, Toyo Keizai source ↗
Question Who do you turn to when you need advice? Relationships
Many times when I found myself at a personal crossroads – when I graduated from Hitotsubashi University and was unsure about whether I wanted to go into research or become a businessman, when I quit my job at the Industrial Bank of Japan (currently Mizuho Bank), when I founded Rakuten, when I tried to buy Tokyo Broadcasting System (TBS) – I always visited my dad in Kobe to ask his advice. Like my wife, my dad was a behind-the-scenes counselor to me.
Recorded Rakuten Today, 21 July 2016 source ↗

More on failure & regret

Also answered this

Iyinoluwa Aboyeji, N. R. Narayana Murthy, Whitney Wolfe Herd, Melanie Perkins, Sheryl Sandberg, Tony Fadell

Search the directory for somebody in particular.

Explore further

Report this answer