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Proposing "Optimal Failure" - A Method for Entrepreneurial Evaluation

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In our efforts I have repeatedly seen a pattern where shiny new projects are tackled while stagnating ones are forgotten. This way we always feel productive but remain in an overall stagnation, where no project receives enough effort to truly succeed. Instead, many loose ends trail the path.

This also concerns cooperations and internships. By not taking time to delegate and follow-up on the appropriate level, people are annoyed and overwhelmed.

So let us set boundaries when tackling bigger projects. Optimal Failure refines SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals by more granularly breaking down Relevance and Timeframe.

With the goal already set, outline the optimum: Until which date could it be completed, and what would be the result, the benefit of it?

Then define the limit: What date is the latest acceptable for completion? What is the consequence if it does not work out, and which alternatives are available then?

This prevents silent overrun, makes failure explicit and enables you to handle and learn from it, as well as detecting shortcuts along the way. I am convinced these simple steps could have saved us plenty of conflicts and frustration.

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