How to turn failures into gains

Audio version available:

Loser, Failure, Board, Scaredy Cat, Fail, Burst

Do you know what the Amazon fire phone is? Not many people know about Amazon’s phone endeavor. It was a project Amazon lost billions on. While most people would lose their sanity after pouring billions into a failure.

Jeff Bezos (The Amazon CEO) decided to turn the failure of the fire phone into a “successful” failure. While failures stink, Amazon moved past the failure and started seeking ways to turn the failure into a success.

The software used in the fire phone was used for Alexa. Alexa has been a huge success for Amazon, it has generated tons of profit for Amazon. Alexa is now in the homes of millions of people and a much-desired product, it is the number one in its market.

Amazon’s successful failure with the Fire phone is a case we can all learn from. Every failure has a benefit we can leverage. The next time you fail, try to learn something from it, and if you can try to turn it into a “successful” failure.

Book: The Bezos Letters by Steve Anderson (Purchase on Amazon)

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