2 ways in which failures and mistakes help us learn and grow.

Following are 2 ways in which i think failures and mistakes help us learn and grow.

  1. Failures are prototypes of experience. They are powerful reference point which can act as a tool for decision making and adjustment.  They are a special kind of tacit knowledge that is difficult to transfer to another person by means of writing it down or verbalizing it.

    Eg. DVD rental business was an essential way for Netflix to create revenue and learn, it was a prototype. It was the wrong organization for acquiring new consumers and growing. Netflix failed and made lot of mistakes to arrive at its hugely successful web subscription model.

  2. Hyper correction effect: This refers to the finding that high-confidence errors are more likely to be corrected after feedback than are low-confidence errors. The more mistake we commit the better the chances of not committing similar mistakes. Especially when its in institutional memory. (As against individual memory)

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