Image via WikipediaHere's a great video from Tom Peters, recounting the great attitude of Sam Walton and why he was so critical to making Wal-Mart what it is today. Watch below:
David Wyld, Professor of Management
Southeastern Louisiana University
Southeastern Louisiana University
Management in a Minute (http://managementinaminute.blogspot.com/)
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78 comments:
I think Tom Peters makes some great points. If you are unafraid to fail then you should be able to learn a lot and succeed. As I much as I do not really care for Wal-Mart, Sam Walton did put in a lot of time and money into this business. It is amazing to think that this man created all of that madness that is Wal-Mart. If I had to describe Sam Walton in a minute and a half, then I could not. Why? Because I do not know him first of all, and second he is way too big of an acheiver to break down into that little amount of time. Someone that has a lot of mistakes can easily learn from those over time, and correct them hopefully. This is what makes someone that much stronger.
As usual, Tom Peters makes some very good points in his video. I believe that the people who are afraid of failure, are missing opportunities for success. Failures help you to grow and can make you a stronger individual. If you are afraid of failure, than you really are not giving yourself much of chance to succeed in anything at all. I also believe that it is very important to learn from every failure.
An individual does not have to experience failure before they can achieve success but rather demonstrate courage around the possibility of failure.
Wow that really makes sense what Tom Peters says today. Think about so many great inventions we have today like the car, the computer, the cell phone. They weren't built over night. I'm sure a lot of trial and error took place. A lot of failing, but in the end a great success.
I have always agreed that making mistakes mainly means you are learning something others will or have already learned, the harder way. It is great to know that Sam Walton, the founder of Wal-mart was unafraid to fail.
We all will fail at some point in time, but I believe it is how we come back that means more. Sam Walton was hugely successful and it is good to know that even someone like him had failed at certain things.
I'm so tired of Tom Peters. This guy gets old real fast. Let's have someone more interesting with less hand movements.
Sam Walton will always to me be one of the great visionaries oh his time along with Walt Disney. They achieved so much.
I agree with John... Tom Peters gets on my last nerve. I believe it is okay to fail. It's important because that's how people learn.
I totally agree with this link! Tom Peters makes perfect sense. Everyone has to deal with failure but its how you deal with it that makes you successful
I believe that you shouldn't be afraid to fail...to some extent. You should take risks that are reasonable and always have a backup plan. Everyone fails at some point in their life, but how you deal with it is what measures how successful you are. You should learn from your mistakes and try again.
I think that in order to be successful, you have to fail! I think it is a learning process, and it would also give you the wisdom to help someone in that same situation in the future. No one should be afraid of failing. It shows that you are human and that everyone makes mistake. You just have to learn not to beat yourself up over those mistakes and take them as a lesson learned.
Everyone fails. So don't try and prevent it! Fail, learn from it, and become a well-rounded person! Tom Peters is the man!
Big Tom strikes again! failure is just apart of life its like any other learning experience!
Anyone who thinks failure is easy is naive. However, as many have said it is a part of life and learning to fail intelligently is a key to building any type of success. I think Tom is right when he used Sam Walton as a model. It is hard to disagree with the company he founded not being the most powerful in the world. He started with some failures but found a way to persevere.
Failing can be very discouraging but at the same time it could be exactly what you need to learn, and grow.
I am so scared of failure but I had to realize that everyone makes mistakes and some things are just not for you to do.
You learn from your mistakes. When you make a mistake no matter what I think that you will always learn something good from it. Failing could be scary, but sometimes it what you need to succeed in the end.
Everyone fails its life. But when you fail I believe it helps you to grow and learn things you didn't know before.
That's incredible advice. I must be well on my way to success...! I'm not afraid to fail, I just don't like to fail.
There are a lot of people who are afraid of failure and it sets them apart from those who are successful. You don't necessarily have to experience failure before you achieve success, but it demonstrates your inability to take risks and learn from your mistakes. Everyone fails at some point in their life and you should grow from it.
Tom Peters makes some valid points. If you want to progress and grow, you will experience failure at one point or another. It is part of the process of growing and expanding.
I think making mistakes can be very beneficial for people because what you learn from those mistakes molds you into the person you will become. I also agree that we must never be afraid to fail because failing means that you are taking chances. If we are scared to fail we will never take that chance and succeed.
"I am an old man and have known a great many troubles, but most of them never happened."
-Mark Twain
Fear of failure will hold you back. I believe, every wrong attempt discarded is another step forward.
Making a mistake or failing is always a scary thought but not trying is even scarier. Even though you may make a mistake you learn from it and can find a better way to get things done. Mistakes often lead to success if caught and corrected.
Failure is how we learn to do better. Experience is priceless and lends itself to job hunting. A good example is my old man, he makes a good living, he has been doing what he does for 35 years, no college can give you that kind of knowledge.
I don't think one has to fail before they can achieve anything, however I do think when people fail or go through hard times one appreciates things more.
Failure is just the beginning of a good thing, because things can only look up from rock bottom. Donald Trump was known to have told his daughter that a bum on a street was better off than he was, because the bum was at a value of 0 and he owed millions. Just fun to put things in perspective like that. Donald Trump is pretty successful even though he failed several times.
I believe he Tom Peters is right. Everyone is going to fail multiple time in their life and it is the people that accept it and learn from it that will succeed.
If you don’t fail then you can’t learn from your mistakes. People usually achieve success once they have failed. It might be discouraging at first but very rewarding in the end.
Fear of failure is what separates the average from the successful. People who are not afraid to fail are usually the ones who are on top. Just take for example people in the singing business that have come from nothing and had nothing to lose therefore risked everything to get to where they are at. Many successful franchises did not become successful by playing it safe. The higher the risk the higher the return.
Life is full of mistakes the key is learning from the mistakes that you have made. Also do your best to learn from other people’s mistakes but some people must learn first-hand. Failing at something is inevitable, just give your best and if you fail, learn from your mistakes and try again.
I read the book by Peter Sims called "Little Bets" and it stresses this fear of failure affect. Not fearing failure only propels future success. Learning from mistakes is key.
Failure is just a component of life. If people always live their lives fearing it they will never get anywhere. It like the saying "no pain no gain". You must be able to bend but not break.
Great video, Tom Peter give some good advice.
You can't be afraid to fail because then you will never achieve anything. You have to take risks in order to be successful. Having that fear to fail will never let you find out if you are able to succeed.
Everyone has failure cross their path at some point in their life. If you never cross failure you can never understand success. It takes failure for you to realize you have achieved success.
I definitely agree that part of excellence is not being afraid to fail. It is important to not focus on the fact that you failed, but the lesson in failing and hopefully find a way not to revisit the failure. Mistakes are life's biggest teachers. Some people choose to dwell on their failure, others prefer to dissect their failure and figure out the how and why!!
Great advice. Tom Peters has given good points throughout my semester in management class.
This was good advice for someone like myself to hear because my biggest fear is failing. Sometimes I won't even try something new because of my fear for failure but I suppose its how you pick yourself back up after having failed is what defines you, not the failing aspect itself.
Interesting advice from Peters. Every video I see from Peters convinces me how responsive and knowledgeable he is for business yet it convinces me how eccentric he is as well.
The best way to learn how to do something the best way is to make mistakes and learn from them. That is why in business there's this thing called a learning effect where you learn how to do something with less costs and less time while also doing it more proficiently.
I definitely think the fear of failure holds people back from taking the necessary chances to get ahead in life. However, I disagree with "He who makes the most mistakes wins". Charlie Sheen does too... He who makes the most mistakes is probabaly a drug addict bum... Everyone is going to make mistakes and they need to see it as a learning experience, but you don't have to use your own mistakes to learn. Learning from others mistakes so you avoid them yourself is more important in my opinion
So, once again I cannot fully agree with ole tom Peters. I do think that you shouldn't be afraid to fail and I think that making mistakes is inevitable and necessary, because that is one of the ways we learn. I also think that learning from our mistakes and not repeating them is key to success. What I don't agree with is that the person who makes the most mistakes wins. I think that we can avoid a lot of mistakes by learning from other peoples mistakes. I find it hard to believe that the "winner" that Tom is talking about that makes the most mistakes is not making some mistakes that someone else has already made and could have been avoided by learning from theirs.
You only fail when you stop trying. I love this topic Tom is hitting on.
Fear of failure is what separates the average from the successful. People who are not afraid to fail are usually the ones who are on top. Everyone is going to make mistakes and they need to see it as a learning experience, but you don't have to use your own mistakes to learn. Learning from others mistakes so you avoid them yourself is more important in my opinion
Fear of failure can hinder you from finding out what really works. Just like everything in life, you don't want to ask the question; What if? I love how Peters says that Walton would laugh at himself for making mistakes. I like that aspect about people that life is just not that serious to dwell on past mistakes.
What a great message about being afraid to fail. If Mr. Walton from Wal-Mart fame has the belief that he is not afraid to fail, I think that is a good enough lesson for us to follow. Obviously, Mr. Walton is one of the most successful individuals and we can all look to him for advice on how to operate in business. I like what was quoted when Mr. Walton did fail on a project, "well, we got that one out of the way" and then he is ready to move on to the next project.
I agree somewhat that failure can be helpful sometimes. A lot of people learn more when they fail than if they succeed because once they fail they will try not to make the same mistake again. Even the most successful people have to fail a lot before they finally get the right strategy.
i think it is great that Sam Walton was not afraid to fail. This shows that he liked taking risks and was not afraid of the outcome. When you fail and learn from your mistakes, it is better than getting it right the first time and you appreciate what your did more.
I think this is very much true that whoever fails the most wins. The reason is because everyone who tries new things is going to fail every once in while and you can't win if you never try anything new. The way Tom Peters uses his hands when he talks is very distracting by the way.
I think that Peters is hitting a key point. making mistakes and failing can be a good thing if you take something from it and learn. You have to learn to fail smartly.
If you fail, then you do know something won't work and sometimes ( a lot of times) you are so scared of it not working you can't conceive of what will work. I think this is excellent advice and try to apply this type of thinking.
I agree with Tom Peters when a person starts a business they should not be afraid to make failures. I feel if you don't fail at some point then you won't know how to improve on them when they happen. Actually failures can help a company grow and learn from mistakes to achieve greater expectations So receive failure as a learning process for advancement through correction and a way to better the business.
I’m terrified of failure when it comes to professional/school endeavors. I make it a habit of preparing well so that failure isn’t likely. Accounting isn’t a very forgiving field, but even there, fear can slow you down and destroy your confidence; it’s more about trusting that you won’t fail, in my opinion. Because honestly, you have no room for huge mistakes.
Obviously Sam Walton is an incredibly smart person. I like his philosophy. If you never try anything, you'll never get anywhere. Don't be afraid of failure and sure you might fail a few times, but there will definitely be those times where you hit the mark. But you can't be afraid to try.
This is probably the best advice that I've heard yet from one of these extra credit links. I think many people, including myself, are held back by the fear of failing. If you are unafraid to fail, you are able to learn what really works.
The best way to learn something is to just get out there and do it. But by being so spontaneous and just jumping into something, you are setting yourself up for numerous failures. However, those failures will lead to success. That is what Tom Peters is trying to explain in this video.
Some of our greatest success and inventions in the world have come from failure. To be successful you can't be afraid to fail, as that is part of the process. I don't think it's possible to be completely successful without at least one or two failures/setbacks. I really enjoyed this video.
Everyone fails at some point in their lives, usually multiple times at that. If you don't learn anything from your failures, then you just failed. However, if you gain knowledge from failing, you have found a way to succeed and have learned from it.
Yes, you should display a level of confidence and have no fear for failure. So many people that are scared to fail or get hurt or whatever never experience things in life that they could. Never fear failure can be used in both the business aspect as well as everyday life. When you are not in fear of failure you will become successful of achieving the goals you set forth in life and business.
i feel honestly if you dont fail you will never learn. failing is the best way to learn. i like to be the best at everything i do but you cant be the best everytime.
The importance of failure is totally misconstrued today with all the fail videos on youtube and criticism for people who branch out to try out a new idea. Failure is usually the outcome of new ideas, which we learn from and are able to laugh at if something embarrassing happens.
For a lot of people the fear of failure holds them back from taking the necessary chances to get ahead in life. However, I disagree with "He who makes the most mistakes wins". I should be more like “ He who makes the most mistakes and learns from them wins”. Everyone is going to make mistakes and they need to see it as a learning experience, but you don't have to use your own mistakes to learn from.
I believe that you learn the most when you fail. Failure is what makes me want to succeed that much more. I read Sam Walton's biography and it is a great book. One that that Sam always did was learn. he learned from everything and anything he could and i think that is what helped Sam turn walmart into the worlds largest retailer.
Failure keeps a lot of people with good ideas from taking chances and seeing those ideas through. You have dot learn from your mistakes and keep going.
Failure is going to happen. It can be huge or very small but everyone will encounter it at some point. The only way to deal with it and be successful is to brush it off and learn from it. Sam Walton is an excellent example of failing but still creating a very successful business.
This is completely true; you have to be unafraid to fail. If you’re afraid something is going to go wrong or something isn’t going to work, how can you really ever know if you don’t try? Failing doesn’t make someone any less of a person; it just gives you the tools to build upon something that can be successful. Learn from it and move on, the worst thing one can do is let failure or mistakes hold them back from achieving their overall goals.
100% agree. How are you suppose to know what works until you try. Not everything will be a success but being willing to try new things will pay off. Failing builds character and one of the best ways to learn.
I think failure helps people and businesses more than people would think. A company cannot be afraid to fail because with failure brings lessons that can be taught and learned from so mistakes will not be made twice. I think this video makes great points and clearly CEO's cannot be afraid of this, they have to embrace failure and turn it into something positive.
The fear of failure can hold many people back. Thankfully for risk takers such as Sam Walton, they didn't let fear completely overwhelm their efforts to do something bigger. I always like his take on applying simple life concepts to the bigger picture.
I have always agreed that making mistakes mainly means you are learning something others will or have already learned, the harder way. It is great to know that Sam Walton, the founder of Wal-mart was unafraid to fail.
The fear of failure can be a crutch to success. Being afraid to fail can really hinder your true potential. Sometimes we need to take risks to see how far we can go with ourselves. Pushing ourselves past the fear of failure can really help us in the long run to achieve our goals. In all, if you do not succeed you can learn from your mistakes and improve for next time.
If you don't fail you will never learn. This is just a fact. The reason we know so much is because there have been people that have failed. The reason we can grow is because of mistakes.
its all about learning to do something better so i dnt see anything wrong with failing once long as you get up and continue to strive for success
in failure there is always something to be learned. Obviously, there are people that are aftraid of failure. I know I am. But thi was great to learn from.
This had a good message. If you don't make mistakes it is hard to grow and learn from those. WHen you make mistakes you learn what not to do. You can't be afraid of failure. Its all about learning from your mistakes and moving on to the next step.
Life is about taking risks, this goes for everything especially business. When you take risks that has the opportunity for mistakes which allow you to learn from them.
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