One of the best presentations I ever heard was given by A.G. Lafley, CEO of Proctor & Gamble. When asked the secret of P&G’s success, he replied with one word: failure. He then went on to explain that in his industry, each success requires hundreds if not thousands of failures in order to identify and, in many cases, invent suitable products for its various industries. He went on to say that their goal at P&G was to, “Fail often, as inexpensively and humanely as possible, while tracking and learning from each failure.
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