Why We Embrace Fail Fast at TribalScale
Written by: Sheetal Jaitly, CEO and Founder, TribalScale
Originally published at https://tribalscale.com.
The fail fast mentality is a philosophy that advocates for quickly identifying and addressing problems or failures in order to minimize their negative impacts and maximize the potential for success. This approach has been embraced by many organizations in a variety of industries, and is often seen as a key driver of innovation and progress. I first experienced this culture when I worked at Xtreme Labs. I loved the concept that it’s okay to try new things and if it fails it’s a learning experience. This culture grew with me and is now a pillar here at TribalScale.
Origins and Benefits of Fail Fast
The origins of the fail fast mentality can be traced back to the lean startup movement, which emphasizes the importance of rapid experimentation and iteration in the development of new products or services. The idea is to test hypotheses and gather data as quickly as possible in order to identify which ideas are viable and which ones are not. By failing fast, organizations can avoid investing significant resources in projects that are unlikely to succeed, and instead focus on those that have the greatest potential for success.
There are several benefits to adopting a fail fast mentality. For one, it allows organizations to identify and address problems or failures quickly, minimizing the negative impacts that they can have. This can help to minimize losses and minimize the disruption caused by these problems or failures. Additionally, a fail fast mentality can encourage a culture of innovation and experimentation, as it allows individuals and teams to take risks and try new things without the fear of failure.
Fail Fast Doesn’t Mean Failure is Desirable
One key aspect of the fail fast mentality is the importance of learning from failures. When an organization fails fast, it is able to quickly gather data and insights about what went wrong and use this information to improve processes and systems in the future. This can help to build resilience and improve the chances of success in the long run.
At TribalScale we talk about our fail fast moments every morning at standup and in a dedicated slack channel. This has many returns that make a lot of business sense. Our tribe is always willing to find something that didn’t work and help other team members find solutions. When a failure is hidden it usually gets compounded over time with many other failures causing teams to derail and FAIL BIG.
However, it’s important to note that the fail fast mentality does not mean that failure is desirable or should be actively sought out. Rather, it is about recognizing that failures and problems will inevitably occur and being proactive in addressing them in a timely manner. This requires a culture that is open to learning from mistakes and that encourages individuals to speak up about problems or concerns.
How To Embrace Fail Fast In Your Organization
There are several ways that organizations can embrace the fail fast mentality. One is by implementing agile development processes, which allow for rapid iteration and testing of ideas. This can be particularly effective in the early stages of product or service development, when there is still a lot of uncertainty about what will work and what won’t.
Another way to embrace the fail fast mentality is by setting up systems and processes that allow for rapid experimentation and iteration. This can include things like A/B testing, which allows organizations to test different versions of a product or service in order to identify the most effective approach. It can also involve using data analytics to track progress and identify areas where improvements can be made.
Finally, it is important for organizations to create a culture that is open to learning from failures. This can involve providing employees with the support and resources they need to take risks and try new things, and encouraging open communication about problems and failures. It can also involve creating a safe space for employees to share their thoughts and ideas, and rewarding those who are willing to take risks and try new things.
In conclusion, the fail fast mentality is a philosophy that advocates for quickly identifying and addressing problems or failures in order to minimize their negative impacts and maximize the potential for success. It is a key driver of innovation and progress, and it requires a culture that is open to learning from mistakes and that encourages experimentation and iteration. By embracing the fail fast mentality, organizations can increase their chances of success and build resilience over the long term. This is why here at TribalScale “Fail Fast” is embraced in all aspects of our mission.
Sheetal is a passionate advocate for Digital Transformation and Global Innovation. He’s led multiple digital transformation initiatives with companies spanning all different industries, including entire re-designs and creations of digital user platforms. Besides being an avid investor and supporter of digital technology companies, Sheetal is a board member of Feed Ontario, a member of Tech4SickKids Council, DMZ, and TechStars Mentor.
TribalScale is a global innovation firm that helps enterprises adapt and thrive in the digital era. We transform teams and processes, build best-in-class digital products, and create disruptive startups. Learn more about us on our website. Connect with us on Twitter, LinkedIn & Facebook!