Sweden has produced many successful companies like Ikea, Spotify, Pergo, and Skype. But if you visit this beautiful Scandinavian country, you can also go to The Museum of Failure.
This museum in Helsingborg contains a collection of things that have failed in the marketplace. It is a place to learn from failure and to see where innovation went wrong. More than seventy failed products and services are on display from the Sony Betamax, the Apple Newton, Coke II, Blockbuster Video box to Google Glass.
Even a Trump board game called I’m Back, and You’re Fired is included.
Inspired by the Museum of Broken Relations in Zagreb, Croatia, the Museum of Failure was partially funded by the Swedish Innovation Authority who recognized the benefits of learning from mistakes. Founded by Samuel West, this museum can help teach and inform the general public and business community about the role failure can play in business success. The exhibit occasionally goes on tour to different countries to help spread the word.
My favorite failure from the collection is Colgate Lasagna, which would probably make an excellent name for a band. My teeth hurt thinking about this Italian dental mashup.
What I know about Failure
- My business failures have taught me much more than any of my successes.
- Failure is like a GPS course correction, but you need to listen and not fight a recalculating of a course change.
- When failure is celebrated in a company because a risk was taken that isn’t lethal to the financial health, that is a sign of a business pushing hard to keep improving.
- Failure can sometimes occur because an outstanding product loses in the marketplace of ideas or products, like Betamax. Sony’s product was always considered technically better; being best doesn’t make a product the winner.
- Line extension failures and off-brand products always hurt my inner brand manager. Whoever thought a brand that stands for toothpaste could extend to food must have had their wisdom teeth pulled, so they weren’t thinking clearly.
- Some failures get beaten by better business models, technology or great marketing. I have heard that venture capital firms rarely invest in people who haven’t taste the pain of failure.
“Anyone who hasn’t made a mistake hasn’t tried anything new.” Albert Einstein
How often are you taking risks to disrupt, innovate and change a market dynamic? A fresh perspective may help. You can schedule time for us to talk on my calendar or email me at jeffslater@themarketingsage.com or call me at 919 720 0995. The first conversation comes with no obligation. Be prepared to be challenged.
Photo Courtesy of Colgate and The Museum of Failure
