SOURCES: 1. Pamela Engel, “Small Business Owners Don’t Fear the Devastatingly High Failure Rate,” Business Insider, June 5, 2013, http://www .businessinsider.com/small-business-owners-are-optimistic-2013-6. 2. Deborah Gage, “The Venture Capital Secret: 3 out of 4 Start-Ups Fail,” Wall Street Journal, September 20, 2012, http://online.wsj.com/news/ articles/SB10000872396390443720204578004980476429190? mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB100008723963904437 20204578004980476429190.html. 3. Ray B. Williams, “Why Every CEO Needs a Coach,” Psychology Today, August 13, 2012, http://www.psychologytoday.com/blog/wiredsuccess/201208/why-every-ceo-needs-coach. 4. Laurie Burkitt, “Brand Flops: Ford, GE, Coca-Cola Know Hype Can Hurt New Products,” Forbes, March 31, 2010, http://www.forbes.com/2010/03/31/brand-flops-apple-ford-pepsi-coors-cmo-network-brandfail.html. 5. Timothy J. Galpin and Mark Herndon, The Complete Guide to Mergers & Acquisitions (San Francisco: Jossey-Bass, 2007). 6. Andrew Greenberg, “Hiring for Attitude: Why 81% of New Hires Will Fail,” Recruiting Division, April 23, 2014, http://www.recruitingdivision.com/why-new-hires-fail/. 7. Gallup, Inc., The State of the American Workplace (Washington, DC:Gallup, Inc., 2013). 8. Dave Chaffey, “Display Advertising Clickthrough Rates,” Smart Insights, November 13, 2013, http://www. smartinsights.com/internetadvertising/internet-advertising-analytics/display-advertising-clickthroughrates/. 9. “Avoiding the Inventor’s Lament,” BloombergBusinessweek, November 9, 2005, http://www.businessweek.com/stories/2005-11-09/avoiding-theinventors-lament. 10. Michael Krigsman, “Study: 68 Percent of IT Projects Fail,” ZDNet, December 11, 2008, http://www.zdnet.com/blog/projectfailures/study- 68-percent-of-it-projects-fail/1175. 11. The StandishGroup, CHAOS Summary, 2009, http://www.portal.state.pa.us/portal/server.pt/document/ standish_group_chaos_summary_2009_pdf (accessed November 6, 2014). happens. A lot. FAILURE FAILURE The Other “F” Word http://bit.ly/otherFwordBook Nobody wants to fail, but failure is a fact of life. It can also be a game-changing strategic resource to help you and your organization achieve the greater success you’re after. Put FAILURE to work! How well do you put failure to work driving innovation, growth and employee engagement? The Other F Word shows you how! NEW CEOS 2 out of 5 fail to last 18 months Nearly 1 / 3 of Fortune 500 CEOs will be gone before their fourth anniversary on the job 3 VENTURE CAPITAL–BACKED STARTUPS 75% fail to earn back even their invested capital More than 95% fail to meet investor expectations 2 STARTUPS 50-70% of ALL new businesses in the U.S. fail within the first 18 months 1 NEW PRODUCTS As many as 95% of new products introduced each year fail (Including those with enormous research and marketing muscle behind them) 4 NEW HIRES 81% of new hires don’t work out (As reported after a recent three-year study among 5,000 hiring managers of major firms) 6 MERGERS AND ACQUISITIONS 70-90% of mergers and acquisitions fail to add to shareholder value or meet their objectives 5 PATENTS Less than 99% of U.S.-approved patents fail to earn a cent for their inventors Of 1.5 million patents in effect, only 3,000 of them are being used for something commercially viable (if they’re being used at all) 9 IT PROJECTS An estimated 68% of major IT projects fail to meet their goals 10,11 SALES Most sales calls are failures… as are most advertising impressions on TV, the web, or in print Internet ads get clicked only about one time for every 1,000 views 7,8

Failure Happens A Lot: Put Failure to Work for Your Organization

Download PDF Report

Upload
wiley-publishers
View
3.523
Download
0

Embed Size (px)

Citation preview

Page 1: Failure Happens A Lot: Put Failure to Work for Your Organization

SOURCES: 1. Pamela Engel, “Small Business Owners Don’t Fear the Devastatingly High Failure Rate,” Business Insider,

June 5, 2013, http://www .businessinsider.com/small-business-owners-are-optimistic-2013-6.

2. Deborah Gage, “The Venture Capital Secret: 3 out of 4 Start-Ups Fail,” Wall Street Journal, September 20, 2012, http://online.wsj.com/news/ articles/SB10000872396390443720204578004980476429190?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10000872396390443720204578004980476429190.html.

3. Ray B. Williams, “Why Every CEO Needs a Coach,” Psychology Today, August 13, 2012, http://www.psychologytoday.com/blog/wiredsuccess/201208/why-every-ceo-needs-coach.

4. Laurie Burkitt, “Brand Flops: Ford, GE, Coca-Cola Know Hype Can Hurt New Products,” Forbes, March 31, 2010, http://www.forbes.com/2010/03/31/brand-� ops-apple-ford-pepsi-coors-cmo-network-brandfail.html.

5. Timothy J. Galpin and Mark Herndon, The Complete Guide to Mergers & Acquisitions (San Francisco: Jossey-Bass, 2007).

6. Andrew Greenberg, “Hiring for Attitude: Why 81% of New Hires Will Fail,” Recruiting Division, April 23, 2014, http://www.recruitingdivision.com/why-new-hires-fail/.

7. Gallup, Inc., The State of the American Workplace (Washington, DC:Gallup, Inc., 2013).

8. Dave Chaffey, “Display Advertising Clickthrough Rates,” Smart Insights, November 13, 2013, http://www.smartinsights.com/internetadvertising/internet-advertising-analytics/display-advertising-clickthroughrates/.

9. “Avoiding the Inventor’s Lament,” BloombergBusinessweek, November 9, 2005, http://www.businessweek.com/stories/2005-11-09/avoiding-theinventors-lament.

10. Michael Krigsman, “Study: 68 Percent of IT Projects Fail,” ZDNet, December 11, 2008, http://www.zdnet.com/blog/projectfailures/study- 68-percent-of-it-projects-fail/1175.

11. The StandishGroup, CHAOS Summary, 2009, http://www.portal.state.pa.us/portal/server.pt/document/standish_group_chaos_summary_2009_pdf (accessed November 6, 2014).

happens. A lot.FAILUREFAILURE

The Other “F” Word http://bit.ly/otherFwordBook

Nobody wants to fail, but failure is a fact of life. It can also be a game-changing strategic resource to help you and your organization achieve the greater success you’re after.

Put FAILURE to work!

How well do you put failure to work driving innovation, growth and employee engagement?

The Other F Word shows you how!

NEW CEOS

2 out of 5fail to last 18 monthsNearly 1⁄3 of Fortune 500 CEOs will be gone before their fourth anniversary on the job3

VENTURE CAPITAL–BACKED STARTUPS

75%fail to earn back even their invested capitalMore than 95% fail to meet investor expectations2

STARTUPS

50-70%of ALL new businesses in the U.S. fail within the � rst 18 months1

NEW PRODUCTS

As many as 95% of new products introduced each year fail

(Including those with enormous research and marketing muscle behind them)4

NEW HIRES

81% of new hires don’t work out

(As reported after a recent three-year study among 5,000 hiring managers

of major � rms)6

MERGERS AND ACQUISITIONS

70-90%of mergers and acquisitions fail to add to shareholder value or meet their objectives5

PATENTS

Less than 99%of U.S.-approved patents fail to earn a cent for their inventorsOf 1.5 million patents in effect, only 3,000 of them are being used for something commercially viable (if they’re being used at all)9

IT PROJECTS

An estimated

68%of major IT projects fail to meet their goals10,11

SALES

Most sales calls are failures…as are most advertising impressions on TV, the web, or in printInternet ads get clicked only about one time for every 1,000 views7,8