Skip to main content Skip to main navigation

Why You NEED to Fail 16% of the Time?

Wayne Rivers
By Wayne Rivers
8 minutes

Adam Alter, writing in “Smart Skills” in 2023, claims that “success is impossible without some degree of failure.” Allowing that this is probably quite true, what should a reasonable failure rate look like? Should you miss the mark half the time? One-third? How did Alter arrive at the precise rate of 15.83% of the time?

Please tune in this week as Wayne reviews this article, gives you a paradoxical pathway to success championed by both Einstein and Mozart, and asks the question: “How would a 16% failure rate look in the real world of construction? What do you think? Is this concept academic gobbledygook, or is it an aid to help you improve? Please share with us in the comments.

The last Contractor Business Boot Camp class for 2024 begins in August in Denver. Invest in your high potential leaders and give them the opportunity to learn the skills required to run a successful construction business from industry experts and peers alike. The seats are filling up fast so act NOW. Please contact Charlotte at ckopp3@performanceconstruction.com for more information.

Related articles

Reader Mail

In this week's vlog, Wayne shares three emails from our contractor audience and a thought provoking article forwarded by Chris Manning of Overaa Construction which challenges some of our points in the February vlog about micromanagement. What are your reactions? Has the micromanagement pendulum swung too far?

Email Notification

Related articles

Shirtsleeves to Shirtsleeves in Three Generations?

Researcher James Grubman wrote in the periodical Globe Law and Business about a cliché we have all heard: “Shirtsleeves to shirtsleeves in three generations.” He analyzes the academic pursuits which attempted to quantify this phenomenon and has some interesting observations. Is it true? Do successful entrepreneurial enterprises really rise and fall so predictably over a lifespan of just three generations?

One hand passing baton to another

Related articles

The More Things Change...

In January of 2025, Brown Brothers Harriman, an investment bank, produced their “Private Business Owner Survey.” They interviewed 400 private business owners who own firms generating between $50 million to over $1 billion. That revenue range is almost a perfect overlap with our members, so that makes their findings even more compelling. You’re not going to believe what they found!

Businessman jumping from smaller fishbowl to a bigger one

Subscribe for updates