What the Olympic opening ceremonies can teach you about failure

A hiccup during the opening ceremony of the Winter Olympics in Sochi, Russia, is instructive for entrepreneurs, writes Elizabeth Gerber of Northwestern University. One of the synthetic snowflakes created for the event failed to turn into an Olympic ring, and the mistake was broadcast to millions of viewers around the world. For entrepreneurs, the takeaway "is that mistakes ahead of time can be fixed," she writes. "Mistakes during the launch can be costly."

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