Why one company keeps a failure catalog

10/17/2013 | Fast Company online

Whether you're an entrepreneur or investor, it's critical to analyze your missteps, write David Kelley and Tom Kelley in this book excerpt. "To learn from failure ... you have to 'own' it," they write. "You have to figure out what went wrong and what to do better next time." One company that has taken this idea to heart is Bessemer Venture Partners, which keeps a record of its most glaring misjudgments.

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