Director of the Failure Institute and co-founder of F*ckUp Nights Leticia Gasca talks about how good it is to talk about failures. She ran a failed business herself and for years she didn't want to talk about it with anyone. When at some point she talked about it with others, they all agreed it was the most meaningful business conversation they'd ever had. Allen invited a few friends to talk about their failures and this turned out to be the very first F*ckUp Night. These events became more popular and soon hundreds of entrepreneurs came to learn from each other's mistakes. It emerged from these conversations that there are three main factors that make a company fail. First, a lack of resources and infrastructure, for example, due to the lack of support funds or not having the skills to obtain a fund. Context can also be a problem, if the environment of the company is not suitable for the company, can it go wrong. Finally, the problem can also lie with the management. This can be due to conflicts between the partners and a lack of clarity in the definition of responsibilities.
(Source: NextBillion)

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