Calculating Failure into your Success Equation | Trey Bowles | TEDxPlano

Redefining Success - Traditional societal norms equate success with financial wealth, measured in "dollars and cents," leading to potential anxiety and depression if not achieved [1] - The company advocates for a new success equation: Success = Purpose + Perseverance * Failure, where failure is redefined as learning [2][5][13] - Purpose is defined as personal fulfillment, contentment, or impact, driving daily actions and defining individual success [2][3] The Role of Failure - Failure is essential for growth, innovation, and business pivots, fostering a culture where mistakes are learning opportunities [1][8][13] - Embracing failure leads to catalytic growth, unlocking innovation, and enabling employees to dare to do amazing things [1] - The company used to celebrate failures to encourage continuous improvement and risk-taking [9] Business Strategy and Mindset - Even if the outcome of a business cannot be controlled, the contribution to the process can be, emphasizing commitment and hard work [7] - Surrounding oneself with great people fosters growth, learning, and an environment conducive to success [8] - Authenticity and transparency in sharing failures create camaraderie and encouragement within the company [10][11]