When someone fails, the first reaction is almost always to hide it away. But, if it would have been that way then many discoveries would not have taken place. Rather than hiding away your failures in a closet, publish them, make them widely available. This will help someone else to not repeat the same mistake. Also, it will help you to challenge your perspective and look for an alternate world view. ………….. Lumiferous ether was one of the widely researched topics and there were innumerous treatise on the failures of it. A scientist in the patent department challenged the way the world had been looking at the problem and the theory of relativity was formed.
There are at least 10 more people in the world who would be working on the same idea as you have got. What matters is who can bring together different experiences to turn it into a viable product. There is no dearth of ideas and innovation is the only truth. …………… Early in 18th century, Malthus had published an essay on theory of population. He had proposed that the human population grows exponentially (i.e., doubling with each cycle) while food production grows at an arithmetic rate. He calculated that in middle of nineteenth century, the food supplies will be scarce, resulting in chaos. The civilizations will cease to exist and the world will usher again in dark ages. But that has not happened. Partially because the Little Ice Age ended in the latter half of the 19th century or early in the 20th century, resulting in increased land productivitiy. And partially because the world had learnt to produce more with less resource. The innovations in crop sciences had enabled to produce more with less resources. As said, there never has been scarcity of ideas and innovation is the only truth.
Once you are on a path, life will suck you along. You need to stand back and ask if this is what you desire from your life. If the answer comes no, you need to reinvent yourself, correct the course of your journey. You need to be strategically unfocused. Stand back.
For entrepreneurs it is required to have a realist in the team. If all are optimist then all will jump off the ledge. There should be at least one in the team who is constructively realist.
Live in multiple worlds. It has been found that the people who are good at two or more areas are better off to be entrepreneurs.
Build your social Network. Do it always. Evangelize yourself. Always be selling yourself.