That makes managers afraid to take a gamble. It's not that way in the Valley, and not just for twentysomething entrepreneurs. The tolerance of failure is an intensely positive thing that people can learn from and apply,'' says Larry Keeley, president of Doblin Group, a consulting firm. That's why venture capitalists don't mind backing entrepreneurs who have had a couple of flops. It's hard to learn when you succeed.'' Let ideas incubate.
Valley companies excel at the early, often muddy stages of a business.
The key is to give the ideas breathing room. Don't require a 20-page business plan and detailed market research for every interesting notion. This is a place that grows out of the rubble of the old innovations,'' says Paul Saffo, of the Institute for the Future. Learn to live with creative chaos. Silicon Valley isn't just about speed and shortening product cycles.