According to MarketWatch, Disney’s The Lone Ranger brought in just $48.9 million in its first five days in theaters. Industry experts estimate that the movie cost between $215 million and $250 million to create. With such high production costs, analysts have a bleak outlook that Disney will be able to recoup their costs even with overseas royalties. How in the era of powerful market testing can there be such a big gap between expectations and reality. How can there still be such big box office failures? Many of the biggest bombs are able to recoup revenue through global distribution (see the list of the Biggest Movie Failures).
We have all seen the endless number of quotes on how we should fail more, fail quickly, and fail often but what do we actually do with all of these failures? If we are lucky we might actually take the time to learn from them but usually we quickly take stock in what happened and make a few mental notes to ensure that we don’t do it again. Rarely do we share the details of your our failures even with friends or family and we certainly would never think of revealing our failures with colleagues or perspective employers. Why do we have this inconsistency? We know that failure is a necessary part of learning and growing for both the organization and the individual but we never want to admit to our failures? If our resume is a collection of our successes… where is our failure resume?
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