Here's how you can conquer the fear of failure in entrepreneurial ventures as an engineering manager.

I started by joining forums and groups. Answering questions and showing others how CMM Programming worked. Basically, becoming the “expert” on the forums, groups, etc… It helps to get your name out there. I used my 40+ years experience to help others, and that was appreciated when I started my own consulting business. It takes time to develop relationships in the technical fields. Stay on course, put in the hard work and it will happen.

Analysing is an extremely effective tool for any Engineering Manager. Take the time to evaluate both achievements and mistakes to determine what worked and what did not.

It’s important to seek out individuals who are open to risk or have a positive outlook on risk for the embrace risk aspect. Having these individuals on a team can drive the group to be more proactive and forward-leaning in tackling challenges. Moreover, it’s crucial for the leadership team to embrace the riskier side of innovation, viewing risk not as a failure but as a valuable data point. This mindset shifts the perspective from fearing failure to understanding that each risk taken is a step closer to the desired outcome, fostering an environment where innovation thrives.

DATA! Numbers don't lie. Execute your day-to-day activities with as much data as possible. Drive processes with data - Be it appraisals, managerial decisions, brainstorming sessions etc. Also, the data behind failures should be encouraged and explored to prevent future re-occurance.

Hopefully every time you fail you learn something so look at any new thing as a chance to learn. Learn fast so you can use the knowledge to succeed. Failure is not an issue, not learning from the failure is an issue. Do not be afraid to change direction at any point when you find failure. Don't waste time continuing down a path once failure is obvious or you discover a better solution during development. People tend to treat their own ideas as their baby. Don't get too attached to an idea and always be looking for better solutions even when the current one is working fine.

Overcoming the fear of failure in entrepreneurial ventures as an engineering manager involves embracing failure as a learning opportunity, leveraging problem-solving and data-driven decision-making skills, and creating detailed business and contingency plans. Building a support system through mentorship and team collaboration, developing emotional resilience with mindfulness and work-life balance, and taking small steps with an MVP approach can also help. Staying adaptable and informed by continuously learning and being flexible, while reframing failure as a part of growth, can transform fear into motivation and drive for success.

Saw great quote this week from Danny Meyer, restauranter. "The path to success if paved with mistakes well handled". Things will go wrong, sometimes even when you do everything right. R&D and product development is typically not a straight line. I suggest keeping the work under wraps until you have done enough testing to have confidence in the product, design, software, or whatever you are working on. You wouldn't release a new product into the market with known quality issues. Sometimes showing a rough prototype to a broad audience can be bad. Know your audience. A group of fellow engineers, OK, show them the prototype attached to 2X4's. The senior sales and marketing team, may wait till it is a little more polished.