Research shows that project failure is common. Despite disagreement amongst researchers on the extent of new venture failure, the fact remains, many of these fail as well. What can we learn in order to move forward successfully from these events? In this presentation Dean will share insights about learning from failure from a recently published paper of his in the December 2011 Academy of Management Journal and a recently published book (Lemons to Lemonade: Squeeze every last drop of success out of your mistakes). He considers the implications that this has for new ventures, the venture creation process, and society. Deans interest in this area, has been fuelled by seeing his father's (his) family business fail leading to his first hand experience and subsequent study of this area.