[Kevinjmireles]

Fail quickly doesn't mean let your company fail. The goal is to figure out what doesn't work.Too many people try to develop a perfect product, etc... instead of investing the minimum amount required to get feedback and test the concepts with customers, stakeholders etc... It's better to discover that your great idea won't work with a paper sketch than to discover the issues after you've invested 6 months in development.

So fail quickly is about taking risks, making mistakes and learning as rapidly and as cheaply as possible - so ultimately you can be successful in the long run.