Innovation in business comes with great rewards and, as Sweden's newly opened Museum of Failure proves, sometimes great and disastrous failures.
Founded by clinical psychologist Samuel West, the museum showcases more than 60 products that were either ahead of their time or just really, really bad ideas.
"We know that 80 to 90 percent of innovation projects, they fail and you never read about them, you don't see them, people don't talk about them," West told CBS News. "And if there's anything we can do from these failures, it's learn from them."
Below are just a few of the innovation failures on display, all celebrated as part of the rough-and-tumble road to success.
In 1993, in an effort capitalize on a trend of clarity equaling "purity and health," Pepsi decided to roll out a version of its popular cola called Crystal Pepsi. During Super Bowl XXVII, the company even ran a commercial set to Van Halen's "Right Now," advertising the drink as "the taste of the future."
While the hype around Crystal Pepsi initially led to the drink capturing an astounding 1 percent of U.S. soft drink sales (a success that moved Coca-Cola to quickly launch Tab Clear), interest quickly waned. By fall 1993, Pepsi had pulled the product. It likely didn't help that, despite being advertised as cola, it had a terrible, citrus taste.
The Apple Newton was a personal digital assistant released in 1993. (Photo: Grant Hutchinson/Flickr)
The perfect example of a product ahead of its time, the Apple Newton was a personal digital assistant about the size of today's iPad Mini but much thicker. Released in 1993 to great fanfare, the product was heralded for its innovative design and technology, but derided for its awful handwriting recognition and high price (about $1,129 when adjusted for inflation).
Despite expectations that it would sell millions of units, Apple only managed to clear a few hundred thousand. Upon his return to Apple in 1997, Steve Jobs killed the product.
Launched in 2003, the N-Gage from Nokia was a product that combined a smartphone and a gaming system into a single device. Featuring a confusing array of buttons, as well as terrible design that earned it the mocking nickname "Taco phone," the N-Gage ultimately suffered from a weak gaming library. After sales of less than 2 million units (Nokia's competitor, the Nintendo Game Boy Advance sold over 80 million.), Nokia pulled the product in 2005.
Colgate Beef Lasagne
In the 1980s, toothpaste giant Colgate came up with the wildly bad idea of selling a range of frozen kitchen entrees. Apparently, the idea was that Colgate toothpaste consumers would be inclined to eat a Colgate-branded dinner before brushing their teeth. (This makes zero sense and just seeing this packaging makes us want to brush our teeth ASAP.)
Considered one of the greatest dot-com busts in history, the website Boo.com burned through more than $135M in only 18 months. (Photo: Museum of Failure/Facebook)
Visit the Museum of Failure and you'll also be treated to an antiquated computer from the turn of the 21st century running a mockup of the legendary dot-com bust Boo.com. Developed as a retail sports and fashion e-commerce site, the company famously burned through $135 million in venture capital in only 18 months. A poorly designed site coupled with an equally-poor management team led to the site shuttering in May 2000.
Want to see some more failures highlighted at the museum? Have a look at curator West spotlighting some additional flops below. As he says in the video, "The purpose of the museum is to show that innovation requires failure. If you're afraid of failure, then you can't innovate."