There is no shame in failing. In fact, failure is one of the greatest teachers, is something every successful person would tell you. And this holds true even in the startup world – entrepreneurs often face disappointment and failure at several stages of their journey, however, only those who are patient and intelligent enough to learn and move on, without repeating the mistakes, create history in terms of businesses we all look up to.
In fact, a pivot, one of the most popular buzzwords in the startup world currently, simply means a setback or an experience that changes the face or direction of your business completely. A very positive way to harness failure for growth, indeed.
Today, we share 5 things failure can teach you about success:
Personal growth – Failure can help you rediscover your strengths and find your real self. When you fail, you understand the importance of success, and realise the value of your family and friends who swear by you during thick and thin.
Professional Growth – This may sound impractical to some, but failure can lead to professional growth if leveraged in the right sense. Failures not only provide you with the opportunity to objectively analyze what went wrong but also present the opportunity for the entire team to come together and brainstorm new strategies for success.
Positivity – Rising from a failure is one of the biggest lessons in positivity. Failure teaches you to control your thoughts and tame your mind. We all know how our thoughts turn into reality shaping our lives. So staying positive in times of tribulation and focusing on the success you deserve could be the key to transforming any setback into victory.
Financial Management – Several young companies fall into a cycle of debt, especially because the focus in early stages is usually placed on numbers and not on sustainable business models. A failure can provide an entrepreneur with the financial insight that is important for the ultimate success of any business.
Light follows Dark – Many a great person stumbled before they took the flight to success. And therein lies the most important lesson for everyone – success follows failure, only if one perseveres. Instead of giving up, if you could practically analyze the situation, accept your mistakes and re-strategize, there is no doubt you will reach your destination sooner or later, richer with experience and hindsight.
There is no shame in failing and starting over again. Einstein and Steve Jobs felt proud in sharing their failures that shaped their success. So take heart and don’t let anything break you down on your entrepreneurial journey; a failure is but a stepping-stone in your journey.
26th May 2017
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