Business failure stings deeply.
“Those who dare to fail miserably can achieve greatly.” – John F. Kennedy.
Failure is an essential factor of business. Getting out of your comfort zone and being innovative ensures growth. Expecting to win every time is foolhardy. Over time, everyone who tries something new will fail.
Those who persevere become more resilient, adapt, and more often succeed.
In nearly every social setting, someone talks about their success story. Rarely do people honestly discuss failure.
Candid conversations about failure are far more valuable than bragging about success.
Rather than making failure a taboo, we created Failsafe, a program that enables business owners to share, learn and accept failure as one step to success. Failsafe fosters an environment of learning, resilience, and innovation, which is essential for every business owner.
Sharing failures cultivates resilience. Discussing failures openly helps in normalising them as part of the entrepreneurial process. Resilient entrepreneurs are more likely to persist in the face of challenges and are better equipped to handle the ups and downs of business.
Failsafe encourages innovation. When business owners come together to discuss failures, they share what didn’t work and brainstorm ideas that may work. Participants can collaborate, combining their unique experiences and perspectives to develop progressive solutions, strategies, and more robust, sustainable business models.
Recounting past mistakes in and of itself is counterproductive.
