Why you must embrace failure on the way to success

Failure happens often in business, often as part of the process to success. Business growth has inherent challenges, uncertainties, and complexities. As much as you would like to perpetually succeed, it’s not always going to be the case. Failure is a consistent factor as we learn and grow.

“I have not failed. I’ve just found 10,000 ways that won’t work.” – Thomas A. Edison

How you embrace failure will ultimately determine the growth of your business.

Ideally, you’d view failure for what it is: a lesson on the way to success. Many don’t; they take it personally and get wrapped up in the moment, halting progress towards their goal.

You must analyse what went wrong when you failed to meet your objectives. Put your energy here rather than feeling sorry for yourself. What could you have done differently, and where could you have improved? How will you refine your actions for next time? Trial and error have been and will remain a proven method for growth.

While some quit, rocked by the setback, others accepted the situation and became mentally tougher. It’s all about bouncing back from adversity. If you believe in yourself and the project, you’ll find a way to brush yourself off and try again.

The next step requires creative thinking. Explore options and think outside the box. Innovation emerges from the ashes of failed attempts.

It may be necessary to pivot and re-evaluate your strategy. Rarely is success achieved in a straight line. You must be willing to accept that your first plan just didn’t work; what does Plan B look like, and are you brave enough to say we’re switching to it? Ego plays a part. Are you humbling enough to pause, accept other points of view and rethink your approach?

Equally important is your ability to overcome fear. Fear of failure stops progress far more often than the inability to rethink your approach. Only by embracing failure for what it is, a step towards your goal, will you accept the calculated risk to continue.

“Everything you want is on the other side of fear.”  – Jack Canfield.

 How will you deal with failure next time because there will be a next time?