Failure is Not as Bad as You Think
In school, teachers tell pupils that failure is awful. When a business collapses or goes bankrupt, we say it has failed. Each day, we are reminded that failure is something negative.
Have you ever thought of the benefits of failing? Well, I know you will not agree with my argument that failure has benefits, but I am sure, you will wish that I never concluded this article.
Failure presents an opportunity for you to learn! The lesson we learn is the loss we encounter. Thomas A. Edison said, “I have not failed. I have just found 10,000 ways that won`t work.”
Instead of failure becoming “lack of success”, it is part of the trial and error process. Thus, if you try an idea that doesn’t work, it brings you closer to the idea that works.
Learn from failure and understand that it is not advisable to experience it twice. Otherwise, if you keep on failing, learning and not understanding the lesson, you will greatly waste your resources.
2. Failure is an occurrence you should get used to
Just like accounting and marketing, failure is a normal business process. To survive, you should get used to failure.
It is a common occurrence and in some situations, you should expect it. Such behavior doesn’t make you a failure, instead, it portrays you as a savvy business owner who can forecast and prepare for the future.
Well, I know you like seizing opportunities. Are you a prophet to know which one is profitable and which one will not bear any fruit? You are not. The only way to know if an opportunity is valuable is to try. If the idea doesn’t work, you meet failure, and now you get the chance to learn that, that idea cannot work in the current environment.
3. Never take failure lightly
Hey! Look here, mistakes are very expensive. In fact, some mistakes are unaffordable, and this means you should never take failure lightly.
More importantly, if you can forecast failure, deal with the possible causes. Or, spot it in your business and deal with it. Otherwise, mistakes will keep on recurring in your business until you learn to fix them. Recurring mistakes can be extremely costly and fatal to your business.
Well, does the downside of failure outweigh the benefits? Ensure that you can identify failure when it occurs and pinpoint the lesson you learn.
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