There is one thing that all successful entrepreneurs have done consistently… Fail. Is it really failure? Or is it the first incomplete step to success? It’s no secret that our worst fear is often failure. But what if failure was actually a good thing? What if we can learn from those failures?
“It's fine to celebrate success but it is more important to heed the lessons of failure.”
All the great thought leaders are on to something. Encountering our fears and failures prompts the most necessary changes in our lives and our businesses. Every person, and every business, need to fail at some point. Failing is the very seed of growth and success. Of course, the pessimists amongst us, who in some cases will never get it, need some foundation on successful failure.
It creates change
Failure can act as a seed for two things: a road to despair or a springboard to growth. What grows out of the initial failure is entirely up to the person who “failed.” It is easy to become frustrated and lose motivation when things don’t go as planned. Instead, use the failure as a mechanism to reset your perspective, make a mental change or embark on a new needed direction.
Failure is necessary to shake things up. Otherwise, we would coast along comfortably but we wouldn’t make any quantum leaps.
It develops thick skin
Failure has an effect similar to a healed wound. It’s the protective layer we acquire from life’s bumps and grinds. Left soft and unprotected, we easily become injured. Failure builds a thick skin that can help anyone enter the show without fear.
“Success is not final, failure is not final: it is the courage to continue that counts.”
It keeps you grounded
Remaining down to earth and honest is a challenge in today’s business world. When deal after deal is going through seamlessly and business is quickly growing, it’s easy to get an ego.
With that, those experiencing success may resort to dishonesty if it means not losing what they have. They become slaves to success and before realizing it, they’ll do anything to stay on top. Partnerships and friendships are ruined. Family are conflicted. It’s all downhill from there.
Failure humbles us when we so desperately need it. It helps us remember where we came from and keeps us in check.
It produces eureka moments
Failure creates the moment when something is finally seen, found or understood in a way like never before - the eureka moments. It’s just like solving a complicated math problem. It’s tough to understand at first, but walk away for a moment and, suddenly, something clicks. The answer just comes out of nowhere.
But it’s not coming from nowhere. It comes from a buildup within our minds as the constricting thoughts of failure and fear expand. The expansion results in a strong energy that breaks us out of being complacent and into a creative state when things become clear and insight is gained.
"Most great people have attained their greatest success just one step beyond their greatest failure”
It propels growth
Failure prepares us for what lies ahead. Entrepreneurs come across things they didn’t know they needed to know almost every day. Failures catalyze much of this knowledge because they are unexpected. How else do we learn what we don’t know we need to know? It’s never something that can be planned.
It's that last point that stands out. Things that can never be planned. Yes, they do exist. That is something we can't control. However, there are a lot of things that can be controlled and proper planning will help us reduce our failure frequency. That's where we come in for businesses, entrepreneurs and individuals. It’s all in financial life planning. It's all in Keeping Life Current.