Embracing Failure

| January 25, 2008 | 3 Replies
According to an article in the New York Times today, successful entrepreneurs say that they have learned as much from their failures as their successes.  As a firm believer in learning from mistakes, I posted part of this article below. 
  
Failures underscore the need to take chances. The cliché is right: If you take no risks, there will be no rewards. And if you are taking risks, almost by definition, you are going to fail at some point.
Success can breed complacency. If everything goes right all the time, you are less likely to try something new.

Failure can force you to rethink every assumption. When something goes wrong, not only do you consider the various means of fixing that particular problem, you notch up your thinking to identify those broader elements that may have led to the problem and others like it. And down the line, that can mean solutions and adjustments before any further problems even crop up.

It can be difficult to convince yourself that failure is all right. If you need to remind yourself that it is, pick up the book “Whoever Makes the Most Mistakes Wins: The Paradox of Innovation,” by Richard Farson and Ralph Keyes.

Their basic argument is that if you are not making mistakes, you are not trying hard enough and if you think that winning is all that matters, you are bound to be too cautious.

In conclusion, don’t let yourself get down over a failure.  You’re going to make more mistakes in the future, so use them to learn and grow.  Then you will enjoy your success much more when the time comes.

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Category: Business, Investing, Real Estate, Success

About the Author ()

Rob Myrick is a entrepreneur, web designer, and blogger who resides in Phoenix, Arizona. He works with entrepreneurs who have the need to take their product to the Internet, or who simply need marketing skills as a supporting strategy to their existing business. Rob has worked for several well-known entrepreneurs such as top blogger Katie Freiling, and also businesses such as The Startup Garage located in San Diego, CA.

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  1. Failure, what should I do with you? « Life Life Life … | January 26, 2008
  1. LifeX3 says:

    Man! I’m glad I am here reading this. It’s such a God-sent comfort for me. I run a china sourcing business and business is not that good over the last year. I feel like a real failure. I feel guilty. I feel like a loser! I was mad at myself. This is a good piece Robert! Thank you!

  2. Ryan Moore says:

    Rob,

    Great use of other people’s content. I like the topic.

    You’ve added some cool content to your side bar as well. I’m going to have to start taking some of your ideas.

    Keep it up!

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