How in The World Could Embracing Failure Actually HELP Your New Business?
It’s probably not the kind of advice that most entrepreneurs and business people like to get, but there is much to be gained from embracing failure.
The distinction that must be kept in mind is that embracing something does not mean actively looking for it.
If failure finds you, however, embrace it. Not lovingly, but deeply, objectively, and critically.
Stare it straight-in-the-eye, plunge its depths, and look into every corner. Learn its history, know its dynamics, and be sure that this particular kind of failure does not come back and find you again.
This sounds like the old conventional wisdom regarding "Learning from One’s Mistakes." Heard that one before – right?
But . . . is it really being taken seriously and is it really being put to use?
Unfortunately, one’s failures are usually cloaked in a veil of negativity, obscured by a wall of denial, or buried 20 feet below the surface in a mental toxic dump.
It is, of course, understandably difficult to embrace and look deeply into something you would really rather just forget about.
But . . . forgetting about a failure won’t help you to do what’s necessary to ensure it won’t happen again.
On the other hand, getting close enough to a failure to examine it thoroughly, objectively, and critically can be like picking up a pot of hot boiling water without a pot-holder.
The "trick" is to be able to step outside the situation and look at it as though it happened to someone else. Think of it as though it were a business school essay question: "What Could Have Been Done to Avoid This Situation?"
Sometimes the negativity surrounding a failure comes from others who are judging you by that failure. If this is the case, you should perhaps begin to consider that you may have chosen the wrong partners or associates to do business with.
There is, of course, no denying that constructive and objective criticism from others can be as good as gold.
Judgmental, sarcastic, or belittling criticism, however, can often do more harm than good.
If you’ve learned something from the experience, you’re better off for it. Period.
You’re now much better prepared to embark on that previously unsuccessful course of action once again.
This time, however, you won’t be doing those things that you’ve learned will have a negative effect on the outcome.
And then, there is the thorny matter of the pain, financial loss, or humiliation that went along with that previously unsuccessful course of action.
Consider that pain, loss, or humiliation the cost of tuition for a lesson well-learned in the Real-World School of Business.
Now that you’ve learned something and you’ve paid for it, be sure to put it into use – but, also be sure that you are actually using everything you’ve learned.
In other words, "don’t miss a trick," look in every direction for the detour signs, and never be afraid to micro-manage (others or yourself if needed).
Keeping all of this in mind, the other important part of dealing with failure is to never be afraid of it.
In the Real World, you can’t really expect every thing to go right all the time.
But . . . you know that already – don’t you?
Sometimes, in their personal, business, or academic life, people can be hesitant to do something they could genuinely benefit from – simply because they’re afraid that the attempt won’t be successful.
I think we’ve all had a chance to see this occur sadly, painfully, and sometimes catastrophically in both professional and personal situations.
If you fall into that unfortunate category of succumbing to unwarranted hesitation, you will need to overcome that obstacle. If you don’t, you may find it difficult (if not impossible) to be successful, improve your life, or even get close to becoming the person you really should be.
You should, of course, always look in every possible direction before crossing the street, but also understand that you will need to eventually cross that street if you plan on ever getting to the other side.
And if you do fail at a first attempt, you will at least learn something from it that will help you to succeed when you try again. Nothing is ever truly free, so try not to feel too bad if there’s a tuition payment that comes out of that first attempt.
That’s sometimes called paying your dues, but some highly successful people prefer to think of it as their membership fees.
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