{"id":43193,"date":"2016-08-09T19:52:20","date_gmt":"2016-08-10T03:52:20","guid":{"rendered":"https:\/\/www.pickthebrain.com\/?p=43193"},"modified":"2017-05-27T08:48:56","modified_gmt":"2017-05-27T16:48:56","slug":"9-reasons-why-failure-should-be-an-asset-to-every-entrepreneur","status":"publish","type":"post","link":"https:\/\/www.pickthebrain.com\/blog\/9-reasons-why-failure-should-be-an-asset-to-every-entrepreneur\/","title":{"rendered":"9 Reasons Why Failure Should be an Asset to Every Entrepreneur"},"content":{"rendered":"
<\/div>

You are an entrepreneur (or you definitely want to be one). And like all the other entrepreneurs, you are obsessed with success. Your work is your driving passion, and you probably equate failure with a personal shortcoming.<\/p>\n

Let\u2019s face it – nobody wants to fail. But\u00a0some failure is inevitable \u2014 at least it is if you ever hope to succeed.<\/p>\n

Here are nine reasons why failure is not the end of the world, and may in fact lead to much greater success especially if you’re an entrepreneur.<\/p>\n

    \n
  1. \n

    Failure Keeps You Humble<\/strong><\/h1>\n<\/li>\n<\/ol>\n

    Nothing will check your ego quite like admitting defeat. When your business falls apart and you\u2019re left picking up the pieces, it can be hard to rebuild the confidence you had when you first started. This humility prepares you for your eventual success by ensuring that you\u2019re not over-confident. It teaches you to recognize things as they are, and to (eventually) laugh at yourself.<\/p>\n

      \n
    1. \n

      Failure Shows that You\u2019re Willing to Take Risks<\/strong><\/h1>\n<\/li>\n<\/ol>\n

      \u201cDo the one thing you think you cannot do. Fail at it. Try again. Do better the second time.\u201d \u2013Oprah Winfrey<\/p>\n

      Being willing to try something new is the backbone of innovation. Successful entrepreneurs<\/a> thrive because they see a better way to do things, and take the leap. Having a fear of failure is acceptable, but we must not let this paralyze us. So your first great idea didn\u2019t catch on? No big deal. Accept it, and know that next time, you\u2019ll do better.<\/p>\n

        \n
      1. \n

        Failure Grows Your Network<\/strong><\/h1>\n<\/li>\n<\/ol>\n

        Have you ever been stuck behind a bad car accident? Emergency crews make up part of the delay, but it\u2019s the curious onlookers who are largely responsible. This same principle is active in our business wrecks as well. When we fail, others want to know about it. They want to see how it happened, how you\u2019ve recovered, and if you\u2019re ever going to try again. And guess what? They\u2019ve probably failed, too. Acknowledging your failure shows others that you gave it your all and are willing to share your experience. You may learn the key to success from a friend who failed in an entirely different way, or connect with someone who can benefit from the lessons you\u2019ve learned. Don\u2019t be afraid to admit defeat. You never know who you may help, and how that connection may benefit you in the future!<\/p>\n

          \n
        1. \n

          Failure Teaches You What Not to Do<\/strong><\/h1>\n<\/li>\n<\/ol>\n

          Your best idea didn\u2019t pan out. You\u2019re upset, worried, and a little embarrassed. What you may not realize now is that you\u2019ve been given the best examples<\/a> of how not<\/em> to do things in the future! There is no greater teacher than getting it wrong the first time. Don\u2019t be afraid to try again, and make sure you implement what you have learned. Take time to analyze where things went wrong, and what you can do differently next time.<\/p>\n

            \n
          1. \n

            Failure Saves You Precious Time and Money<\/strong><\/h1>\n<\/li>\n<\/ol>\n

            Starting your own business is an incredible drain on your resources\u2014mentally, physically, and financially. Accepting an inevitable failure can save you from investing more of your energy on a sinking enterprise. It allows you to shift gears and pool your remaining resources elsewhere.<\/p>\n

              \n
            1. \n

              Failure Gives You a Fresh Start<\/strong><\/h1>\n<\/li>\n<\/ol>\n

              Remember back before you failed, and you were excited, energized, and motivated to try something new? You now have the opportunity to connect with those feelings again! No longer are you tied to the disappointment of things not working out. You get to start fresh, and with the knowledge of what to look out for.<\/p>\n

                \n
              1. \n

                Failing Allows You to Recognize the Signs<\/strong><\/h1>\n<\/li>\n<\/ol>\n

                When did you first realize that failure was inevitable? Was it a gut instinct? A bad return? A loss of profit? You\u2019re now ready to begin again, and you\u2019ve been given the ability to recognize when things start to go south. Listen to your instincts, and react quickly if things seem to take a turn for the worst. You may be able to save it this time. If not, be sure to implement #4.<\/p>\n

                  \n
                1. \n

                  Failure Makes You Appreciate Success<\/strong><\/h1>\n<\/li>\n<\/ol>\n

                  \u201cIt had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things.\u201d \u2013Leonardo da Vinci<\/p>\n

                  Nothing makes you appreciate something more than having to earn it. Remember when you were a child and desperately wanted a specific toy? Maybe everyone else had it already, or it was the last one at the store. You just had to have it. It had to be yours. And your parents would let you buy it – if you earned the money. How proud were you when you left the store, toy-in-hand? Success works the same way. When we focus our energy and desire on a goal and work hard consistently, it is that much more rewarding in the end. This doesn\u2019t happen without a few failures along the way.<\/p>\n

                    \n
                  1. \n

                    Failure Shows Us that We Are Resilient<\/strong><\/h1>\n<\/li>\n<\/ol>\n

                    So you\u2019ve failed brilliantly. Your hard work didn\u2019t pay off. Your vision didn\u2019t come true. You\u2019re not exactly sure how you\u2019ve gotten here, or where to go next. Take a deep breath, and look around. You\u2019re still breathing. You\u2019re not in imminent danger. The worst is over, and now all that\u2019s left is to wipe the slate clean and begin again. Don\u2019t let this stop you from moving forward. You\u2019ve lived through the worst-case scenario once already, and know what to do differently next time. Failure cannot defeat you unless you let it.<\/p>\n

                    Entrepreneurs can take comfort in knowing that failure is not the end<\/a>. If we embrace it and learn from it, we can grow from each experience and move on to more successful ventures. Don\u2019t be afraid to admit defeat\u2014to yourself, or others, as it can save you valuable resources, and connect you with people who are in a similar situation. And finally, realize that failure is not going to kill you. It may have set you back, but you can turn it into an asset and move forward with your next brilliant innovation. The world needs people who are willing to push past their fears, and embrace possibility.<\/p>\n

                    Have you ever failed miserably in something that you really wish you hadn\u2019t? Share with us in the comments, and let us know the lessons you\u2019ve learned along the way.<\/p>\n

                    \n

                    Soham is a freelance writer, blogger and online entrepreneur from Nepal. He helps businesses and online enterprises with content and digital marketing. When he\u2019s not working, he\u2019s probably talking science and spirituality with his friends at some caf\u00e9 around the corner in Kathmandu.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

                    You are an entrepreneur (or you definitely want to be one). And like all the other entrepreneurs, you are obsessed with success. Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":11500,"featured_media":43195,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[205,9,31],"tags":[5305,233,318,66,5354],"yoast_head":"\n9 Reasons Why Failure Should be an Asset to Every Entrepreneur<\/title>\n<meta name=\"description\" content=\"You are an entrepreneur (or you definitely want to be one). 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