Why Business Failure is Vital to Success : Under30CEO Why Business Failure is Vital to Success : Under30CEO
arrow
Join the Under30CEO Community We deliver tips, tools and inspiration for your business. Daily to your inbox.

Why Business Failure is Vital to Success

| February 9, 2011 | 13 Comments

business failure

The perception of a business failure

A business failure is a negative and depressing event, one without any value, something that most entrepreneurs would soon want to forget and wished never happened.  The results of a failed business will include a great deal of stress in many areas of one’s life; personal, professional and financial.  After sacrificing so much of your time and energy trying to turn your vision into a reality only to see it fall apart is certainly devastating.  Having to face and cope with something like that would make one feel like crawling into a hole and taking the hole with them.  Hard to imagine the misery and darkness one suffers from that kind a failure, why would anyone put themselves through something like that?

The Flipside

A failed business venture is part of a journey, and the path to success.  Without the experience and knowledge gained thru this undertaking you would be less likely to find success in the future.  The fact that you attempted to fulfill your dream is commendable, regardless of the outcome.  So many are afraid to take the risk and go after their dreams.  If you are passionate enough about your pursuits your recent failure should only be a small stumbling point in realizing your goals.  Because you tried and failed you are now armed with a wealth of real world experience, that alone is invaluable, something that you could not have learned unless you actually tried.  The education you gained from your past experiences should make you confident and excited about future prospects for success.

The Choice is Yours

The above are both very different ways of viewing a failed business experience. The bottom line is they are both conscious choices you must make.  When you choose to change how you perceive your experience you will be aligned in a whole new way.  Shifting into a mindset of positive learning is a powerful tool. When you change your way of looking at these experiences you are in a state of mind that allows new opportunities and possibilities to be revealed to you. Seeing your failure as a lesson for growth and learning is a great step in this direction.  This may be a new concept to many who have been conditioned by our society with the belief that failure, in particular a failed business venture is inherently a negative experience without value. When in reality that point of view is a choice.

Failing is succeeding

Failing is a tough pill to swallow and no one wants to give up, but seeing the positive side of one’s circumstances positions them for greater chances to find success in the future.  Perseverance, intestinal fortitude and positivity all comes from your attitude and perspective.  If you are defeated and negative after a failure, how is that going to help you today or tomorrow?  As an entrepreneur or even as a human being you would be done before you even began if your mental state and personal perspective was one of negativity and a general defeated attitude. Choosing to see a failed business venture as an opportunity for growth and as a valuable learning tool only increases your likelihood for future prospects.

I see failure simply as a form of success, so much so in fact that I would go as far as to say it is the foundation of success. Learning from success is important, but learning from failure is vital to succeeding.  Adopting this type of mindset is a powerful tool for an entrepreneur.  If you see all your attempts as part of the road to succeeding and even a vital necessity, then are they even failures at all?  The answer is they are only failures if you ultimately threw in the towel as an entrepreneur and even more so if you denied yourself the opportunity to learn from those experiences.

Let There Be Light

The act of sharing your experience and letting go of the negative baggage you carry can be very freeing and therapeutic. In what seems like your greatest failure you can gain such clarity and insight. A great way of looking at your failure is with the realization that it had to happen. The turning point can be what you choose to do with that experience. You can use it to lift the veil we have been conditioned to wear and light up the darkness of failure.

Failure offers countless opportunities to learn and grow. It all starts with a change in perception. You can change your way of viewing these experiences from feeling sorry for yourself to one of gratitude and positivity.  You are in good company; most entrepreneurs had to go thru failure before finding success. You can move forward with confidence knowing that your failure is no failure at all. It is part of your journey in finding success.

My belief in learning and growing from a failed business venture has led me to create a place where entrepreneurs can share their experiences. Diedonthevine.com is a resource to explore the invaluable benefits of failure and to help the entrepreneurial community to evolve and step into the light.

Jason Platnick is the co-creator of DiedOnTheVine.com a website committed to helping entrepreneurs align their ambitions with others experience. The site is breaking new ground in the area of entrepreneurship, and challenging society’s perceptions of business failure. As it grows it will undoubtedly become an invaluable resource for the aspiring entrepreneur.

Opt In Image
Awesome People + Awesome Places
Travel around the world while making new friends

Under30Experiences curates awesome experiences around the world for young travelers.

Tags: , , ,

Category: Startup Advice

  • Pingback: Tweets that mention Why Business Failure is Vital to Success: The perception of a business failureA business failure is a negative ... -- Topsy.com

  • Jencombs

    There are valuable lessons to be learned from a failed business. Great article….

  • Anonymous

    Great Article.

    There will be more knowledge to how to improve the business if we fail and we will concentrate on that area and do a good job

  • http://absolutpurpose.com/blog Brian Cox

    Everyone has some experience with failure, large or small. Personally through my own failures I’ve found that I have a strange personality trait. I have a detachment from my business account, I see the numbers and how the money is used but if a new event or venture is a failure I just write it off and move on to the next thing. I skip the depression and look for a new focus of my efforts. After all of the accounting is done me and my business partner have a short meeting, discus what could be done differently or if the idea should be abandoned and move on. Live and learn, forgive and forget. Just around the corner could be your next success, don’t get discouraged.

  • http://twitter.com/barrymoltz barrymoltz

    My opinion, its just a bunch of fiction- these are stories that when we fail, we tell ourselves to feel better. Failure is part of the business cycle- its not good or bad. Learn what you can, let go and move on to give yourself another chance at success!

  • Pingback: The Positive Side Of Failures | I Think Positive

  • http://www.birthdayslam.com Jeff Robinson

     Good valuable advice. I wrote this blog and I hope you and your readers enjoy it.

    Must We Fail Before We Succeed?

    We’ve all heard stories of entrepreneurs who achieved great financial success, but endured a litany of failures en route. Some people claim that it’s virtually impossible to build a successful business if you haven’t first had at least one business failure. They reason that we only know how much risk we can safely take when we know how much risk is too much. In short, is there some immutable law, which stipulates that failure is a prerequisite for success? As with questions raised by most popular maxims, the answer depends on circumstances. In this case, it depends on four factors.

    More here:
    http://contrariansmind.wordpress.com/2012/04/08/must-we-fail-before-we-succeed-in-business/

  • http://www.birthdayslam.com Jeff Robinson

     Good valuable advice. I wrote this blog and I hope you and your readers enjoy it.

    Must We Fail Before We Succeed?

    We’ve all heard stories of entrepreneurs who achieved great financial success, but endured a litany of failures en route. Some people claim that it’s virtually impossible to build a successful business if you haven’t first had at least one business failure. They reason that we only know how much risk we can safely take when we know how much risk is too much. In short, is there some immutable law, which stipulates that failure is a prerequisite for success? As with questions raised by most popular maxims, the answer depends on circumstances. In this case, it depends on four factors.

    More here:
    http://contrariansmind.wordpress.com/2012/04/08/must-we-fail-before-we-succeed-in-business/

  • Pingback: Failing in Business is Easy - Clarity for the Boss

  • Pingback: We Kept Overhead Low. Is This The Social Change We Hope to Leave Behind? | ChangingMedia

  • Pingback: The Unseen Art of Business

  • Pingback: Why Owning Failure Makes Good Business Sense | l_salva Blog

  • Pingback: How to cope with small business failure | My Bank | Helpful Financial Support for Business Owners