The Power of Failure

failure

Power of what?

How can one associate failure with power?  Isn’t failure precisely the barrier to achievement?

True, failure or fear of failure is one of the major setbacks among people who would have wanted to go into business.

So many “what ifs” derail the path to entrepreneurship.  What if I lose my shirt, my life savings? What if I quit my stable job only to bite the dust.  What will my family and friends think?  Would I be able to recover not only from financial losses but from loss of self-esteem?

Many successful entrepreneurs, in fact, tried and failed and tried again. Success almost never comes in one “click.”  This is why persistence is known as one of the hallmarks of entrepreneurship.

The most useful lessons come from the experience of failing.  After failing, one knows what pitfalls to avoid.  He becomes more careful the next time around.

When a business attempt does not work, the persistent individual simply tries again.  He starts anew.  He learns to adjust his filter and improve his skills with each new setback.  Thus is the stage set for future success.

Here, from tinybuddha.com are some suggested steps  to turn mistakes into success and help you tap into the “power of failure.”

1. Reframe.

Try to look at the situation from different angles. You might ask your friends or family members to give you their honest feedback. Don’t just look for the type of support that will feed your ego; seek out perspectives from people who may not have been supportive during the process.

The important part of this step is to listen, take in the information, and then synthesize everything you know of your failure into a complete picture of what happened and why.

Try not to react emotionally to anything you discover or that people express to you.

2. Revise.

While you’re gaining a new perspective, be open to ideas for moving forward. People might offer them without you asking. Be prepared for that. Allow them to speak, thank them for their feedback, and move on.

When you feel like you have enough ideas to form a new plan of action, write them out on paper.

You may have to detach a little bit and pretend you’re looking at someone else’s situation, especially when people are offering varied suggestions.

3. Refocus.

Once you have a new plan or at least an idea of how you want to proceed, the most crucial thing you can do to overcome feeling like a failure is to embrace your new path and focus.

 

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