English 
Business should be built on the idea that failure isn’t a dirty word.
Let’s be honest – failing is an awful feeling. For most business owners, their business represents years of blood, sweat, and tears. Business failures are a necessary part of the success cycle of any business. So, take a breath…all is NOT lost! While there are not many examples of successful business failures, there are many examples of unsuccessful businesses that were less than perfect.
6 ways that business failure can lead to success
- Be Honest with Yourself: One of the most important lessons to learn is the power of failure. If we fail repeatedly at business, we can eventually improve it. This may seem silly as it’s easy to think “ok I’m good at this, and I need to keep doing this”, but failure can help us better define what we are doing, how we are going about it, and what would be an effective change in direction.
- See Failure as a Teacher: Business success often comes with experience. It is common for women to start a company, but when difficulties arise, they often quit their businesses or start over from scratch. Some would say that instead of quitting businesses you should hire others to work by your side. It is more important to learn from failures. Use the lesson of the failure to adapt.
- Learn to Love Change: Business failure is not always bad. In fact, it can lead to new opportunities and a revitalized interest in your product or service. Failure is an essential part of a productive entrepreneurial journey and should be recognized as such. Failure should help discover questions about how we run our business, how successful combinations between different resources work, and whether steps are truly worth taking.
- Evaluate Your Resources: The last thing you want to do in life is to do the same thing repeatedly and expect different results. Successful people learn to utilize all available resources—including personal contacts and professional connections—to reap the maximum benefits from taking risks in new directions.
- Try, Try, Try Again: Failing means taking the path less traveled and then trying again, learning from your mistake, adapting, and getting better at the same time. Failure is the best teacher because it forces us to think outside the box, to consider alternative ways to solve a problem, or to re-evaluate our assumptions. It also leads to building habits; patterns that become second nature and keep you on track toward your main goal.
- Change Your “Why”: Failure happens all the time, sometimes unexpectedly, sometimes in clear and present danger. Failure instigates an analysis of what went wrong and what can be done differently next time. This is where business growth comes from. Once you understand the benefits that come from failing – and why it’s ultimately good for business – you’ll be more aware of how you react the following failure as well. Failure doesn’t have to ruin your entire plan, but it’s always worth asking the question Would I do this or that differently next time?”
Business should be built on the idea that failure isn’t a dirty word. It has the potential to make a world of difference when faced with challenges that seem overwhelming or impossible to overcome. There are plenty of examples of businesses that have changed drastically after failing. What is most important is that you give yourself a break and really embrace the experience of growing to make your business better.
