Fail, Learn, Do Better

29iht-melikian29-pica-articlelargeNow, blogs, books and other media reveal that the idea of failure has been embraced by entrepreneurs. In fact, some investors won’t consider your idea if you’ve not failed at something. Failure is now a badge of honor that entrepreneurs proudly display.

But what’s the point?

Has failing suddenly become fun? Do you have to fail in order to succeed? Does failure serve any real purpose? Really, what’s the point?

I’ll tell you right now (for free): failure is no fun. As an entrepreneur, I hate to fail; it’s never the goal. Winning is the preferred option – always! However, the new attitude towards failure helps the entrepreneur and this is why.

Failure is now a tool for learning. These days, little time is spent crying over spilt milk. When failure occurs, effective entrepreneurs switch to exploration (or study) mode. Yes, they feel bad, but learning begins almost immediately.

The entrepreneur engages the learning process with one purpose in mind: TO DO BETTER. Failure has no other use.

The proof that you’ve learned from your failure is better performance. Until then, you’re yet to figure out why you failed – and in that case, keep learning.

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