Failure can bring you the most rewarding opportunities and teach you to become a better business manager or an entrepreneur. From each experience, you learn something new about yourself, people, business and leadership. Failure is the most potent source of practical knowledge and giving you understanding, as you learn about survival, and reinvention of yourself and the organisation you manage.
You can learn based on other’s failures. When you want to know more about a person’s character, simply ask, “What have been your biggest failures, and how did you overcome them”? If they can’t quickly think of at least three or four of their failures, they are lying, haven’t stretched themselves enough, or they will be highly risk-averse.
Agility is a word you should never forget.
The significant advantage you probably have going forward is that you are small enough to be agile. Agile enough to avoid the disruptive and destructive forces in play that can cause failures and to solve the problems as they arise quickly. It is easy to adapt to circumstances and issues when you act early, decisively and rapidly. Of course, it would help if you were ready to make more changes as situations unfold. The status quo is rarely a good strategy.
It would help if you did everything in your power to become financially savvy to improve your agility. Sure, you might have a good accountant or a good finance broker, but you need to understand the ins and outs of money as it affects your organisation.
In my experience, perhaps the biggest roadblock to the future you are looking for occurs when you are too busy worrying about what can go wrong rather than focusing on your passion and your strengths. Great opportunities can often be masquerading as problems.
What can you do to take you from a disaster to profitable growth and profitability? One of the biggest lessons that you can learn from your failures is how important your values are. Your values lie at the heart of success.
There are many ways to recover from failure. Once you understand that a loss can serve you rather than hinder you, as you positively look at your life’s journey. You will become more action-orientated, and procrastination will never again be a roadblock.
“I honestly believe I have felt your feelings. I’ve walked in your shoes. You have made some mistakes, and you may not be where you want to be, but that has nothing to do with your future”. Zig Ziglar
“People achieve because of their struggles. If you analyse your mistakes and failures and seek advice to overcome the obstacles along the way, you too will become a winner”. Peter Sergeant