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3 Powerful Reasons Why I Love to Fail (and Why You Should Too)

3 Powerful Reasons Why I Love to Fail (and Why You Should Too)

You know the feeling. The feeling you get when you fail miserably at something. That gut-sinking, desperate, I’m an idiot, and I’ll-never-amount-to-anything feeling. It’s awful, isn’t it?

In fact, some days it’s so awful that you don’t even want to get out of bed. The shame, embarrassment, and fear are harsh reminders that maybe you don’t have what it takes to succeed. Sometimes you even wonder if you should give up on your goals and dreams altogether. But you shouldn’t. And here’s why.

You can achieve the success you’ve always dreamed of by mastering one fundamental skill.

Failure: Study It, Understand It, Learn From It

Why is failure considered so bad? We seem to have a problem with failure. In the sense that failure is seen as the thing that must NOT happen at any cost. Too many people don’t want to focus on failure because it is often equated to weakness.

However, the truth is – failure happens to everyone. It happens in different areas of life and is not contained to high-stakes testing.

Some failures are bigger than others. Some are more public than others. Some are more humiliating than others. And some have a greater stigma around them. But failure does not need to set you back. It can catapult you into the future you’ve always wanted.

In fact, the only thing that separates people who succeed from those who don’t is a proper understanding of the power of failure. Successful people will tell you failure, is not only good, it’s also necessary.

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Failure might be a good teacher, but it’s also a cryptic one. Figuring out it’s lessons is no easy task. To be able to learn from failure, you need a way to decode the teachable moments “hidden” within them.

Here’s how to decode the valuable lessons of failure…

1. Study It

Start by analyzing your failures. Failure can constitute feedback regarding what you’re doing wrong, which permits you to adjust your actions until you do things right. But, many of us aren’t willing to look at our own mistakes. It makes us feel bad. However, in order to get a deep learning experience from failure we need to study them attentively, without falling to the other extreme and obsessing over them.

Study the facts. The fact is that there was a failure: you didn’t get the job, you didn’t make the sale, the relationship didn’t work out, and so on. Those are facts. That’s how you study failure. Anything beyond that is an interpretation, a meaning you’re giving to the situation.

2. Understand It

Failure is an opportunity, not a burden. It’s NOT the opposite of success. Failure is a bridge to success. It’s an initiation rite, the necessary steps you must take no matter how hard, no matter how tenuous.

Failure is NOT about making mistakes. Mistakes are inevitable and part of the journey. Mistakes are lessons. They’re stepping stones. They’re guideposts. If you don’t make mistakes you will not achieve anything. On the other hand, REAL failure is when you walk away from an opportunity. When you give up on your dreams to do something more “practical.” Failure is when you take the “sad sap” route, throw yourself a “pity party” and focus on thoughts about why you’re not good enough.

If you change the way you view failure and understand it for the life-changing experience it is, you can begin to take advantage of all the benefits that come along with it.

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3. Learn From It

Failure offers great learning lessons if you choose to approach it with a positive attitude. You can only receive what failure has to teach if you’re willing to fully embrace the failure itself. There’s no other way of learning other than by making mistakes. Failure teaches you that success rarely comes in the form of a “big break.” More often than not, it comes after months, even years of hard work.

Failure teaches you to try many avenues before giving up on reaching a goal because there’s usually more than one way to get there.

Failure can teach you where you went wrong in the first place and how you can pick yourself up again in a pursuit to succeed.

Failure can teach you that you’re not bad at something, just that you have to try a different method to find success.

Failure can reveal critical errors in your thinking, approach or game-plan and force you to make necessary adjustments. It may close one door, but will open another that’s better suited for your success.

There are always a million reasons to quit. But one reason to go on. You’ll have a happier more fulfilled life if you try your best to study, understand and learn from failure. Great. So now that we’re clear on that, why should you love to fail?

Here’s why…

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3 Powerful Reasons Why You Should Love to Fail

Success takes willpower, intelligence, determination and grit. But above all else, success requires failure.

Failure is the blacksmith’s hammer that tempers the sword of success.

Reason #1: Failure Means You’re Trying

Success is a moment. It’s fleeting, you work so hard for it but you will rarely savor it. But what really matters, isn’t success, it’s trying. Success is in the reaching, not the arriving. It’s constantly trying to close the gap between where you are and where you want to be.

If you haven’t failed yet, chances are you aren’t trying very hard.

When you stop trying, you allow opportunity to pass you by. But when you try, you push yourself to dream, to do better, to look beyond the present and ultimately embrace the moment you are blessed to live in. So keep trying. Keep pushing. Keep believing in dreams that others don’t think are possible.

Reason #2: Failure Builds Character

Character in life is what makes people believe in you and is essential for individual success. It’s the most important trait you can have and takes a lifetime to build but can be lost in an instant.

A person with good character finds acceptance wherever he goes and is respected by all. In addition, character can help you develop a pleasant personality.

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Nothing is more important for true success in life. Life is nothing without it.

Failure helps you build character because it sheds light to who you currently are. Failure can show you if you give up, complain or blame others. This can help you make adjustments in your character so that you become successful.

Reason #3: Failure Helps You Overcome Fear

Fear is a useless emotion. It does nothing but cause negative effects. The feeling of fear is not productive, nor is it a necessary or important part of achieving success. Fear limits your full potential. It’s pervasive. And if you let it, fear can haunt everything you do.

Fear does not contribute to life, but rather it takes away so much from life. It takes away chances, experiences, choices, dreams, hopes, love, friendships, connections, possibilities… Fear is an anchor that must be cast off in order to live your life in the most honest, real and successful way possible.

As you begin to fail more and more, you start fearing less and less. And when fear drops low enough, you’ll reach a point where it’s no longer preventing you from taking action.

Failure is the Beginning of Success

Ninety percent of times, fear of failure is entirely internal. It really is. It’s you second-guessing yourself on something that you know you can do. Why do you know you can do it? Because you conceived the idea. It wouldn’t be possible if you couldn’t think of it. Let’s face it, if you want to accomplish something in life, even something huge, the answer to do that is already out there.

So, how could you fear failing, when failing is so important to success?

It doesn’t matter if you tried and failed a dozen times. Those failures just told you what doesn’t work. The difference lies in your response to failure. Most will give up. Most will cave in. Most won’t stick it out. But you do. And that is the difference. Success is what comes after you have survived all your failures. You have to fight through the bad days so you can earn the best days of your life. Success is what happens when you stick it out! Grind it out! And that is why I love to fail.

How about you? Do you love to fail?

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Last Updated on October 18, 2018

10 Key Characteristics of a Highly Successful Entrepreneur

10 Key Characteristics of a Highly Successful Entrepreneur

When it comes to starting your own business and pursuing your dream of becoming an entrepreneur, it can be advantageous to go all in and embrace the flexibility of finally quitting your day job.

Keep in mind, though, that it takes a special kind of person to take the business world by storm: a person who has cultivated the key characteristics of entrepreneurial success.

People with these characteristics are likely to succeed, whereas people without them have difficulty moving forward with even the most brilliant business ideas.

These characteristics of an entrepreneur are so important that I’ve decided to cover all 10 of them in detail so that you can start your business with your best foot forward.

1. Successful Entrepreneurs Practice Discipline

Plenty of business experts claim that you can’t get anywhere as an entrepreneur without vision or creativity, but that’s simply not the truth. Instead, the one quality that no entrepreneur can be successful without is discipline.

To build an idea into a business, you have to have the discipline to spend time slogging through the least fun parts of running a business (like the bookkeeping), rather than taking that time to do something fun.

Andrew Carnegie, one of the most financially successful Americans of all time, grew up working dull and difficult jobs in factories. Despite going to bed hungry some nights, he continued doing his best work. He was eventually hired by a railroad company and continued to move up the ladder until starting his own successful businesses. Carnegie is a fine example of an entrepreneur dedicated to discipline and hard work. He truly earned his dreams of prosperity and success.

When you’re the boss, there’s no one to keep you at work except yourself — and there’s no short-term consequences for skipping out early.

Sure, if an entrepreneur plays hooky enough he knows that the business just won’t happen, but it’s very hard to convince someone that ‘just this once’ won’t hurt (and to keep ‘just this once’ from becoming a daily occurrence).

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2. Successful Entrepreneurs Keep Calm

Things go wrong when you run your own business.

Most entrepreneurs go through crises with their businesses — and more than a few wind up with outright failures on their hands. But when you’re responsible for a business, you have to be able to keep calm in any situation. Any other reaction — whether you lose your temper or get flustered — compounds the problem.

Instead, a good entrepreneur must have the ability to keep his cool in an emergency or crisis. It may not make the problem easier to solve, but it certainly won’t make it harder.

Honestly, losing your calm is a quick path to becoming the kind of person who gives up in the face of adversity. Instead giving in to frustration, remember classic entrepreneur Benjamin Franklin.

Franklin kept his calm as he experimented and tweaked his inventions again and again in pursuit of success. He didn’t give up during his many failures – he chose to innovate. You can choose innovation, too.

If an entrepreneur can handle failure without frustration or anger, s/he can move past it to find success.

3. Successful Entrepreneurs Pay Attention to Details

Restricting your attention to the big picture can be even more problematic than ‘sweating the small stuff.’

As an entrepreneur, unless venture capital has magically dropped out of the sky, a small expense can be a killer. It’s attention to detail that can make a small business successful when it has competition and it’s attention to detail that can keep costs down.

Attention to detail can be difficult to maintain — going over ledgers can be tedious even when you aren’t trying to pay close attention — but keeping your eye on a long-term vision is just asking for a problem to sneak in under a radar.

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After a business grows, an entrepreneur might be able to hire someone to worry about the details. In the beginning, though, only one person can take responsibility for the details.

Skeptical about the importance of details? Look no further than Howard Schultz, who grew a small coffee shop called Starbucks into one of the most globally successful coffee businesses in the world through his extreme attention to detail.

He is famous for taking all aspects of growing a business into account, paying attention not only to financially smart business decisions, but also focusing on socially responsible business decisions. Details can take you far.

4. Successful Entrepreneurs Embrace Risks

No entrepreneur has a sure thing, no matter how much money s/he stands to earn on a given product. Even if a product tests well, the market can change, the warehouse can burn down and a whole slew of other misfortune can befall a small business.

It’s absolutely risky to run a business of your own and while you can get some insurance, it’s not like most investment options. Even worse, if something does go wrong, it’s the entrepreneur’s responsibility — no matter the actual cause. In order to deal with all of that without developing an ulcer, you have to have a good tolerance for risk.

You don’t need to channel your inner frat boy and take on absolutely stupid risks, but you need to know just how much you can afford to risk — and get a good idea of how likely you are to lose it. If the numbers make you uncomfortable, the risk is too great.

Embracing risks is essential for growth and additional success, as well. Walt Disney, for example, could have stayed comfortable with his advances in the film and animation industries, but decided to expand his brand with a new dream: a theme park that soared above the competition. Without taking this risk, the incredibly successful Disney theme park empire would never have come about.

An entrepreneur has to be willing to accept pretty big risks, with some level of comfort.

5. Successful Entrepreneurs are Balanced

You can take any characteristic too far. There’s a point at which attention to detail can become obsession or calm can become unemotional response.

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As an entrepreneur, you have to be able to balance your characteristics, getting the most of them without going over the edge. But balance for an entrepreneur goes far beyond keeping your characteristics in check, though.

Just as an entrepreneur doesn’t have a boss to keep them at work when necessary, they don’t have one to send them home when they’re done. If you are working for yourself, you have to decide how to balance your work and home life — and if you have a day job to add into the equation, balance just gets more complicated.

Oprah Winfrey, one of the most successful and influential entrepreneurs out there, understands the importance of balance. Winfrey has a lot going on; she runs her own media kingdom, acts, produces films, publishes print, and more. In an interview with Fast Company,[1] she talks about her efforts to balance priorities and self care, saying that she must ask herself what is truly important in each limited day.

You may or may not have as much on your plate as Oprah, but learning how to balance whatever you have going on in life will certainly help you farther along down the road as you learn to be a great entrepreneur.

6. Successful Entrepreneurs are Passionate and Motivated

In order to develop any of the above characteristics, you must have a foundation of passion. Staying disciplined day after day during the building of your business takes unrivaled motivation.

Before you start any business, ask yourself if you can sustain true excitement about your idea during even the darkest days ahead of you. If the answer is yes, then good for you! Nurture your natural motivation by taking these action steps throughout your business journey:

  • Commit to making short and long-term goals. Check in with them often to stay on task.
  • Have a plan in place for the inevitable days when you feel discouraged. Make a list of things that will help keep you motivated and focused.
  • Share your ideas with trusted individuals who are just as excited as you are. They will help keep your enthusiasm rolling even when you are feeling down.

By being prepared for apathetic days and holding fast to your authentic passion, you can actually enjoy your journey to success.

7. Successful Entrepreneurs Adapt

Remember this one word: flexibility. Seasoned entrepreneurs know that change is not only a part of life, but also a part of the business world. Expect change and choose to adapt.

As a new entrepreneur, it will be tempting to cling to your original business plan with no exceptions, even if you notice it isn’t working. Good entrepreneurs know that it’s okay to make smart, informed changes in order to ensure efficiency.

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8. Successful Entrepreneurs are Marketing and Sales Experts

No matter what kind of business you are starting, a knowledge of marketing and sales will save you many headaches. A passion for creating a beautiful handmade lifestyle product is not enough to run a successful lifestyle brand; it is critical that you understand key business principles in addition to your natural skills or great product line.

Not sure how to start? Taking business courses is a great idea, but you can also easily brush up on sales and marketing through free online resources. Check out these 10 Sales Skills Everyone Should Master To Be Successful to begin now.

9. Successful Entrepreneurs Have Strong Money Management

Along with sales and marketing skills, money management is a very useful tool in the box of the entrepreneur. Understanding how to best manage your money can be the difference between early success and early failure in the business world.

If money management isn’t your strongest skill, prepare to hire a financial expert to help you with any tricky business that comes up. Financial guidance and knowledge is never a bad idea.

10. Successful Entrepreneurs Ask Questions and Continually Improve

Pride is a natural human quality, but it’s important to humbly conduct some constructive criticism every now and again on both yourself as a leader and your new business as a whole.

Assess how things are going and be willing to make positive changes if necessary. Here’re 15 ways to cultivate lifelong learning.

If you are always improving, then how can you ultimately fail?

The Bottom Line

Let me remind you of one important fact: the qualities of an entrepreneur listed here are not exclusively available to some people and elusive to others.

Although some people may have natural strengths and weaknesses, these qualities can be learned by anyone interested in taking up the entrepreneurial challenge. It might not be easy to change old habits, but it is absolutely possible to cultivate these characteristics in yourself.

Whether you’re a business owner or an aspiring entrepreneur, with hard work, you can train yourself to develop the qualities that truly determine the entrepreneurial spirit and future success.

Featured photo credit: Unsplash via unsplash.com

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