5 Reasons You Need Failure as an Entrepreneur

Most of us have a predisposed bias towards failure. We see it as a sign of weakness or defeat, and give no real value to the lessons we learn by failing. The truth is, you’re going to have failures throughout this new entrepreneurial journey. We’re here to tell you that falling on your face from time to time is actually a great thing personally and professionally — and here’s why.


Let’s take a look at 5 reasons failure can jump-start your career success:


1. When you fail, you learn.

“Failure should be our teacher, not our undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end. Failure is something we can avoid only by saying nothing, doing nothing, and being nothing.” – Denis Waitley

Contrary to popular belief, failure is one of the most important elements to breeding success for the long-term. When we fail, we figure out what worked and what didn’t, and can utilize that data to capitalize on our goals and efforts moving forward.


2. You figure out what is missing.

“Mistakes are the portals of discovery.” – James Joyce

Failing put simply, is the result of a missing component. When you fail, you realize what it is about your strategies and processes that aren’t quite lining up, and are able to adjust and improve as necessary. Being able to look at your failures holistically and pinpoint exactly what you came up short on, will be a vital piece to your overall success.


3. Big failures breed big success.

“It’s not how far you fall, but how high you bounce that counts.” – Zig Ziglar

The best entrepreneurs know that you can’t expect big results without big risks. Have an idea that you think could be great, but are too scared to actually implement it? It’s time to go for it. Some of the best ideas are never utilized because they fail to come to fruition. 


4. Failing makes you fearless.

“I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. Twenty-six times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.” 

– Michael Jordan

Being scared of failure can completely hinder your performance as an entrepreneur, and jeopardize the longevity of your particular business. It is important that you not only fail, but fail often, so that you no longer have that fear of taking professional risks with uncertainty. Having a fear of failure will not only limit you, but your companies growth as well. 


5. Failure makes success that much sweeter.

“Most great people have attained their greatest success just one step beyond their greatest failure.” – Napoleon Hill

Success becomes an incredible feeling when you recall the humiliating mistakes you made along the way. You will not only be happy that your efforts paid off, but that you took the risks necessary to get you there. Achievement will hold a lot more value when you look at all of the mistakes it took to meet your goals. 


Are you ready to turn risk into reward? Ever thought about what it could be like to be your own boss? Perhaps it’s time for a free consultation with a qualified and experienced franchise consultantFranNet has a great track record of assisting individuals on their path to business ownership. Make arrangements to speak with one of our representatives today!

Aug 4, 2016