Why Business Failure is Vital to Success

by / ⠀Startup Advice / February 9, 2011

business failure

The perception of a business failure

A business failure is a negative and depressing event, one without any value, something that most entrepreneurs would soon want to forget and wished never happened.  The results of a failed business will include a great deal of stress in many areas of one’s life; personal, professional and financial.  After sacrificing so much of your time and energy trying to turn your vision into a reality only to see it fall apart is certainly devastating.  Having to face and cope with something like that would make one feel like crawling into a hole and taking the hole with them.  Hard to imagine the misery and darkness one suffers from that kind a failure, why would anyone put themselves through something like that?

The Flipside

A failed business venture is part of a journey, and the path to success.  Without the experience and knowledge gained thru this undertaking you would be less likely to find success in the future.  The fact that you attempted to fulfill your dream is commendable, regardless of the outcome.  So many are afraid to take the risk and go after their dreams.  If you are passionate enough about your pursuits your recent failure should only be a small stumbling point in realizing your goals.  Because you tried and failed you are now armed with a wealth of real world experience, that alone is invaluable, something that you could not have learned unless you actually tried.  The education you gained from your past experiences should make you confident and excited about future prospects for success.

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The Choice is Yours

The above are both very different ways of viewing a failed business experience. The bottom line is they are both conscious choices you must make.  When you choose to change how you perceive your experience you will be aligned in a whole new way.  Shifting into a mindset of positive learning is a powerful tool. When you change your way of looking at these experiences you are in a state of mind that allows new opportunities and possibilities to be revealed to you. Seeing your failure as a lesson for growth and learning is a great step in this direction.  This may be a new concept to many who have been conditioned by our society with the belief that failure, in particular a failed business venture is inherently a negative experience without value. When in reality that point of view is a choice.

Failing is succeeding

Failing is a tough pill to swallow and no one wants to give up, but seeing the positive side of one’s circumstances positions them for greater chances to find success in the future.  Perseverance, intestinal fortitude and positivity all comes from your attitude and perspective.  If you are defeated and negative after a failure, how is that going to help you today or tomorrow?  As an entrepreneur or even as a human being you would be done before you even began if your mental state and personal perspective was one of negativity and a general defeated attitude. Choosing to see a failed business venture as an opportunity for growth and as a valuable learning tool only increases your likelihood for future prospects.

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I see failure simply as a form of success, so much so in fact that I would go as far as to say it is the foundation of success. Learning from success is important, but learning from failure is vital to succeeding.  Adopting this type of mindset is a powerful tool for an entrepreneur.  If you see all your attempts as part of the road to succeeding and even a vital necessity, then are they even failures at all?  The answer is they are only failures if you ultimately threw in the towel as an entrepreneur and even more so if you denied yourself the opportunity to learn from those experiences.

Let There Be Light

The act of sharing your experience and letting go of the negative baggage you carry can be very freeing and therapeutic. In what seems like your greatest failure you can gain such clarity and insight. A great way of looking at your failure is with the realization that it had to happen. The turning point can be what you choose to do with that experience. You can use it to lift the veil we have been conditioned to wear and light up the darkness of failure.

Failure offers countless opportunities to learn and grow. It all starts with a change in perception. You can change your way of viewing these experiences from feeling sorry for yourself to one of gratitude and positivity.  You are in good company; most entrepreneurs had to go thru failure before finding success. You can move forward with confidence knowing that your failure is no failure at all. It is part of your journey in finding success.

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My belief in learning and growing from a failed business venture has led me to create a place where entrepreneurs can share their experiences. Diedonthevine.com is a resource to explore the invaluable benefits of failure and to help the entrepreneurial community to evolve and step into the light.

Jason Platnick is the co-creator of DiedOnTheVine.com a website committed to helping entrepreneurs align their ambitions with others experience. The site is breaking new ground in the area of entrepreneurship, and challenging society’s perceptions of business failure. As it grows it will undoubtedly become an invaluable resource for the aspiring entrepreneur.

About The Author

Matt Wilson

Matt Wilson is Co-Founder of Under30Experiences, a travel company for young people ages 21-35. He is the original Co-founder of Under30CEO (Acquired 2016). Matt is the Host of the Live Different Podcast and has 50+ Five Star iTunes Ratings on Health, Fitness, Business and Travel. He brings a unique, uncensored approach to his interviews and writing. His work is published on Under30CEO.com, Forbes, Inc. Magazine, Huffington Post, Reuters, and many others. Matt hosts yoga and fitness retreats in his free time and buys all his food from an organic farm in the jungle of Costa Rica where he lives. He is a shareholder of the Green Bay Packers.


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