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Why You Need to Fail Often … to Succeed More

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Why You Need to Fail Often

If you’ve never failed, you’ve probably never succeeded. Think about that for a moment:

No failure = No success.

It’s not a coincidence that the people we consider “successful” are usually the ones who have failed the most. The fact of the matter is that they’ve probably taken more risks and, as we all know: Bigger risks = Bigger rewards.

Similarly: More attempts = Increased chance of succeeding – learn to succeed more.

succeed more

So, why aren’t we all out there trying repeatedly until we’re successful? Probably because we’re scared. 

Fear is an innate instinct meant to protect us from harm, but too often we let fear dictate our decisions and it inhibits us from succeeding. Maybe we’re afraid of being rejected so we don’t ask someone out on a date. Or maybe we’re scared of looking stupid in front of our peers so we don’t share an idea during a board meeting. Fear of failure is usually the reason we avoid things because, if we don’t try, we can’t fail. BUT, if we don’t try, we also can’t succeed.

Here are some simple steps to help you cultivate success:

Forget Fear.

The economy is growing, unemployment is down, and the stock market and capital are up. This combination equates to a plethora of opportunities, but people and companies alike are still too worried about potential failure despite reasonable probabilities of success.

Instead of fearing failure, try looking at it as an opportunity for success. It’s a simple shift in mindset that can lead to tremendous achievements.

Take More Risks.

We tend to think of the word “risk” as a scandalous or taboo idea. But, risk simply means taking a chance that has an uncertain outcome. Some risks are more of a gamble than others, and those are usually the ones that also have the biggest potential reward. Fortunately, when it comes to business, there are a myriad of big data resources, analysis tools, and management software to help mitigate risk. For example, utilizing analytics to develop various pricing strategies can provide insight that reduces risk.

Forget about failure and think of risk as more of a win-win scenario. Either you succeed or you learn.

Seek Out Innovation.

Companies that prioritize diversity, allow a certain degree of deviant behavior, and encourage change are much more likely to experience success. Sticking to the same old way of doing things usually produces the same old results. Switching things up and testing out new strategies can lead to exciting advancements.

Empower Employees.

Giving your staff and management teams the freedom to make decisions and take (reasonable) risks can result in improved productivity. When you hire and train talented and trustworthy people, you can rest assured that they will do their jobs to the best of their ability and, ideally, add value to your business. When employees feel trusted and are given the autonomy to take chances, they’re more likely to think outside the box and offer alternative solutions. This authority in decision-making also means that employees will make mistakes at times and it’s important to remember, once again, that without failure, there is no success.

Be Open to Opportunities.

Failure means reassessing. Sometimes that requires some minor tweaks and another attempt. Other times, it means abandoning your idea and starting fresh. Not all ideas are good ones and there may come a time when your analysis indicates that it’s time to move on. And that’s okay. It’s all part of the learning process.

Strategies get old and exploring new opportunities may help you capitalize on strengths.

Don’t Mislabel Failure.

It’s not failure if you’re always setting goals, assessing, and adapting. Few sports teams, sales calls, or competitions achieve more than a 50 percent success rate. Rather than dwell on and sulk over losses, analyze your mistakes and research how to improve. Additionally, cultivate a business culture that values feedback, encourages communication, and supports collaboration. Open and honest communication on all levels is the only way to move past mistakes in a productive manner.

Look Beyond Your Circle.

It’s imperative to have external resources for obtaining information and receiving feedback. You need people who will tell you the truth without sugarcoating it. Make sure you have a reliable network that understands your business needs. There are numerous networking opportunities available, which can be found using Google or a local library.

Once we accept that success isn’t built on the failure of others and understand that failure itself isn’t something to be feared, we open ourselves to a multitude of opportunities. Remember to always consider alternative perspectives, encourage innovation, and accept the inevitability of mistakes. For, without failure, there is no success. Learn to succeed more.

Related: Incorporate Operations and Make Better Decisions

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