Failure is an unwelcome guest in the world of business, yet it’s impossible to avoid. Embracing the concept of failing forward turns the setbacks we encounter into springboards for success. Here’s how to turn a seemingly ugly misstep into your greatest comeback.
1. Start by Rebranding Failure as Feedback
“Failure is simply the opportunity to begin again, this time more intelligently.” – Henry Ford
The term ‘failure’ carries a weight that can crush a budding entrepreneurs spirits and curb the most well laid out plans. This is why it’s super important to reframe how you think about failure by treating it as feedback. Instead of something being a ‘failure’, think of it as a data point, a simple result, or an outcome that provides invaluable insight. Whenever a strategy doesn’t yield the results you hoped for, use it as an opportunity to dissect it and understand why.
This newfound knowledge will become the cornerstone of smarter and potentially more successful way of doing it the next time.
2. Cultivate Resilience with a Growth Mindset
“Success is not final, failure is not fatal: It is the courage to continue that counts.” – Winston S. Churchill
Cultivating resilience is about being willing to grow and adapt. When faced with failure, try approaching the setback with a growth mindset. You can achieve this by asking yourself, “What can I learn from this?”… instead of “Why did this happen to me?”
A growth mindset sees the opportunity for development in every hurdle.
3. Small Steps Lead to Giant Leaps
“A stumble may prevent a fall.” – English Proverb
Progress often starts with a minor victory. Before taking a small, well-considered step forward, reflect on the misstep and identify a small, actionable task you can accomplish. After all, sometimes the best response to failure is to take action on a bite sized achievable goal that sets you back on the path to your larger ambitions.
4. Embrace the Pivot
“Failure is not the opposite of success; it’s part of success.” – Arianna Huffington
Business history is filled with stories of success stemming from a pivot or a strategic change in direction after recognizing that an initial approach toward a goal was not working. Whether it’s a change in your business model, a new target market, or a product tweak, be prepared to pivot based on the lessons you learned from previous attempts. Each pivot will be a step in the growth and evolution of your business.
5. Forge Ahead with Perseverance
“Our greatest glory is not in never failing, but in rising every time we fall.” – Confucius
Perseverance is developed in the furnace of failure. With each setback testing your resolve.
Each time you fail to reach your target or goal you will be faced with the choice whether to fold or forge ahead with greater determination. If you choose to forge ahead in your entrepreneurial journey, you will be continually met with this decision. With time and practice, your ability to bounce back, will strengthen, enough to weather future challenges with confidence.
6. Setbacks as Innovation Triggers
“Failure is the foundation of innovation.” – Sarah Lewis
Most of the world’s breakthrough innovations were born from the ashes of failure. This is because setbacks forces you to look at problems differently, to explore and try new angles, and to challenge existing constraints. By doing so, new avenues for innovation are sure to be discovered.
7. Patience: Your Silent Partner in Progress
“Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish.” – John Quincy Adams
Finally, remember to be patient with yourself and your progress. Allow yourself the grace to move through the stages of learning from failure at a pace that ensures the lessons are not just heard but understood and integrated.
Failing forward is an art that infuses resilience into the entrepreneurial spirit. It’s about rolling with the punches and emerging with new insights and unshakable resolve. Turning setbacks into comebacks is about revolutionizing your approach to business and life. So the next time you stumble, make it part of the dance. Fail… NOT with a sense of finality, but forward, with a sense of opportunity.