Failure: The key to success
Most new entrepreneurs are afraid of failure. They have grown up with the fear of societies’ taboos such as “What will people say if I fail?” “How will investors trust me because I failed?” “What my clients will think of me as a failed partner?”. But these taboos are just a myth of old school cultural mindset.
In nowadays investors think of failures as a key to success. “…managing insolvency and failure is also a mean to strengthen competitiveness and growth, making it possible to stimulate the market in reshuffling skills and resources into new activities” (“Entrepreneurship and failure: two sides of the same coin?” Johan Eklund & Nadine Levratto & Giovanni B. Ramello, 2018)
“Ever tried. Ever failed. No matter. Try again. Fail again. Fail better.” Samuel Beckett’s words in Worstward Ho, published in 1983.
Think of failure as a lesson to be better the next time. Usually entrepreneurs fail in sections of financial management, lack of knowledge about consumers’ true needs and how to implement successful sales.