Entrepreneurs mistakes and failures

Face it, not all good ideas even with perseverance are going to work. In recent years the culture around entrepreneurship has become failure-friendly. Face it, the old adage is if you aren’t failing once in a while, you aren’t trying. Entrepreneurs in the technology fields jump from one failed attempt to the next because they know one of these will be the big one. A famously known billionaire entrepreneur often talks about his failures as much as his successes.
What does a true entrepreneur do with failure?
Announce your failures to the world. Be proud that you had the guts to go out and try something rather than sinking in the morose of “quiet desperation”. By being open and vulnerable a failed attempt is a set up for learning from others. Some noted entrepreneurs host lunches, dinners or walks with their associates. Here they can discuss, commune and solve problems.
Use the failed attempt as a stepping stone to the next success. Don’t repeat the mistakes but learn from them. These ups and downs help to grow individual toughness and critical conviction. Take any successful millionaire and you will find out they didn’t hit it right the first time. Typically the bigger the successes the more they have failed. Now they know how many ways “not to do something”.
Renaming the failure should change one’s perspective on it immediately. All high level positions within any company require experience. Experience can be substituted for the word failure and it is true. Now you have more experience. Put a positive spin on it and add credibility as more accomplished business person to your list of attributes.
Entrepreneurs by their very nature are wired to win. But knowing that all failures can lead to the next success keeps the fuels burning.

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