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Dear Entrepreneurs…DO NOT fear FAILURE!

At some point in your life, you may have experienced that shivering moment when…”I have this idea, BUT I don’t know if it will work” or “I want to do this, but I am not good enough because of my past fallouts”…Let me tell you this: Failure is the beginning to your success!

In the journey of an entrepreneur, things are unlikely to always be smooth sailing i.e. an entrepreneur’s life is about having fun and always learning! Instead of looking at our past failures as defeats, rather absorb them as “learning curves” and “experience” obtained to be successful in the future.

As we drive a vehicle, and end up at an unexpected dead-end, our instinct is to make a U-turn and find the next road to our destination. This very principle applies in entrepreneurship – every dead end means a new pathway to future success. Yes, at times it may be painful, but consider the fact you have learnt what bumps and potholes you’ve fallen in on that road, so that on the next road, these will not be repeated. Essentially, you have prepared yourself to do better in your next journey!

So why let the fear of failure demoralise you from achieving your dreams and goals? There are many examples of successful people who have failed in their journeys, two of the most popular being Warren Buffet and Richard Branson – the former rejected by Harvard University and the latter falling out in High School. Now imagine, had these two not pursued their dreams and grinded at it, would they be where they are today?

SO HOW DO WE OVERCOME THIS FEAR OF FAILURE IN ORDER TO PURSUE OUR DREAMS AND GOALS?

Firstly, accept that failure is a part of life. No success happens overnight without hurdles and stumbling blocks. Its these very hurdles and stumbling blocks that gains us the experience to not repeat mistakes for future success. Had it not been for my attempt to start a business, I would not have been able to successfully sell 2 of my 3 businesses I started. And having said that, failing from the one business, meant me understanding what I needed to do to be successful.

Secondly, failing in business is not the equivalent to who you are as a human being (assuming things are done with a clear conscious). I once personally experienced this, where I attempted starting a business, could not get it going and needed to go back into the workplace… to be told by recruitment agencies that I am “behind” in experience to my colleagues. My response – what I have learnt, none of my colleagues have, so don’t judge apples with pears! Had it not been for my perseverance, I would not had been appointed CFO for a multinational at the raw age of 29.

Finally, failures are there because bigger opportunities lie ahead for us. So, do you want to miss those opportunities because you failed previously? I would not think so…

Things happen for a reason in life! Do not internalize failures and let it cripple you from achieving your goals and dreams!

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