How an entrepreneur should look at failure

Failure is a key to success. We give you keys to use your failure to meet success. In Startup Oasis we help you fulfill your dreams and we give you advice to get over your fear of failure.

Failure has been seen for a long time as something bad. When someone failed everyone thought it was the end of the adventure. But things have changed, especially with entrepreneurs who talked about how many times they failed before becoming successful. Today, when you talk about your failures it means that you try to achieve something. The bigger the failures are, the bigger your dreams are.

What is failure?

Thanks to the entrepreneurial environment and the testimonial of famous entrepreneurs, failure is related to success. As Winston Churchill said, “Success is not final, failure is not fatal: it is the courage to continue that counts.” Life is an adventure, you will know of success and a part of that is failure; it’s all part of the game.
So, what does this big word really means, especially to entrepreneurs who are defined by way of success or failure of their product?
Oxford dictionary defines it as, “The neglect or omission of expected or required action.” That target or goal that you missed out or that something just didn’t work out the way you expected it to. This happens to EVERYONE, in all walks of life. The difference is how you look at it and what you make of it.
These are some ways of looking at failures that will make it a positive force in your project/business.

Failure is not humbling

Human being has a tendency to get caught up in what they do and get lost in their success. Failure in this way helps a person keep himself/herself in check. Makes them look at themselves deeply and make personal assessment, and eventually makes for a stronger person. This is a key to personal growth in business.

Failure is force of change

Imagine if everything goes well with a project or a business? You are very confident so you don’t look at the changes in your market. Will you change and improve to meet to expectations? The answer would be no. Why change when everything is going perfectly, right? The thing is, it will not go on forever. People will want change, will DEMAND it even. Some entrepreneurs can foresee trends and be able to change in time to accommodate the trends. For entrepreneurs who cannot, failure is a sign that a change needs to happen. They will have to learn from their mistakes and make changes to meet the expectations of customers.

Failure can be an epiphany

There have been a lot of success stories that started when the entrepreneur had a light bulb go off in their heads during what seems like a failed moment. Failure can make you see that something is wrong with how you are doing things or that you need to make a drastic change. Welcome this failure and learn from it. The greatest strength is to fail and continue to pursue your dreams again and again.

Failure is an opportunity

If your product is not meeting people’s expectation, they will surely let you know about it or the decline in use/purchase will let you know about it. When this happens, it should be seen as an opportunity for growth. Their complaints will let you know what is wrong with your product and how you can change it to make them happy and will keep them using your product.

Thomas Edison made a great statement about failure when he was asked, “How did it feel to fail 1,000 times?” This is regarding his invention of the light bulb which reportedly took him 1,000 trials to perfect. He replied, “The light bulb was an invention with 1,000 steps.” You should always learn from your failure. It is the path to success and happiness.

Come at Startup Oasis and develop your project with our designers and developers. We will give you advices on how avoid failure and how to use a failure to become successful.