If you start a business you need to be prepared to fail. No business has a perfect track record, though some are worse than others. What really makes a difference is what you learn from the mistakes you make. If you don’t learn you’re doomed to repeat that failure over and over again. Here are a few ways to get the most out of, and recover from, your epic fails.
The first step in failing successfully is to fail quickly.
The last thing you want to do is let a mistake take up more of your time and resources than it has to. Think of your fails as a learning experience and use them as a process for research and development. Try something out with a small sample group and if it doesn’t stick, move on! Keep trying until you find something that works.
“People never fail at anything–they just give up.” – Harvey Mackay
The next step is to empower and encourage your team to fail.
Most people fear failure but if you’re encourage your team to embrace failure as a result of trying new ideas, you will experience more good failures than bad. Empower your team to try out new ideas, this empowers them to drive the growth of your company. Make sure they know that failure is acceptable… as long as they learn something from it.
Identify your strengths and your weaknesses.
Succeeding all the time can lead to mediocrity. A good old fashioned fail can teach you what you’re good at and what you’re not. It also gives you insight as to what your customers really want. Make sure that every time you fail you learn something about what you’re good at and how to use it as well as what you’re not good at and how to avoid it.