Turning Devastation into Opportunities

Let’s face it. No one likes the feeling of failure. It feels terrible to know that you failed in something you invested your time and energy into. However, failure is inevitable; what matters is what you do after failing. Do you give up? Do you go on? For many, it is the easier option to give up when things don’t work out, but the thing is, you’re going to fail—a lot. The thing is, failure is necessary for success. Great entrepreneurs can turn their failures into the most significant opportunities of their lives, and here’s how:

Great entrepreneurs are motivated by failures

Did you know that before becoming the CEO of Apple, Steve Jobs was fired first? At that time, the CEO didn’t see Jobs in Apple’s plans. His dismissal from Apple (which he co-founded!) made his drive stronger than his failure, so he founded NeXT, a company that developed computer workstations and funded Pixar, which helped the studio grow. He used his time away from Apple for his growth, and we can see how much he made Apple into what it is today.

In 2005, Jobs said, “I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me.” 

Failure teaches leaders how to be better.

Failure fosters humility – an essential trait for a founder to succeed! It shows us that we do not know everything but can still learn (or even relearn) and must be resilient to create a positive change! It forces us out of our comfort zones, allowing us to be more courageous than we usually tend to be. 

Great entrepreneurs reflect and relearn.

Franklin D. Roosevelt once said, “A smooth sea never made a skilled sailor.” Failure allows you to look back, restrategize, and redirect. You will be able to reflect on what worked and what didn’t.

This is what happened to Bill Gates! His first company with Paul Allen, Traf-o-Data, failed. Its total net losses are $3,494 between 1974 and 1980. They didn’t regret this failure as Traf-o-Data allowed them to understand the microprocessors vital for their next project, Microsoft!
To be a great entrepreneur, you must allow failure to shape you to be better. It shouldn’t demotivate you! Embracing failure allows us to bounce back and be stronger each time. It isn’t easy to embrace your mistakes, but it will be worth it in the end because true success can never come without failure, so start now!

“Failure is success in progress.” ~ Albert Einstein

If you need help turning your failure to success, we have programs that can help you! Check them out here!