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It seems like we have two options in life: succeed or fail. Get what you worked for and you're a success. Fall short of that, and you're a failure.
Table of contents
- How To Use Failure To Your Advantage
- Pick of The Week
- 7 Ways to Overcome Failure and Use it to Your Advantage
- Eight Ways Smart People Use Failure to Their Advantage | First Republic Bank
We cannot achieve anything if we do not believe in ourselves or our efforts. But this belief needs to be grounded in a realistic awareness of what we can achieve. If we do not believe wholeheartedly in our efforts we have doomed them to failure from the outset.
How To Use Failure To Your Advantage
Preparation is everything, and the best way we can do this is to plan in detail the steps we intend to take. Planning gives us a roadmap and allows us to re-trace our steps and find a new route sooner. Understanding our plan, allows us to realistically estimate the work that is involved and assess the efforts and resources needed to help us to deliver the result.
This is a great skill for any business owner and if you find difficulty in getting down into the detail, find a partner who can, so that at least one person understands exactly what is needed and by when. Spending time on the detail will always pay dividends. As a business owner, you need to be able to see challenges as just another blip on your journey, rather than proof that life is against you. Avoiding drama when crisis hits allows you to stay clear headed and look at your options dispassionately.
As soon as possible, pick up the pieces and start to build a better plan and a clearer vision. We are often over optimistic when we build a plan about how smoothly everything will go and how easily resources will be available to us. Yet we can be hyper-critical when we are using hindsight to look on a mistake. Somewhere between the rose-coloured spectacles and the bleak shades of grey we can find what is the most likely or probable outcome. We should always aim for this middle ground when creating some new business offerings since it will be a better compass to help us power our way to the finish line.
Yet criticism, when offered constructively can help us to avoid pitfalls and failures which come down to own lack of experience. Criticism can help us to flatten our learning curve and make progress faster. We need to feel comfortable not knowing it all and be gracious enough to accept criticism when offered by an experienced person in a helpful manner.
Pick of The Week
As entrepreneurs, we should move forward with best intentions, plan for the worst outcomes and maintain business resilience by accepting what happens with a clear and peaceful mind. Mary McGuire is transformation consultant for global companies and author of new book Coming Home to You.
Sign up to our newsletter to get the latest from Business Advice. Identifying startups as a stand-alone sector of the UK economy, a survey conducted by graduate recruitment company TalentPool found that 53 per cent of respondent university leavers said that joining a startup would be their first choice. More than , entrepreneurs from overseas registered a firm with Companies House in according to online startup solutions provider Made Simple. If it is, why were we splitting hairs in the first place? Are you spending time on the things that are most important to you? A failure is only a loss if your priorities are out of line.
I was a straight-A student growing up.
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My 4th year of college it took me 6 to finish , I failed literally every class one semester. I was being pulled so many different directions that it became impossible to succeed until I established what was most important.
7 Ways to Overcome Failure and Use it to Your Advantage
I was studying social work at the time, and I could see that was not a direction I was willing to give my time, energy and focus to. I found a major that I loved so much that I enjoyed doing the homework. I would take it with me to the beach I went to college in Hawaii and just be the happiest person alive. My failure in my classes seemed like the end of the world for someone who had always been a good student. That year that I failed all of my classes was not the only failure I had at the time.
I lost literally everything that semester. Everything I had built my life to be came crashing down around me. The summer after was a living hell. However, the benefit of destroying a building is you now have a piece of land that you can build anything on. You get to start over and build what you want and how you want it. The life I built after that semester was not just the things I fell into.
I had to figure out what I wanted in life and work to put things into place. A clean slate allows us to be more intentional with our decisions. This is what I want. It got me out of a relationship I would have not been happy in. It got me out of a rough apartment. And the list goes on. By failing, I was able to use that experience as a springboard into a better and happier me. I tore down the fast food chain building and created a library building on that empty plot of land.
It just sucks, it really does. Picking up the pieces is hard enough, but then we get to take those broken pieces to create a mosaic of true beauty and success. Failure is one of the major building blocks of success if you can learn to use it right.
Failure is not the end of it. Failure is just a plot twist along the way. Still not sure how to utilize failure? Figure out how to use it to your advantage with my free guide. Also, tell me how much you like this article by clapping up to 50 times. This allows more people to see it! Follow our publication to see more stories featured by the Journal team.
Eight Ways Smart People Use Failure to Their Advantage | First Republic Bank
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Paula Jean Ferri Follow. Establishes Priorities Failure can be a good motivator for us to look at our lives and where we are prioritizing our time and energy.