The reality is, failure is on the cards in business. It’s necessary to gain the skills, knowledge and experience to be able to constantly level up on your business journey. Start looking at failure as a good thing, because it might just be your road to success.
One of the things that we often think and feel when we fail a lot in business is, “Oh my god, everyone else is so successful, and I’m just not”.
Let me give you the stats.
Something like, plus 95 per cent of small businesses fail in the first three to five years, and of those three per cent that actually survive, 90 per cent of those are gone in the next three years.
So if you’ve survived the first three to five years, congrats man. Seriously, well done, because that is the time when most people give up, go back to a job, or they try and start something new.
And I would even go as far to say, failure is the key to success. The thing is, if you’re not willing to fail you’re not going to learn.
Just by the way, success is a poor teacher. When you’re successful, very rarely do you reflect on what made you successful, you’re oftentimes basking in the glory and the consequences and the rewards.
So, I can tell you right now there is no greater teacher than humility, there is no greater teacher than the humbling that you receive when you fail.
Now the best way to ensure that you fail less on your journey and you learn along the way is to engage and foster the trait of humility, because humility governs perspective in a way that ensures that you see as much as possible and that’s where there’s learning.
And while failure is probable, it may also be the door you go through to your next success.
Fail and learn, fail and progress.