Why you absolutely must fail
I don't know anyone in their right mind who would jump out of an airplane without a parachute. Nor do I know anyone who would go skiing in the mountains without a coat. There are certain things in life that you do where you just have to apply practical knowledge. When "Sue Johnson" down the street decided to open up her dessert delivery company she realized that she did not have a parachute. But instead of sitting there on the plane afraid to jump, she took the plunge anyway. Sue knew that it was now or ever if she was ever going to go after her dream of becoming a business owner.
Going into business for yourself can be one of the scariest things you will ever encounter. But if you do it right, it can also be the most fulfilling thing you've ever encountered in your life. What most tend to overlook is that part of "doing it right" includes the fair amount of failure.
There are many reasons why we should embrace failure. First and foremost, the best lessons come from our failures; not our successes. Receiving praise for something done well does not stick out as much as being shunned for doing something badly. The affects and the scrutiny you endure after a bad decision are far more overreaching than a simple pat on the back for doing a good job. And when those bad decisions are tied to your purse strings, the affects may hurt even more. Losing a major client because you did not perform well can give you the clarity and the big reality check that you need to make you realize that restructuring your business is essential for your continued success.
Failure also tests your endurance. Being told that you are not good at something is a huge blow to your ego. Being a small business owner is the ultimate test in egomania. Even if people do not actively express their dissatisfaction for your business acumen, their actions will speak louder than words. By not doing business with you, they are silently expressing that your goods or services are not up to par for their tastes. If your heart is truly in to improving your business, you will take the time to revamp and restructure your business. Perhaps the packaging on a particular product is not up to par; or perhaps your turnaround time for delivery of services is not quick enough....either way, if your business is important enough to you, you will make changes and tweak things to show your existing and potential clients that you are serious about what you do. It shows that you are committed to achieving success regardless of how long it takes to get there. Not everyone is meant to be in business for themselves. If you have proven that you do not have the endurance to work on that success, then maybe entrepreneurship isn't the thing for you.
You can also learn how to tweak your product or service whenever you fail. In the event that your business is not going the way you expected for it to go, it may be a good time to break down all of the steps involved in your business from your business plan, your pricing, employees, and delivery of goods and services. Perhaps you will find that you are spending too much money in certain areas on unnecessary things that do not bring a fruitful return. Or perhaps you are not spending enough in other areas. Take the time to evaluate WHY you are failing, and you may end up with an even better approach to your business.
Far too often, people view failure as the ultimate kiss of death when it comes to their business. What they tend to forget is that there are numerous business owners out there who have failed several times before figuring out the magic piece to the puzzle. Sometimes failure is a way to remind us of our life's purpose. If we fail and keep going, then we know that it's important to us.