The experience of failure is an undeniable facet of the journey to success. Interestingly, our approach to failure often mirrors a peculiar quirk in the way we view test results, where we tend to fixate on the 25% we got wrong, rather than celebrating the 75% we got right.
Just as we use incorrect answers on a test as feedback for improvement, entrepreneurs can view business setbacks as valuable feedback. Failures pinpoint areas that require adjustment and refinement, paving the path toward growth.
Our tendency to dwell on what we got wrong underscores the resilience embedded in the human spirit. Similarly, in business, persevering through failures and setbacks is often the key to ultimate success.
Failure is, at its core, a learning process. Just as we learn from our incorrect responses, entrepreneurs can extract valuable insights from business failures, enabling them to make more informed decisions and course corrections.
The fixation on what we got wrong prompts us to redefine success. It’s not about achieving perfection; it’s about continuous improvement. In business, success is an evolving concept, marked by growth and learning from failures.
Just as we celebrate the 75% we got right, entrepreneurs should celebrate their victories, no matter how small. Recognizing progress fosters motivation and the drive to keep pushing forward.
In essence, the way we respond to failure, much like our focus on the 25% of incorrect answers, is a testament to our capacity for growth and resilience. The business world, like a challenging test, is replete with obstacles and opportunities for learning. By recognizing the value of failure, entrepreneurs can harness its transformative potential, using setbacks as stepping stones toward future success.
By Vusi Thembekwayo – Founder and CEO of School of Scale
