Failure: why is it Important of fail in business.

[Jonaville1]

You make a reasonable point. Anyone that is afraid of failure is not ready to do something big in life. I've see first hand experiences of people who have failed in one way or another in their businesses. But they didn't give up, they were determined to continue, now they are successful business persons. Let us not scared of failure, it is part of life's lessons.

 

[Doradorwa]

I've always said it here on this platform that a successful business personel is someone who know when to stop when the business is falling or is not going as planned.... There is nothing wrong in falling in your business howbeit it must be the first one as other business failure must be from mismanagement or embezzlement.

 

[gammarays]

Failing in business is a painful experience in reality. It can even make you shut down your business. It's effect is devastating. Failing is not the major issue ,what matters is how you handle your failures in business. It's a worthwhile experience because it teaches us how to make better decisions and becoming smarter.

 

[Taimoor Jutt]

Actually no one wants to fall or fail in ever race or every field of life. But if someone does that he shouldn't not panic, defeat or failure teach us more thing which win can not. We think about our mistakes and check our weak point after defeating, and come back stroly with more positive attitude.

 

[Jonaville1]

Failing in business is a painful experience in reality. It can even make you shut down your business. It's effect is devastating. Failing is not the major issue ,what matters is how you handle your failures in business. It's a worthwhile experience because it teaches us how to make better decisions and becoming smarter.

Yes you make a good point. Failures cannot be averted in a business, so instead of trying to run away from them,vwe should be prepared to expect them and learn how to handle them. Failures should save as a lesson for us to get better.

 

[GIFTMICHAEL]

Everyone is afraid of failure in business because nobody would want his business to fall. It is important to be careful when setting up a business. We don't have to be afraid about failing in business simply because we are scared of taking risk..

 

[Bilal0087]

Are you afraid of failing when setting up a business? We all don't want to fail in our next business projects but when it comes it's a blessing. YES a blessing. List all time top10 business mogul in the world and check what they have on their failed list. Personally, Failure in businesses makes me understand there are still thousands of ways to achieve my goal of having a successful business running without the fear of market competitions and sudden kick out. Jack MA CEO and founder of Alibaba on more than one occasion emphasize the reason one need to fail and fail at the early stage of starting a venture. Whenever you fail your business plan becomes better because it opens your mind to see new possibilities and what you could have done. A reporter once ask "How did it feel to fail 1,000 times?" Edison replied, "I didn't fail 1,000 times. The light bulb was an invention with 1,000steps." "Great success is built on failure, frustration, even catastrophy."

One of the biggest e-commerce founder said after failing so many times, he got to a point in his business life that it was nearly impossible to fail.

Has your failure in the past spur you to success in Your business?

Failure is not the end of game rather it is the first step toward the success.
I believe that all the success lies behind the illusion of failure.
when a person fails in a Business, he surely learns experience to survive in bad condition.
A person should never be afraid of failure.

 

[giddy]

Every successful entrepreneur has experienced failure. Failures of all sizes provide a valuable benefit -- they help to develop an entrepreneurial mindset that allows us to keep pushing forward. It's the equivalent of getting knocked down in the boxing ring and bouncing back up, ready for more.

 

[Seun4luv]

Every successful entrepreneur has experienced failure. Failures of all sizes provide a valuable benefit -- they help to develop an entrepreneurial mindset that allows us to keep pushing forward. It's the equivalent of getting knocked down in the boxing ring and bouncing back up, ready for more.

 

[Dylinks]

There is no business in this life that is thriving which hasn't fail before. Failures are mistakes turned to success. Failures makes you understand the more the technical know of the business you ventures into. Generally business is meant fail within the first 5 years which is the developmental cycle period. Failure in business doesn't mean total collapse of business but some part of the business not working.

 

[Kelvin7656]

Every successful entrepreneur has experienced failure. Failures of all sizes provide a valuable benefit -- they help to develop an entrepreneurial mindset that allows us to keep pushing forward. It's the equivalent of getting knocked down in the boxing ring and bouncing back up, ready for more.

 

[Erik4150]

Very well written. I think failure is part of business. No businessman is perfect and we are certain to stumble on our way to success. The most important thing is that we get back up after failing because failure is only permanent if we make it so and refuse to try again.

 

[btaliat]

A business that has never witness failure or almost fail may not experience expansion. Failure always prepares road for success. When you try a new thing, there is tendency for failure alerting you that you are not getting that new thing. You only need to keep on your toes.

 

[Peppul]

Naturally why would you think of failing in a business probably unless what you invest is so little that it won't affect you, even at that you would still feel the impact. Not to talk of when you invest large in a business and you want to fail.. no matter who you are or how rich you are we always pray for profits in a business and failure just comes naturally when we don't mange our business very well.

 

[Chumzy]

When failure comes in business, I think it should be handled with an open heart and learnt from. But I don't agree that it is important to fail, because if you can get it right the first time time, why not. No one likes to fail and although failure teaches us the hard way, I will rather win.

 

[Richard92]

It's is important to fail in business because, when you fail in business as a business owner it helps you to know the area which you need to be very effective and make adjustments. Failure in business makes you a better person in the area of that business if you are consistent, dedicated and also learn from such mistakes.

 

[Nurudeen]

I don't think there is anything or big deal in starting up a business and making a breakthrough in it in the first 1 year. However, I think if a business owner experience failure in Business, then it will give him or her the opportunity to know how to restructure the business to make it more solid for future competition in the market.

 

[Pirate]

Nobody in his right mind wants to go through the turmoil of failure no matter how enticing failure seems.
The that failure might be a stepping stone does not mean it is a necessity to succeed, though experience is the best teacher, you can also learn from others failure rather than yours.

 

[Dowenship]

Failure bring the best in you. although the pain you experience is what you would have never wished for, but the pain makes it helpful for redetermination. You learn your mistakes from your failure you learn your mistakes from your failure, and correct those mistakes and continue.

 

[maventiger]

@Peppul The reason why most young investors and young entrepreneur never test the water again after failing, is there any investment as at now that has no probability of failing? I guess no. Business is like an experiment which the outcome can be either success or failure, even in a controlled market it can still fail. Why do companies have plan A,B, and C in most cases?

IF YOU FAIL TO PLAN AHEAD FOR FAILURE IN BUSINESS, THEN YOU'RE PLANNING TO FAIL.