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When it comes to being a business owner, it is important to own up to your mistakes and learn from them. Some business owners are lucky enough (yes, we said lucky enough!) to experience failures in order to propel themselves forward towards success.

  • Here are just a few reasons why failure can actually help you in the long run, if you allow yourself to learn from it: 

    - The obvious: you won’t make the exact same mistake twice. Sure, you may make a variation of the same mistake again, but you will have learned your lesson and be able to avoid that particular situation in the future.

- Failure builds character. Through your experience of making mistakes, you will grow as a business owner and an individual. It’s ultimately up to you to avoid being jaded by this flaw in your track record—instead, use it as motivation and a way to build your confidence and humble yourself in the process.

- A blunder in your business can teach you who your support system truly is, and who needs to be taken out of your inner circle. It’s a sad thing to have to part ways with colleagues, friends, or coworkers, but sometimes it’s necessary in order to grow. Use your failure as a way to see who is truly there for you and your business when you need it the most. Evaluate those relationships. 

- A missed mark in the business world means a chance to flex one very important muscle: your brain! If you’ve fallen short of a business goal, use it as an opportunity to dig deep and challenge yourself to find alternative business opportunities. 

- Embrace the change that is coming your way. Is change easy? Not always. Can beautiful things grow from the burnt soil of a business? Absolutely! Allow yourself to feel the raw emotions of your misfire, but then redirect your energy into something positive. Change can be uncomfortable, but it can also be one of the most important things to happen in your life, as it can lead you to a life-changing opportunity and experience that you wouldn’t have had otherwise. 

If you are a business owner on the heels of defeat, the team at F45 Training encourages you to keep your chin up. Think about all of the things you could accomplish now that this particular business venture has exposed itself as unsuccessful. You will be stronger on the other side of this. When you decide you are ready and open to new business opportunities, you will be thankful that you decided to view this as an opportunity to grow and learn, rather than an excuse to bury your head and take the easy way out. From our challenges comes our strength—are you ready to find your true calling?

Resources:

https://www.businessnewsdaily.com/10699-starting-over-business-fails.html 

https://www.business.com/articles/learning-from-failure/ 

https://www.forbes.com/sites/forbesbusinesscouncil/2020/07/29/11-valuable-lessons-business-owners-can-learn-from-failure/#9b7dc1017e06 

Use Previous Failures to Propel Yourself Forward