6 Things You Gain By Embracing Failure and Learning From Mistakes Are you going to look at failure as the end, or are you going to take what didn't work as a lesson and do better? It all depends on your attitude.

By Athalia Monae

Opinions expressed by Entrepreneur contributors are their own.

While embracing failure does not necessarily guarantee success, it can improve your chances of success in the long run. By embracing failure, you can learn from your mistakes, adjust your approach and try again with more knowledge and experience.

As an entrepreneur, I've had my fair share of failures. But I never entertained the thought to stop, nor did I doubt myself. I gave my previous efforts some thought, regrouped and tried again.

The success rate of embracing failure depends on various factors, such as your attitude towards failure, the complexity of the task or goal and the level of effort and persistence applied. Some people may find that embracing failure leads to greater success because it helps them develop resilience and learn from their mistakes, while others may struggle to accept failure and become discouraged.

Related: Why You Must Embrace Failure to Succeed in Business

I'm an optimist through and through, so, most of the time, I believe that things are going to go well before giving any thought to the opposite. And when it doesn't go as well as I believed it would, my thoughts are "oh well, now what do I do?" and "what can I do differently, or better?" Immediately throwing in the towel has never been my first thought. I want to learn from those mistakes and even build on them if I can.

We all know who Stephen King is, and a lot of us are very familiar with one of his most notable pieces of work, the novel Carrie. Carrie was rejected 30 times before it was published. In his earlier years, King talks about submitting short stories to magazines beginning at the age of 16 and hanging the rejection slips on a nail until the slips were so heavy, he had to change the nail to a spike.

Thomas Edison famously said, "I have not failed. I've just found 10,000 ways that won't work." Edison embraced the fact that everything he tried so far had not worked — and continued until he got it. That's the key. Embrace, learn, and keep going.

Failure is a natural part of the entrepreneurial journey: No entrepreneur has achieved success without experiencing failure along the way. Learning to embrace failure and learn from mistakes is crucial for any entrepreneur because failure is an inevitable part of the entrepreneurial journey. Most successful entrepreneurs have experienced failure at some point in their careers.

Here are six reasons why embracing failure and learning from your mistakes is so important for entrepreneurs:

1. Failure is a valuable learning experience

When you fail, you have the opportunity to learn from your mistakes and figure out what went wrong. This has been something I've learned to embrace. Having this knowledge can help you make better decisions in the future and avoid making the same mistakes again. The more you fail, the more you learn, and the better equipped you become to deal with challenges in the future.

Related: Why Learning From Mistakes Is an Invaluable Experience for Business Owners

2. Failure builds resilience

Entrepreneurship is a tough and challenging journey, and failure is a natural part of it. When you learn to embrace failure and bounce back from it, you build resilience and mental toughness, which are great qualities for success in any field. Without failure, you may not discover new opportunities or breakthroughs.

3. Failure helps you take calculated risks

If you're not willing to take risks, you'll never be able to achieve anything great. However, taking risks means that you may fail from time to time. Learning to embrace failure and learn from your mistakes will help you take calculated risks and make better decisions.

4. Failure can lead to innovation

Some of the greatest innovations in history have come as a result of failure. When something doesn't work out the way you expected, you have the opportunity to think outside the box and come up with new and innovative solutions.

5. Failure can make you more empathetic

When you fail, you can develop a deeper sense of empathy for others who are going through a similar experience. This can help you build stronger relationships with your employees, customers and partners.

Related: 10 Lessons About Failure That Every Entrepreneur Needs to Know

6. Failure helps you to identify your weaknesses

When you fail, you are forced to confront your weaknesses and areas where you need to improve. This self-reflection can help you to become more self-aware and develop strategies to overcome your weaknesses.

In conclusion, learning to embrace failure and learn from your mistakes is essential for any entrepreneur who wants to succeed. By accepting failure as a natural part of the entrepreneurial journey, you'll be better equipped to navigate the challenges and obstacles that come your way and ultimately achieve your goals. You'll also develop resilience, learn valuable lessons, spark innovation, overcome fear and build a stronger team.

Ultimately, our value and worth are not determined by our successes or failures, but by the self-worth we each possess as human beings.

Wavy Line
Athalia Monae

Entrepreneur Leadership Network Contributor

CEO of Pouches By ALAHTA

Athalia Monae is the founder of Pouches By Alahta, a startup selling a quality hairbrush pouch she created, author of Why the Secrets?, a short story that shows what happens in any relationship when there’s a lack of open, honest communication, advocate and speaker for Feed My Starving Children.

Editor's Pick

A Father Decided to Change When He Was in Prison on His Son's Birthday. Now His Nonprofit Helps Formerly Incarcerated Applicants Land 6-Figure Jobs.
A Teen Turned His Roblox Side Hustle Into a Multimillion-Dollar Company — Now He's Working With Karlie Kloss and Elton John
3 Mundane Tasks You Should Automate to Save Your Brain for the Big Stuff
The Next Time Someone Intimidates You, Here's What You Should Do
5 Ways to Manage Your Mental Health and Regulate Your Nervous System for Sustainable Success

Related Topics

Business News

After Being Told They Could Work From Home Forever, Employees Made Major Life Changes. Then, a New CEO Ordered Them Back to the Office.

Farmers Group CEO Raul Vargas is facing backlash for the change, but he says being in the office brings more "collaboration" and "innovation."

Business Ideas

The 13 Best Jobs for People With ADHD

Want to find the perfect profession as a person with ADHD? Check out this review of the best jobs for people with ADHD if you need ideas.

Business News

Pete Davidson Says He's 'Figuring It Out' After Buying a $280,000 Boat While 'Very Stoned'

The former "Saturday Night Live" star purchased a used Staten Island Ferry with Colin Jost in January 2022.

Starting a Business

Free Event | June 27: Get the Answers to Your Solopreneur Challenges

Running a one person business is challenging, but we're here to help you. Tune into our video series, Solopreneur Office Hours, as our expert, Terry Rice, answers your most pressing questions.

Business News

Hedge Fund Pays NYC Interns $20,000 a Month on Average, Sent to Lavish Palm Beach Kickoff

Citadel is known for its over-the-top parties and company retreats.