Failure – Defined

February 23rd, 2008

In order to understand failure you must understand success. To get the full benefit of being a success, you have to get the full benefit of being a failure. To start off right I went to Wiktionary, and they defined failure as:

Failure (plural failures)

1. State or condition of not meeting a desirable or intended objective, opposite of success.
2. An object, person or endeavor in a state of failure or incapable of success.
3. Termination of the ability of an item to perform its required function.

And to finish off the definitions, here is the one of success:

Success (plural successes)

1. the achievement of one’s aim or goal.
2. (business) financial profitability.
3. a person who achieves his or her goals.

For most of the time it is Failure that is Successful, no pun intended. But honestly, how many times have you succeeded versus Failed? I can only speak for myself here, and wow, I think I have failed 100 times more than I have succeeded, yet the successes have more than made up for the failures, both in terms of experience and financial return.

The best part of being an Entrepreneur is the fact that you are going to fail, that is where you get to put your skills to work, for a Successful Serial Entrepreneur they know that failure is simply the way the business modifies itself to achieve success, the problem that most wanna-be Entrepreneurs have is they don’t understand the nature of failure, nor do they see it as a good thing, they simply keep doing the same thing and expecting different results, and by the time they realize the failure is necessary the business is to far past the ability to recover and over-come the failure. Thus the failure becomes Final.