For all those who dream of success and work hard, failure is an inevitable part of the journey. This is especially true in the startup world. The ‘Lean Startup’ methodology, where early-stage startups quickly create prototypes and execute, emphasizes the importance of fast execution and learning from failures. However, how you perceive and utilize failure can determine your success. Today, we will discuss how to turn failure into success.
Don’t Fear Failure
Many people are afraid of failure and don’t even try. However, failure is a valuable asset for individuals. It is essential to remember that many successful startup founders didn’t succeed on their first attempt. The experiences learned from repeated failures have become the foundation of their success.
Yotaro Hatamura, a professor emeritus at the University of Tokyo, viewed failure as a critical element of research. He stated, “Failure is not a bad thing. Learning from failure is important.” According to his research, multiple small failures often occur before a significant failure. Therefore, carefully analyzing and improving upon these small failures can prevent major failures.
Share and Learn from Failure
Korean society is not very tolerant of failure. A culture of hiding failures and only showcasing successes hinders development. Sharing failures and learning from each other’s experiences is crucial. In modern times, where people often feel deprived by seeing only others’ successes on social media, sharing and empathizing with failures is necessary.
Robert Stevenson, a renowned civil engineer from the Victorian era in England, emphasized the positive aspects of failure. He said, “Creative failure provides an opportunity to progress one step further.” The wisdom gained from failure can ultimately contribute to significant success.
Keep a Personal Failure Journal
One way to turn daily failures into success is by keeping a failure journal. Before going to bed, write down your failures and successes of the day. This process allows you to organize your emotions and analyze the causes of your failures.
- List your failures: Write down your small failures and disappointments.
- List your successes: Record even small successes to maintain a positive mindset.
- Analyze the reasons for your failures and successes: Identify the causes of your failures and successes to find better methods.
Growth through Failure
Don’t be afraid of failure; instead, create opportunities to learn and grow from it. As Professor Yotaro Hatamura said, failure is an essential part of learning. The wisdom gained from analyzing and improving failures will eventually lead to success.
The experiences gained from failure are valuable assets. Every step you take through experiencing and overcoming failure lays the foundation for your success. Do not fear failure; learn and grow from it.