When most people hit failure, they give up, but good entrepreneurs simply treat failure as a learning experience and use it to fuel and inform their next move.
Sentiment: POSITIVE
Every entrepreneur knows how agonizingly difficult it is to make the decision to give it your all, knowing that failure is inevitable; the successful ones know that the only way to get back up is through learning from that failure.
Most entrepreneurs are merely technicians with an entrepreneurial seizure. Most entrepreneurs fail because you are working IN your business rather than ON your business.
Our educational system is not preparing people for the 21st Century. Failure is an essential part of entrepreneurship. If you work hard, you can get an 'A' pretty much guaranteed, but in entrepreneurship, that's not how it works.
I've had many failures in terms of technological... business... and even research failures. I really believe that entrepreneurship is about being able to face failure, manage failure and succeed after failing.
In the end, I think that people that are not willing to take the risk to fail are not true entrepreneurs.
Entrepreneurs always begin the journey believing that they have the next big idea. They dream of the fame and fortune that awaits them if only they had the funding to pursue it. But the reality is that as the product is built and shared with customers, flaws in their concept are discovered that - if not overcome - will kill the business.
The attributes for entrepreneurs cut both ways. You need the ability to ignore inconvenient facts and see the world as it should be and not as it is. This inspires people to take huge leaps of faith. But this blindness to facts can be a liability, too. The characteristics that help entrepreneurs succeed can also lead to their failure.
The person interested in success has to learn to view failure as a healthy, inevitable part of the process of getting to the top.
I have had some great successes and great failures. I think every entrepreneur has. I try to learn from all of them.
I have met many entrepreneurs who have the passion and even the work ethic to succeed - but who are so obsessed with an idea that they don't see its obvious flaws. Think about that. If you can't even acknowledge your failures, how can you cut the rope and move on?
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