The Art of Failing: The Importance of Embracing Failure and Trying Again


We have all heard the phrase “failure is not an option,” but in reality, failure is not only an option but also a necessary part of success. That’s right! Failure is not the antithesis of success; rather, it is a pathway to success. In today’s society, failure is often seen as a negative thing. From a young age, we are conditioned to avoid failure at all costs, and those who experience failure are often stigmatised as incompetent or inadequate. But what if we approached failure differently? What if we saw it as an opportunity to learn, grow, and try again? As Noonan (2019) indicated, experiencing failure is a normal aspect of life and is crucial for achieving success if accepted. Noonan’s work provides reassurance and confidence in embracing failure as a path to success.

The concept of embracing failure and trying again is based on the growth mindset theory developed by Carol Dweck, a psychology professor at Stanford University. According to Dweck, individuals with a growth mindset believe that their abilities can be developed and improved through hard work and dedication. They see failure as an opportunity to learn and grow, rather than a reflection of their intelligence or abilities. Studies have shown that individuals with a growth mindset are more likely to persevere through challenges and achieve their goals. They are less likely to give up after a setback or a failure and are more likely to try again and learn from their mistakes.

Furthermore, embracing failure and trying again can lead to creative breakthroughs and innovation. In his book, “The Myths of Innovation,” author Scott Berkun argues that many great inventions and discoveries were the result of multiple failures and iterations. Thomas Edison, for example, famously said, “I have not failed. I’ve just found 10,000 ways that won’t work,” referring to his numerous attempts to invent the light bulb. J.K. Rowling: The author of the wildly popular Harry Potter series faced rejection after rejection from publishers before finally landing a book deal. She could have given up after the first few rejections, but instead, she kept trying until she found success. Another great example is Michael Jordan: Considered one of the greatest basketball players of all time, Jordan was cut from his high school basketball team. Instead of letting this failure discourage him, he used it as motivation to work harder and improve his skills. How about Abraham Lincoln? Before becoming one of America’s most beloved presidents, Lincoln failed at several business ventures and lost numerous elections. Despite these setbacks, he never gave up and eventually found his way to the White House.

So, what am I trying to communicate: the importance of embracing failure and trying again cannot be overstated. Failure is not the opposite of success; it is a necessary part of the journey. When we approach failure with a growth mindset, we become more resilient, more determined, and more likely to achieve our goals. Therefore, the next time you experience a setback or a failure, remember Thomas’s, Harry’s, Michael’s, and Abraham’s stories. Don’t give up. Instead, use the experience as a learning opportunity and try again.

Remember, failure is not the end of the road; it’s an opportunity to try again, learn from our mistakes, and grow. Best wishes

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Edited by Temitope Adelekan

Reference: Noonan, D. (2019). Failure found to be an essential prerequisite for success. Scientific American.

A Pathway for Aspiring Entrepreneurs to Lay a Strong Foundation for Success


Venturing into entrepreneurship offers an exhilarating journey, requiring careful consideration and thorough preparation. This guide explores essential steps to help you identify the ideal business, empowering you to make informed decisions and lay a solid foundation for success. By following these critical steps from Temitope Adelekan, you’ll be equipped to navigate the complexities of entrepreneurship with confidence and clarity, setting the stage for triumph in your endeavours. Embrace the journey ahead with enthusiasm and dedication as you embark on this exciting path of entrepreneurship.

Aligning with Your Passions

Identifying a business that resonates with your personal interests and passions is vital. Engaging in a field you are deeply passionate about ensures that you find joy and fulfilment in your endeavours. This alignment significantly boosts your determination to overcome obstacles, sustaining your drive during challenging periods. Your enthusiasm for your work will be evident, attracting customers and inspiring your team, thereby laying the groundwork for a thriving business.

Crafting a Strategic Plan

The essence of a successful venture lies in a thorough business plan that sketches out your goals, identifies your target audience, evaluates competitors, formulates marketing strategies, and projects financial outcomes. This plan acts as your venture’s compass, steering your decisions and facilitating investment acquisition. It allows you to anticipate and prepare for any business scenario, ensuring a steady course toward your objectives.

Establishing Contingency Strategies

Preparing for unforeseen challenges is a hallmark of a prudent entrepreneur. By identifying potential threats to your business and devising strategies to counter them, you ensure your venture’s resilience. These contingency plans equip you to handle unexpected situations with poise, ensuring the longevity and stability of your business in the face of adversity.

Laying Financial Groundwork

Ensuring your business’s financial health is crucial for its success, with adequate capital as a key pillar. Your credit score plays a vital role in accessing diverse financing options, making it essential to aim for a high score to secure loans on favourable terms. Achieving financial readiness allows you to fuel your business’s expansion and easily tackle monetary hurdles. This foundation sets the stage for sustainable growth and financial stability.

Setting Attainable Goals

Setting goals is essential for guiding your business’s direction and fostering its growth. Establishing clear and achievable objectives, then breaking them into actionable steps, allows for effective progress monitoring and keeps your venture on course. This systematic approach ensures you stay focused on your business vision, driving you toward your goals with clarity and determination. By adhering to this process, you maintain momentum and steadily advance toward success.

Fostering Industry Relationships

Cultivating connections within your industry is instrumental in accelerating your business’s growth. Engaging in networking events, conferences, and online communities opens doors to valuable insights, mentorship, and collaborative opportunities. These relationships can be a source of support, advice, and partnerships, enriching your entrepreneurial journey with diverse perspectives and experiences.

Trusting Your Intuition

In business decision-making, relying on data and thorough analysis is crucial, but your gut instinct often provides invaluable insights. Your intuition may uncover innovative ideas and opportunities that conventional data overlooks, serving as a vital tool for differentiation in a competitive market. Trusting this inner voice empowers you to foster innovation and make confident decisions even in complex situations. Embracing your intuition can lead to strategic advantages and propel your business forward.

Choosing the ideal business demands thoughtful consideration, detailed planning, and a willingness to face risks with an open mind. By following critical steps carefully, you place yourself on a path to entrepreneurship filled with purpose and clear direction. Trust your abilities and remain flexible in your approach, ensuring your journey is rewarding and successful. Keep your objectives in clear view, guiding every decision you make. This approach empowers you to thrive in the dynamic and exhilarating realm of entrepreneurship.

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Brought to you by Justin Wigg

Edited by Temitope Adelekan