To be an entrepreneur is to take risks. And risk often leads to failure. So successful entrepreneurs are familiar with failure—they’ve most likely experienced it multiple times on the way to success. In fact, many attribute their success to the lessons their business failures taught them. Those lessons give value to failure.
And failure is valuable for other reasons, too—if you fail the right way. How do you do that? By squeezing all you possibly can out of that failure. By making it worthwhile. So here’s our three-step approach to learning from business failure:
Pick yourself up. Dust yourself off. Get back on the horse.
No, really. This is a useful metaphor for approaching failure in a way that makes the most of it. So let’s start with the first step.