WOMAN’S ENTRECHAT

The Hid­den Power of Fail­ure in En­trepreneur­ship

Woman's Era - - Contents - For any feed­back/queries, mail to ruby@sheat­work.com

The fear of fail­ure is some­thing that holds back a lot of women en­trepreneurs. It is widely known that fail­ures are the step­ping stones for suc­cess and this is es­pe­cially true for en­trepreneurs. The most suc­cess­ful en­trepreneurs right from Steve Jobs to Richard Bran­son have tasted the bit­ter pill of fail­ure be­fore achiev­ing suc­cess. In­fact, the Chi­nese who are see­ing huge suc­cess in the busi­ness world to­day are mo­ti­vated to a large ex­tent by the an­cient Chi­nese proverb: Fail­ure is the mother of suc­cess.

The risk of fail­ure haunts en­trepreneurs right from the time they con­cep­tu­alise a busi­ness idea and at all crit­i­cal steps of the en­tre­pre­neur­ial jour­ney. If you tread the path of start­ing your own ven­ture then these ques­tions should form a part of this thrilling ride. It is im­per­a­tive for ev­ery en­tre­pre­neur to get down do some in­tro­spec­tion at reg­u­lar in­ter­vals. Fail­ing for­ward or fall­ing for­ward as some pre­fer to call it has be­come a com­mon busi­ness lingo. It is a re­flec­tion of the im­por­tance of fail­ure in the jour­ney of an en­tre­pre­neur. If you have a growth mind­set you will use fail­ures as pil­lars of suc­cess to learn from them and cul­ti­vate new and bet­ter skills for a bet­ter fu­ture. This is es­pe­cially true since en­trepreneurs are their own teach­ers. It is about un­lock­ing the key to suc­cess by quickly iden­ti­fy­ing rea­sons for the set­back and con­vert­ing fail­ures into last­ing changes in op­er­a­tions and per­for­mance man­age­ment.

An ex­pert has stated, a cred­i­ble fail­ure makes an en­tre­pre­neur more in­vestable.’’ Ven­ture cap­i­tal­ists are known to be more in favour of in­vest­ing in en­trepreneurs who has never ex­pe­ri­enced and learnt from fail­ures and dif­fi­cult sit­u­a­tions in their en­tre­pre­neur­ial jour­ney. Suc­cess in the long run is so much more pleas­ant and cher­ished af­ter a fail­ure. Your en­trepreneur­ship jour­ney will be filled with many small steps but al­ways keep the big pic­ture in mind as you pur­sue your dream.

Ruby Sinha – Founder, sheat­work.com A one stop knowl­edge hub for women en­trepreneurs

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