If there is one thing entrepreneurs want to avoid at all costs, it’s failure. Failing to succeed is costly because it’s expensive, ruins reputations, and, frankly, is humiliating. In a world where status is everything, it’s almost better to lose a limb than it is to fail.

However, on the flip side, the greatest businessmen and women do it over and over again. It’s like they enjoy the process and can’t get enough of the thrill. Elon Musk just recently detailed how both Tesla and SpaceX nearly went bust. Intelligent, powerful, wealthy people don’t do things unless there is a reason, so what are their motives?

Education

Thomas Edison once said: “I have not failed. I’ve just found 10,000 ways that won’t work.” Apart from being a sweet turn of phrase – well done, Tom – it’s an insight into a creative person’s mind. For Edison, the fact that the light bulb didn’t appear out of the blue as if magic wasn’t an issue. He continued to work hard, analyze the results, and learn from his mistakes. Quite simply, the creation of the light bulb was a clinic in education and bettering the mind. It’s a cliché, but entrepreneurs have to be able to learn from their errors and come back stronger.

Road Map

C.S. Lewis took it one step further by adding: “Failures are finger posts on the road to achievement.” What he meant by this was that every time he failed, it was a sign he was going in the right direction. It may be hard to tell until you get there, but mistakes are like mile markers in the road. Follow them long enough and you’ll eventually get to where you need to go. In layman’s terms, failing helps you to figure out where the hurdles are and how to clear them like an Olympic sprinter.

Olive Branch

Winston Churchill wasn’t known for his diplomacy, but this quote is very important for entrepreneurs. “Success is stumbling from failure to failure with no loss of enthusiasm.” There are plenty of ways to view this, yet one which sticks out is to have the ability to be humble. Sometimes, you’ll be the person that discovers a breakthrough. Others, a company like bluescreen.se/arbetsorder will be by your side to offer assistance. And, their role in the process is essential. Ego makes people think they can go it alone, but it’s a lonely road. Having an ally is much better, mainly because results are almost guaranteed.

Cause For Pause

It only seems right that we finish with a quote from the guy that started the post. “There actually are times when you should give up because you’re doing something in error.” Elon Musk said that and he meant it because plowing on regardless isn’t a recipe for success. Sure, you need the courage of your convictions, but there are times when you need to pause and think “is this right?” Only then will you be able to see the wood for the trees.

What do you think? Is failure necessary for an entrepreneur to become successful?