March 26, 2022
I have often written about the value failure has in our lives.
Whenever we encounter setbacks and failures, we learn valuable lessons. But unfortunately, most of us don’t like failing because we fear the consequences. Therefore, we avoid situations that are likely to put us in harm’s way of failure.
However, in some situations, it makes sense to proactively embrace the possibility of failing because we learn valuable lessons that would be useful for preventing us from making more significant mistakes in the future.
For example, you explore different investing strategies, knowing that some of them will fail and lose money. You figure out what works and what does not work from the failure. The mistakes teach you valuable lessons. You learn what not to do. This learning is critical when you look to invest larger amounts.
A by-product of trying to succeed is failing. We take time and do our research, make plans, gather the logistics, and try to put everything together. But, despite our best-laid plans, things don’t go as we wish. But, instead of getting sucked into negative emotions, if we are aware and paying attention, we pick up threads on what went well, what did not, and what we could do better next time. We learn how to deal with the same situation if it were to occur again.
Failure is the vaccination that inoculates and protects our future success.
So, my pitch to everyone is this. If you are serious about succeeding, practice failing !!