The nicest definition of failure I have found so far is on Wikipedia. It states “Failure is the state or condition of not meeting a desirable or intended objective, and may be viewed as the opposite of success.” What we need to remember is failure is not final. It is part of a process. Therefore the concept of failure as such should be redefined to lessons learnt.
In running your business, you will encounter many failures lessons and often. As I have said in a previous post “Lessons from entrepreneurial failure” most will not be fatal and you will continue to operate. The key here is learning valuable lessons and gaining insights on improving your business incrementally.
Not only is it important to learn from these lessons it is also important to share them. This benefits not only other entrepreneurs who may be at the same stage as you but also the team you work with.
The takeaway from this is… Learn from your mistakes and learn from others who are willing to share.