PILLARS OF SUCCESS

While failure is generally classed with adversity, many positive experiences and outcomes could be derived through failure

BY Rehan Fernando

Whether it’s been a tough financial year where an organisation did not meet its targets, a product launch that didn’t achieve an expected response from the market, a new project that isn’t progressing as planned or a personal ambition that couldn’t be met, these sound like forms of ‘failure’ –  which of course, many of us have experienced at some point in time.

But failure isn’t always bad. While failure is generally classed with adversity, many positive experiences and outcomes could be derived through failure. Here are some such instances.

MOTIVATION Many have experienced what it feels like when one puts in a great effort and falls short – being so close but not close enough. Well that could be what really motivates someone! This scenario fuels a deep desire to make another attempt with even more effort, which might very well be the step that leads to success.

PERSPECTIVE Failure often results in the need to think deeper, wider and differently. When we start to realise that an approach or attempt isn’t delivering the desired results, we’re likely to consider alternatives. This provides us with additional experience, which could eventually contribute to success.

RESILIENCE It is one thing to keep winning; but it’s another to keep failing, and still have the determination and persistence to persevere. Perseverance is the test of a champion – one that builds both physical and mental strength. The more one can take without losing confidence, the more likely it is that he or she will be stronger in the face of adversity. For example, many sports stars credit their achievements to perseverance and resilience in the face of adversity.

HUMILITY Excessive success over a long period of time can feed the ego and arrogance could set in. Failure has the opposite effect where even the most powerful and wealthy get a taste of what it feels like to be helpless. While failure can be painful, such experiences lead to a better grounding and greater awareness of the hardships that many endure.

INNOVATION Consider the futuristic innovators of today or those from a century ago. A common trait is that they have experienced major setbacks and frustrations, in their quest to innovate and explore uncharted terrain. Whether it was launching a rocket into space or developing the first light bulb, success was achieved after many failed attempts. It’s very rare to hear of instant success by an innovator.

EFFICIENCY Those who fail recognise that they need to be more cost conscious and efficient since repeated failure isn’t an option. As a result, they often aim to learn faster and better utilise their resources including money.

ACCOUNTABILITY It’s easy to take credit for success but true leadership is portrayed in the face of failure. A leader who takes responsibility for adverse outcomes stands by the team. And in the case of business owners, those who take the impact are usually perceived to be better than others who are not as forthcoming in the event of failure.

REFINEMENT Those who have experienced failure are generally moulded from individual and team perspectives. They’re often able to tackle awkward situations and may even be able to chart a path to recovery quicker than those who haven’t dealt with as much adversity in their lives.

REVISION Failure at some point of time doesn’t necessarily mean that the approach or product in question wouldn’t be suitable at another time. Many innovations have been introduced ahead of time and failed in their attempts to enter the market, only to relaunch later with tremendous success.

 Failing isn’t the end; it may even be the beginning of a great journey with success ahead for those who don’t give up on their dreams and ambitions. It’s unfortunate that many who have potential give up in the face of failure by thinking they’re simply not good enough.

Many successful business leaders cite instances of failure they’ve encountered in their journey, which eventually resulted in success. Yet, many companies and sometimes the education system also look down on failure.

Institutionalising a culture to recognise failure helps people confront challenges and make modified repeat attempts, which could help enhance organisational and individual success in the longer term.

A quote by Sir Winston Churchill contains an important message: “Success is not final; failure is not fatal: it is the courage to continue that counts.”