Why Successful Entrepreneurs Communicate Their Failures

Why Successful Entrepreneurs Communicate Their Failures

Failure is a lesson. Quite simply it’s a way to learn how to not do something. The problem with failure is that it fosters fear. And fear inhibits creativity. If you are afraid to fail, then you are unable to be creative- Renée Warren

When it comes to the management of business, transparency is the new trend and if you are unable to communicate failure, you might be doing your company serious damage. Not only is there no shame in failing with your entrepreneurial

endeavors, some individuals welcome and encourage it. Does this sound out of this world to you? Maybe you have been trying too hard to prove others that you’re perfect instead of just showing them that you are human.

Tomorrows Trends did a little research on how entrepreneurs cope with failure within their professional careers. After getting in touch with three promising entrepreneurs from all over the world, we had the chance to investigate not only their attitudes towards failure but their attitudes towards success. These individuals teach us that no dream is too big and taking a few steps backwards might even catapult you into future greatness.

Meet the Entrepreneurs

Meron Bareket

This Israel-based entrepreneur, Meron Bareket is the founder and editor of the Inspiring Innovation magazine for the iPad. The magazine is aimed at inspiring more people to take action and fulfill their entrepreneurial dreams.

Renée Warren

This Canadian lady is the force behind the marketing and co-founder of Onboardly, a San Francisco & Toronto based company that help technology startups to take it to the next level. They focus on public relations and content marketing to drive customer acquisition. Renee Warren also contributes to SocialFresh and The Social CMO where she communicates her passion for online marketing and start-ups.

John C. Havens

As the founder of The H(app)athon Project and author of the book, H(app)y- The Value of Well Being in a Digital Economy and Tactical Transparency, John C. Havens is king when it comes to digital strategy and social media. He is also a regular contributing writer for Mashable.

Is There Shame In Communicating Failure?

For quite some years society had us believing that we should feel embarrassed by our mistakes and failures. Instead of facing the facts of failure we were encouraged to fix the problem as soon as possible or apologize to everyone involved. Failure is only embarrassing if one treats it like the end instead of the beginning.

Renee Warren feels that ‘Life, entrepreneurship and relationships are all a trial and error. You have to experiment based on what you know with what is unknown to create or discover something new or better’. When asking Meron Bareket if he thought there is shame is communicating failure he replied:

“I think that one of the major problems and misconceptions that people have with entrepreneurship is that they only hear the overnight success stories. It’s never overnight, the ride is always bumpy and it’s never easy”.

Showing your audience that you have failed in the past and how you will learn from it in order to succeed in the future will add to your sincerity and the transparency of your business ethic respected.

Entrepreneurs’ Approach to Transparency

“There is nothing more inspiring than seeing someone else overcome adversity. Being transparent with my audience forces me to focus on learning from my mistakes and move on, instead of accepting it as the final result” says Meron Bareket.

Through being open with your clients, colleagues and most importantly, yourself that you will create a platform for growth to take place.

The Recipe for Success

Even though there might not be one recipe for success, all three of these successful business leaders have a personal recipe that they believe will lead them thrive in their respective projects and campaigns. Renée Warren says that it’s a mix of focus, hard work and dedication. If you can really understand delayed gratification, then running a business is easier to appreciate. Meron Bareket was kind enough to share a few ingredients of his recipe:

  1. Allow yourself to think in an extraordinary way
  2. Take massive action towards your goals on a daily basis
  3. Have iron strong confidence in who you are.
  4. Surround yourself with the kind of people that you want to become.
  5. Get on the radar of your market leaders and colleagues.

I don’t believe in failures. What most people consider to be failure, I consider delayed success. – Meron Bareket

  The Importance of Communicating Failure

“I improve by learning from others” says John C. Havens. “A lot of learning for me has come from transparency about my actions (including failures) and telling people what I don’t know. Here’s a little business secret; people love to be considered an expert so give them the opportunity by asking them questions about their failures and successes and learn and grow in the process.

All these entrepreneurs reiterate the importance of being transparent when it comes to business communication, and instead of interpreting failure as the end of a project, they view it as merely a stepping stone in the right direction.

Image Courtesy:  StockMonkeys.com

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