Ep. 501: Embracing Failure: The Key Catalyst for Personal Growth and Success

Success and Failure: Two Sides of the Same Coin

What makes successful people different from most others who fail isn’t that they don’t make mistakes—it’s that they’ve learned to fail well.

Failure is the key to success—we hear it said all the time, typically when some well-intentioned but nonetheless unaffected supporter is trying to comfort someone else who’s experienced a setback. Rarely do we take the time to consider our own disappointments as necessary stepping stones toward achievement. But that’s exactly what they are. And if you find that hard to accept, then you may need to change your relationship with failure.

In this Silver Dollar episode of Stay Paid, we emphasize the importance of failure for the life lessons it teaches us and how those same lessons are equally applicable to business. Specifically, failure:

  1. Teaches lessons that success never will.
  2. Fosters resilience.
  3. Encourages creativity.
  4. Promotes self-reflection.
  5. Gives us an opportunity to start over.

Even so, we acknowledge that falling short of a goal can be difficult, so we also provide some advice about how to cope with what is, essentially, part of the human condition.

We hope you enjoy this episode and act on the advice Luke offers at the end. We’d also appreciate it if you took a moment to leave us a 5-star review and comment on Apple Podcasts. (We read them on air!) Thanks for listening!

Connect | Resources

QBQ! The Question Behind the Question: Practicing Personal Accountability in Business and in Life by John G. Miller

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