Failure as Fuel: Why Setbacks Can Be the Secret to Success
Failure is a catalyst for success.
Read that again.
Yes, a setback can be humbling, upsetting, and sometimes even life-altering, but to fail is to succeed because it means you tried.
In my early days of senior leadership, I was in charge of the team responsible for one of the most heavily trafficked financial websites in the world. About six months into my role (and a few minor hiccups, including a picture of a coworker in a cosplay costume going live on the website for a brief moment), we were gearing up to launch a significant relaunch of the website.
And it was garbage.
The entire website crashed every two to three hours, particularly when there was a high volume of traffic—exactly when our customers most needed to check market data, the website would crash.
A complete and utter failure.
This went on for three days, and I remember being on the phone late into the evening with our CTO and COO, discussing how we were going to fix this problem, but also how my team and I did not catch the problem. The only answer I could give them was that we did not do adequate testing and that we had failed. I can still remember the pause that our COO took and then simply said, “That’s disappointing.”
I could have given up in that moment. It was a hit to my ego, my leadership, and my entire team. But the thing is, he was right. He was testing me to see if I would dust myself off, learn from my mistakes, and try again. His message said: I’m disappointed because I know what you’re capable of. That experience was an invaluable part of my leadership evolution and my perspective on setbacks. I learned a lot from that failure—it taught me more than any successful project or launch ever has.
Acknowledging our failures is not only important but imperative for growth. Having the confidence to get back up and correct the problem is integral to all aspects of life because ultimately, wisdom doesn’t come from just reading books—sometimes you’ve got to skin your knee, get up, and try again.
In fact, I have rarely met a successful entrepreneur who has not had three to four failed ideas or attempts. Look at Elon Musk and SpaceX and how many rocket failures they have had. At one point, they were down to their last nickel!
Failure is part of the success journey, and it has been very interesting to witness how many investors and peers respect it. They all understand that the education and emotional fortitude that failure can nurture are a much safer bet than some wunderkind who has never had to get back up with a bruised ego and try again.
But HOW do you get back up?
First, understanding failure is critical. If my anecdotes don’t convince you, perhaps maybe one of the greatest athletes of all time will:
You can and will fail, but it’s what you do with that failure that will determine your success.
This leads me to my second piece of advice: always find the lesson in your setback. One of my executive coaches, Colleen Bowler [tag], calls mistakes “missed takes.” When you frame your mind around the idea that there is a learning that you can improve upon, then it was not a failure—rather, it was a success that didn’t quite reach the finish line.
Building resilience through believing in yourself and your mission is crucial for success. Like many things, you have to have confidence in yourself. If you have unwavering dedication and a belief in what you’re doing, you become immune to the negativity of failure.
This means reframing your mindset around failure and building up the tools that help you remain positive and in a creative problem-solving flow. I would also say it is important not to dwell on potential failures—they are inevitable. There is a difference between anticipating challenges and anticipating failure, and much of it has to do with your mindset.
As long as you steadfastly believe that what you’re doing is right, you’ll stay passionate and continue to move forward. Failure is never final unless you decide it is.
Remember: a winner is just a loser who tried one more time.