I've failed in my startup ventures till date.. I've tried more than a couple of times and have had to close down the ventures within 1-3 years from inception. I've lost money, confidence and respect towards me from my friends & family. I stand here today reflecting on what I've done. All looked bleak initially. But then, on analyzing further, I feel now that I have taken a lot from each of my ventures (which I will individually detail in other posts).
Failure has taught me things right from the importance of a business plan, team building, building a robust business model, having concrete estimates and expectations, having good mentors & advisers in your journey and so on. Probably, if I had to succeed in my first venture, a lot of this learning would not have come to me in as detail as it has.
So, failure is not bad at all. It's important to try and if you fail, just make sure you take back as much learning as possible. Repeating a mistake and failing a second time because of it is stupidity and a complete waste of time.
Failure has taught me things right from the importance of a business plan, team building, building a robust business model, having concrete estimates and expectations, having good mentors & advisers in your journey and so on. Probably, if I had to succeed in my first venture, a lot of this learning would not have come to me in as detail as it has.
So, failure is not bad at all. It's important to try and if you fail, just make sure you take back as much learning as possible. Repeating a mistake and failing a second time because of it is stupidity and a complete waste of time.
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