3 Ways to Turn Failures Into Opportunities

When it comes to business, the public always loves the winner and always gravitates towards their stories of success. However, not everyone knows or at least accepts that in fact, the act of winning is born out of a series of losses.

Losing is part and parcel of success because it trains a person to think and be ready for things that are out of their control. It also makes a person become more opportunity-driven, wherein they are able to see light and the source of it even amidst darkness.

And like a muscle, thinking in terms of opportunity is something that people should be able to harness and prepare for on a daily basis. Here are some ways to make every failure an opportunity:

1. Ask yourself one question.

And that is: “What is the worst thing that could have happened?”

In many ways, failure makes any person wallow in self-doubt. But constantly second guessing yourself only makes things worse. And often times, during the worst of times, people think that they’ve hit rock bottom. This question instantly re-frames the situation. It helps a person assess the situation for what it is. And also leaves room for positive thinking – and positive mindset always sets the tone for creative thinking.

2. Use it as a springboard for innovation.

The best lesson that a failed product can provide is the space for improvement which leads to innovation. For example, when it comes to product such as a dish in a restaurant, let’s say a salad that did not go as well as expected in the market – could it be that the consumer does not have time to sit and eat? Are they on the lookout for something that’s more on the go in nature? Then having it in a wrap or handheld form maybe necessary. A failed product provides the chance to look at something but with a different set of eyes.

3. Let it give you the insight.

Failures are only as good as what they teach you and as they say, success is rarely a good teacher. The only way for failure to turn into an opportunity is to mine it for insight. What does this failure teach you? That just might be the very step to your sustainable success.

See how these 11 people who have turned their failures into success:

Allan Koglmeier

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