Importance of Failing

* I recently signed up for Help a Reporter Out and have been getting some very thought provoking queries in my inbox from various reporters. I wanted to share this bit I submitted recently that didn’t get picked up but no sense in letting it go to waste. The question was:
Why Is It Important To Fail?

And here you have it…

As a new business owner, I’ve made countless mistakes that have cost me a great deal of time and money. I’ve faulted so many times in the manufacturing process, trying to have my swimwear made overseas in China, locally when I lived in Maine, virtually across the country, and finally moved to LA to do it the right way, but not before hiring a project manager that caused me to lose a lot of time and money and even trade secrets.

Yet after all of this, I could write a book on all of the things that I learned – what NOT to do – and that’s just one area of building my fashion business.

I’m now mentoring a student from University of New Hampshire where I attended business school and am teaching her everything that I’ve learned, just as I’ve learned from mentors ahead of me who have experienced failure and been so gracious to share their experience.

With all of the information available out there, it’s so valuable to learn from others’ personal experience and perhaps even more important to pass what you learn down to others. I’m a huge believer in the law of attraction and the law of reciprocity. Failure is a strong term with negative connotation but not everything will work out in business, and we will all experience disappointment at some point. All we can do is learn from it, become wiser, and share this knowledge.

I’m working on a book to cut down others’ learning curve when it comes to starting a fashion business, and including lessons I’ve also taken from personal development. I’m naturally a motivator, and love hearing that I’ve sparked something in a person to be better and do more.

We are all meant to live the life of our dreams, and can’t let failure keep us from achieving this, no matter if it’s big or small. I’m amazed when I hear success stories of people who have gone from being flat broke to multi millionaires. These are extreme circumstances, but let’s learn from these examples, and strive to be the best we can.

When a friend or colleague is going through a difficult time having experienced some sort of failure, the only words of wisdom I give is that it will be another chapter in their book.