10 Simple Steps to Benefit from Failure and Turn It into Success 311

The Top 10 Common Rules of Success Among Entrepreneurs

Failure is simply the opportunity to begin again, this time more intelligently. – Henry Ford

You seem to be doing everything right but somehow you always fail. That makes you have a negative opinion about yourself, lose hope and lack motivation to persevere.

But you know what? Everyone fails. With one exception – those who don’t try at all.

So if you have got to that point, you’ve obviously done something. This itself is a great start and once you’ve started, it’s not so difficult to continue.

Every successful person has failed somewhere on the road.

Inventors had tried many times before they created something that actually worked and helped people – the TV set and the computer weren’t invented from scratch. Great writers didn’t get famous with their first book. Instead, they spent many years of working hard, trying to make their work perfect so that it can touch the reader in a special way.

Every great thing we have today started from a simple idea, and the idea was a result of a try, which – of course – was followed by many others.

Okay, you know all that. But still failed. The big question here is what to do next.

How to Benefit from Failure

1.  Accept it.

What’s done is done. You can only accept the past. Don’t think about it over and over again. There is no point in worrying about something that cannot be changed. Instead, use your energy to affect the future by acting consciously and reasonably.

2. Learn from it.

The best thing to do is to draw a lesson from what happened so that you can make it better next time.

3. Analyze it.  

Discuss the situation with family or friends. They can give you the support and explanation you need.

But you will also have to think it over by yourself. Try to answer the following questions as honestly as you can. Write them down if you want.

  • Did you believe in yourself?
  • Did you hesitate long before you tried?
  • At which moment did you feel doubt or fear of failure?
  • Were there other people involved that affected the situation?
  • Were you motivated enough?
  • Did you have the right information?
  • Did you use it correctly?
  • Was that goal relevant and achievable?
  • Did you plan what to do?
  • Did you follow the plan?
  • Were there any setbacks you could have foreseen?
  • What exactly did you expect to happen?
  • What other factors had an influence on your behavior?

Now look at the answers and try to draw a conclusion from your overall performance. Maybe you need to rewrite your goals and steps.  Consider all disadvantages, because if you didn’t succeed there was obviously something wrong.

4. Be grateful.

Take it as a gift. Appreciation will make you feel so much better.

5. Prepare.  

This time you will be prepared. Use the information from the analysis and try not to repeat any of the things that in your opinion led to failure.

6. Don’t lose enthusiasm.  

Be even more enthusiastic this time.

7. Benefit from it.   

Look on the bright side and admire all your willpower, desire to succeed and perseverance. Now you are stronger, smarter, better prepared, more experienced and even more motivated.

8. Work harder.  

Do everything possible because if you are really determined to do it, then it must be pretty important to you.

 9. Set your mind to it.  

Before you become successful in reality, you need to do it in your mind. So think about success, accept it as an inevitable part of your journey and be ready for it.

10. Just do it.

Do it again. Do it now. Do it better. Do it right and finish what you’ve started.

Don’t doubt your ability to achieve your goals. You were meant to be great and have all the physical and mental tools to become so. Keep your head up! Remember that there were many others like you who were once insecure and felt hopeless but after trying again and again they became professionals in their field – those are the people we use as role models today.

It is said that if you make just one person believe in you, you can make many others too. And then you can get what you want.

I believe in you!

Wherever you live, whoever you are, whatever you’ve done, I believe that you can change for the better, benefit from failure, improve and become a successful person who will someday help others go after their goals.

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What the Richest People in the World Have in Common 4

What the Richest People in the World Have in Common

Getting rich is something everyone dreams about.

For those facing financial hardships, getting rich seems the only way out to tide over shortage of money. For the bourgeoisie – the working class – getting rich conjures up visions of stuff they want to buy for luxury or higher social status. Millionaires also wish to get rich: they want to become billionaires and enter Forbes List of the world’s wealthiest people.

Unless you inherit a fortune or get lucky at lottery or sweepstakes, getting rich can be quite tough.

Yet, there are countless rags-to-riches stories around the world. Enterprises such as Amazon, KFC, Facebook or SpaceX have become runaway successes within a short span. The reason: their founders have several things in common, which is rare among other people.

Here we look at various traits that the world’s richest and most successful entrepreneurs have in common.

The Common Traits of The World’s Richest People

The Common Traits of The World's Richest People

1. Serving People.

“If your only goal is to become rich, you will never achieve it,” said John D. Rockefeller, who laid the foundation stone for America’s giant petroleum industry and his own enterprise, Standard Oil. The same adage holds good today.

Facebook, for example, was launched by Mark Zuckerberg and his roommate, Eduardo Saverin to allow Harvard University students to share profiles and pictures

There are countless such examples of ordinary people striking rich. However, they share one thing in common: serving people. The main objective of launching these enterprises was to make life easier or enjoyable for people rather than earning money.

2. Reading Books.

Microsoft founder Bill Gates, celebrity TV show host Oprah Winfrey, SpaceX and Tesla CEO Elon Musk, Berkshire-Hathaway CEO Warren Buffet and several other extremely rich people of the world have one more thing in common: they are avid readers.

Bill Gates reads at least 50 books every year – an average of nearly four and a half books per month.

Elon Musk owes his success at SpaceX, the project to open space tourism to his love for books and the knowledge he gained from them about rocketry. Oprah Winfrey attributes her success to dozens of books, including some 70 top titles she read on her way to success while Warren Buffet spends about 80 percent of his day reading books.

3. Long-Term Financial Strategies.

A report by CNBC states, all wealthy people depend upon long-term financial strategies rather than short-term gains. They utilized their earnings and savings to invest in safe stocks that would assure gains in the long run rather than indulging in risky trading that can offer high returns.

Such financial planning and decisions ensured they do not lose money. Further, they invested money in their enterprises without the hope of immediate returns.

These wealthy people first focused on building a brand, offering value for people to identify with the brand. And later, popularize the brand through word-of-mouth publicity, which is more effective than traditional advertising.

4. Never Say Die.

Yet another common character trait shared by the world’s richest people is, they are not quitters.

Like every other human on Earth, these wealthy folks also witnessed ups and downs in life. Some of these were so overwhelming most ordinary people would have called it quits and gone in search of easier ventures.

Brian Chesky, Joe Gebbia and Nathan Bleckharczyk, founders of Airbnb, the world’s largest hotels and accommodations aggregator were plagued with financial problems.

 

Heavily encumbered with debts, bankruptcy was staring at these entrepreneurs in the very eye. Yet, they did not budge. They innovated their service that made Airbnb the world leader in its field today.

Another excellent example is Colonel Harland Sanders, whose recipe for fried chicken was rejected as many as 1,009 times before it was accepted. Col. Sanders is the founder of global chain Kentucky Fried Chicken or KFC.

5. Accepting Criticism.

Most people flee from criticism of any sort. Rather than learning from negative comments arising out of their behavior or work, they take umbrage rather quickly. Yet, they do not bother to amend their behavior or work pattern.

All wealthy people, however, are different. They are willing to be criticized for introducing new ideas or thoughts.

Jeff Bezos, founder of Amazon, rightly says that those who will try and do something new must be willing to draw criticism.

Steve Jobs, founder, Apple, Inc. puts it in even stronger words: “If you want to make everyone happy, do not become a leader; sell ice cream instead.”

The success of Amazon and Apple proves their founders were right when it came to accepting criticism.

6. Out of The Box Thinking.

how regular life looks like and why it won't make you happy

Thinking outside of the ‘box’ or a typical mindset is often impossible for most people. Understandably, because everyone draws their mindset from factors and circumstances they are raised and educated in.

This mindset eventually becomes a formidable fetter for anyone wanting to become an entrepreneur. Generally, most people follow the flock and take professions they falsely believe as best suited for their skills. Others try to follow footsteps of their parents.

The wealthiest people in the world never followed flock or took lucrative professions of their parents.

Mark Zuckerberg’s father was a dentist and mom – a psychiatrist. Bill Gates’ dad was a banker father while his mother was a lawyer.

Despite coming from wealthy families, they chose to follow their passion rather than confine their thinking to the proverbial boxed mindset. Col. Sanders had lost his parents at a young age of six years and had to shoulder responsibilities of his siblings.

Other Examples of What The Wealthiest People Have in Common

As we can see, these qualities or personality traits are common to the world’s richest people. It sets them apart from others. Most of them launched small enterprises with the sole purpose of bettering the lives of people. Their products or services gained popularity because money was never their consideration. Widespread use of their technology, products, and services eventually led them to become wealthy.

These traits are not typical to the US or the western world, as one may mistakenly come to believe. A glance at some richest people in India and elsewhere also reveals, they share the same characteristics with their American counterparts. This amply proves that richest people around the world share something in common, regardless of where they live and flourish.

Another common trait that all rich people share in common is philanthropy.

Since childhood, they believe in giving back to the society and helping the underprivileged. They practiced charity when they were not so rich and continue to donate money for the betterment of the society even after becoming billionaires.

These richest people on the planet never waited to become wealthy. Instead, they were philanthropists since childhood – a trait most other people pathetically lack or try to foist upon themselves to gain popularity.

In Conclusion

It is not easy to become wealthy. Or everyone would become a millionaire. People who do make it to the top have a different way of thinking combined with an undying zest for learning new things and educating themselves.

They do not consider conventional learning at universities as the end of their education. Instead, they try and acquire new skills every day and find ways and means to become better humans rather than focusing on fattening their purses.

The world’s wealthiest people also share one common trait: they are not people pleasers, despite their generosity and willingness to serve the society. Because they know, trying to please everyone will get them nowhere and could mean possible failure.