Why You Should Welcome the F Word, Failure

Failure, I said it, pardon my French. Failure is avoided as much by professionals as by mothers trying to censor the other F word from their toddlers. Why is everyone so afraid of failure? Well, everyone wants to be successful and as defined by Google, failure is the lack of success. Instead of being the lack of success, failure can be the catalyst to success and provide the benefits below.

• Rest: Failure is draining. Take a set period of time (a couple hours to a couple weeks depending on the situation) to take a break from the situation and recharge. During this period actively banish failure-related thoughts and negative feelings from your mind.
• Learn from the Mistakes: Review the situation to determine possible causes for the failure. Once causes are identified, focus on actions to prevent these risks in future situations. Shift the effort away from berating yourself over the past and concentrate on future prevention. Lessons learned documentation in project management is a prime example.
• Self-Evaluate: People are busier than ever with increased mobility and connectivity allowing competing demands (school, work, family, etc.) to reach you 24/7. You rarely get a break for introspection. What motivates you? Why do you do the things you do? What are the sources of (dis)satisfaction in your life? Use the situation to think about the path your life is taking and supporting reasons; it may be time for a change.
• Value Success, Deal with Failure: Experiencing failure helps you deal effectively with future failure. Failure can be shocking to those only experiencing success. A friend recently was in a downward spiral of depression due to a work project being axed. Having little to no previous experience with failure she did not know how to deal with the situation and felt lost, unsure, and unconfident. Her learning curve in managing failure was significantly steeper than others with previous experience, and it took several months for her confidence to return.
• Grow Long Term: Life is full of success and failure; each shapes your life and helps you grow. Living a balanced life is important and for balance to exist there must be both failure and success. Being forward thinking in your approach to failure will promote development both in the present and the future.

These benefits do not mean you should actively pursue failure, but when you experience failure (we all do!) regard it as a positive opportunity instead of a negative consequence. Of course you may need a happy hour outing with coworkers or couch potato time to get over the initial disappointment, but afterwards take advantage of the situation and focus on reaping the benefits of failure. After not being  selected for a position I was upset, but after initial moping (lots of fried foods and sweets) I realized I was missing key qualifications and went back to school for my MBA. Following my MBA, I was well positioned and promoted when the opportunity occurred in my department.

Disclaimer: The views and opinions expressed are those of the blogger and are not necessarily those of the Federal Reserve Bank of Dallas or the Federal Reserve System.