Dealing With Startup Risk: Remember That Failure Has an Upside


One of the things people fear most is failure. It keeps plenty of people from pursuing their dreams of entrepreneurship because they don't know how they will deal with losing it all and starting over. A recent article in Psychology Today reminds us though, that failure isn't that bad. It has been called the "hidden side of happiness," because a rich and happy life usually includes some adversity.

Those who weather adversity well are living proof of one of the paradoxes of happiness: We need more than pleasure to live the best possible life. Our contemporary quest for happiness has shriveled to a hunt for bliss-a life protected from bad feelings, free from pain and confusion.

Failure is improperly stigmatized by some people in the business world. Failure teaches much, and it is a common component in the rich and rewarding business careers of many people I have known. The key is to remember that there are things to be learned from it and that it just a step in the path. Think about that before you take the plunge, and it makes that first step a bit easier.

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