how does business failure pave the way to business success?

Answer 1

Business Failure and the lesson learned? depends why it happen. Also the real term is I learned a lesson, or I learned some thing when I ---? they all mean the same thing. That they lost money. Opps

Answer 2

From the standpoint of the individual entrepreneur, the value in potential lesson's learned is tremendous. If they are objective enough, and wise enough, to learn from the mistakes made that led to the failure, they may well succeed the next time.

Answer 3

Failure teaches you not to be scared of trying it also teaches you what doesnt work The founder of macy's dept store failed several times as well did Dave Thomas of wendy's before become successful. if you learn what doesnt work along with what does work you are better of than those who get lucky in business. falure makes you stonger more detemined and mindful of what you want for your self and you business simply put if you are scared of failure then you are scared of success

Answer 4

That way you understand better How to avoid repeated failures and eventually get success. But this is applicable to those people only who take lessons from their failures and take them seriously enough to get succeed.

Answer 5

Not all businesses will create value to the economy. Weeding bad businesses out of the market help good businesses motivated to be efficient. This will in turn lead to profitability.

Answer 6

DETERMINATION. GRIT. I JUST LEARNED YESTERDAY THAT COL. SANDERS WAS A FAILURE ALL HIS LIFE UNTIL HE WAS IN HIS 60'S, WHEN HE CAME UP WITH THE "KENTUCKY FRIED CHICKEN" CHAINS.

WHAT ELSE COULD IT BE? IT TELLS ME, THET THERE IS NOTHING WRONG WITH HAVING, AND LIVING ON HOPE!! PRAYING UNTIL SOMETHING BREAKS!

Answer 7

You learn from your mistakes