Total Wealth Management
CALL NOW (07) 3281 1226
  • Our Team
  • Services
    • Retirement Planning
    • Centrelink Maximisation Strategies
    • Retirement & Superannuation Planning
    • Personal Insurance Advisers
    • Tax Planning & Strategies
    • Debt Recycling
    • Lifestyle Expense Planning
    • Wills & Estate Planning
  • Process
  • Contact
  • Facebook
Phone: (07) 3281 1226
Total Wealth Management
  • Home
  • About
    • Meet the Team
    • Testimonial
    • Our Advice Process
    • Fees & Charges
  • Services
    • Investing
      • Wealth Accumulation & Management
    • Insurance
      • Personal Insurance Advice
    • Tax Planning & Strategies
    • Loan & Debt Reduction
    • Retirement
      • Retirement Planning
      • Superannuation Advice
      • Centrelink Financial Advice
      • Wills & Estate Planning
      • Lifestyle Expense Planning
  • Knowledge Centre
    • Blog
    • Life Stages
      • Young Independents
      • Retirement Planning
      • Young Families
      • Mature Families
      • Pre-Retirees
      • Retirees
      • Twilight Years
    • FAQ
    • General Finance Calculators
    • Useful Links
    • Free Reports
  • Contact Us
  • Search
Total Wealth Management > Archived > Using failure to fuel your future success

Using failure to fuel your future success

June 25, 2018/0 Comments/in Archived /by Digilari

Looking out across an Atlantic beach.

To help us grow, sometimes we have to overcome our fear of failing – with this mind, here’s some ways you can use past failures to fuel your future success.

Almost everyone is afraid of failure, even if many of us know it’s an unavoidable feature of eventual success. The list of people who have achieved incredible things despite experiencing disasters is long.

The more famous examples include Steve Jobs (the Apple board once ousted him from his own company), J.K Rowling (multiple publishers rejected her Harry Potter pitch), and Jeff Bezos (he ran a dud online auction site before starting Amazon).

But those are big names – how does failure fit into a less high profile career?

Don’t be afraid of failure

Bri Hayllar, a psychologist and business coach at the Centre for Corporate Health in Sydney, says it’s worthwhile understanding that failure is possible and acceptable “because often the alternative is doing nothing”.

That being said, not every culture treats failure the same way. The United States has a deserved reputation for entrepreneurial success – and for tolerating failure. The theory goes that unless you have failed at least once, you probably have not tried hard enough.

In Australia, by contrast, failure is sometimes seen as a career killer – and this fear of crashing and burning can stifle innovation. So here are some tips to help overcome that fear.

Get in the right frame of mind

Hayllar says when people are in a very negative emotional state, it alters their cognitive processes – in a bad way. They shut down. On the other hand, those with a positive emotional state are more aware and more open to information, which in turn increases their creativity, problem-solving and decision-making skills.

“If we go into a job or a role thinking ‘I must protect myself, I must avoid risk, I mustn’t fail’ then we’re in that threat-negative space which is counterproductive to success.”

 

In Australia, failure is sometimes seen as a career killer – and this fear of crashing and burning can stifle innovation.

 

Learn from your setbacks

Of course, continual failure is not desirable. The key is to process errors and improve. Bill Gates and Paul Allen will forever be known as the creators of Microsoft.

They are less well known for Traf-O-Data, a failed attempt at using computerised data to improve traffic surveys for municipal governments. Their time on the project was not wasted, though; it taught them the skills to simulate how microprocessors work, a key element of Microsoft’s success.

As part of their learning process, Hayllar says people should be conscious of their statements. Avoid the temptation to say “I’m hopeless and I’ve failed”, and instead say “This project didn’t work, but what can I learn from it?”

Try and try again

Legend has it that Thomas Edison discarded thousands of prototypes before perfecting his light bulb.
Such resilience is a common story with successful people. Hayllar is a firm believer that effort, grit and determination trump intelligence. “For instance, we often see that really determined students will achieve more than the intelligent kids who don’t put in the effort.”

Just as artists don’t expect their first painting to be a masterpiece, we all need to appreciate that perseverance is required to achieve true success.

“You’ve got to have that grit to try again and keep doing things,” Hayllar says.

 

SOURCE: https://www3.colonialfirststate.com.au/personal/guidance/lifestyle/using-failure-to-fuel-your-future-success.html

Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on Google+
  • Share on Pinterest
  • Share on Linkedin
  • Share on Tumblr
  • Share on Vk
  • Share on Reddit
  • Share by Mail
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Like to know more…

Enter your details and we will contact you with in 24 hours

    Want to learn more?

    Come in for a chat!

    Get in touch for your FREE no-obligation consultation. Appointments available during business hours or after hours by appointment.

    Get In Touch

    Financial Advice Services

    Pre-retirement and Retirement Planning

    Centrelink Maximisation Strategies

    Superannuation Fund and Strategy Advice

    Self Managed Superannuation Funds

    Personal Risk Insurance

    Wealth Accumulation

    Tax Minimisation and Tax Planning

    Debt Management

    Lifestyle Expense Planning

    Estate Planning

    Useful Links

    Meet the Team

    Our Advice process

    Fees & Charges

    Blogs

    Financial Calculators

    Financial Services Guide

    Privacy Policy

    Terms & Conditions

    General Advice Warning

    Opening Hours

    Appointments available outside these times by prior arrangement.

    Monday 9am - 5pm
    Tuesday 9am - 5pm
    Wednesday 9am - 5pm
    Thursday 9am - 5pm
    Friday 9am - 4pm
    Saturday Closed
    Sunday Closed

    Our Office

    11 Lawrence St, North Ipswich QLD 4305

    Contact Us

    Phone: (07) 3281 1226
    Email: twm@totalwealth.com.au
    Fax: (07) 3282 9900

    Postal address

    PO Box 2648, North Ipswich QLD 4305

    Enquire online

    LFG Financial Services
    Total Wealth Management is an authorised representative of LFG Financial Services
    © Copyright Total Wealth Management Pty Ltd ALL RIGHTS RESERVED. | Design by SG to 'By Digilari'
    • Financial Services Guide
    • Complaints Policy
    • Privacy Policy
    • Terms & Conditions
    • General Advice Warning
    Trade war risks are escalating – but a negotiated solution remains most l... All set for the new financial year?
    Scroll to top