You Will Fail…and That’s a Good Thing (Here’s Why and How to Make the Most of It)

How to Turn Failure into Success: Lessons from Steve Jobs’ Journey

Apr 26, 2023

Hi there,

You probably don’t like to fail. You may see failure as a sign of weakness, incompetence, or bad luck. You may feel ashamed, embarrassed, or discouraged when you fail. You may try to avoid failure at all costs, or give up when you face it.

But here’s the hard truth: you will fail.

That’s right. You will fail at some point in your life, whether it’s in your personal or professional endeavors. You will make mistakes, encounter obstacles, face rejection, or miss opportunities. You will not always get what you want, or achieve what you expect.

But here’s the good news: failure is a good thing.

That’s right. Failure is a good thing if you see it as an opportunity to grow and learn. Failure is a good thing if you use it as feedback, not as judgment. Failure is a good thing if you embrace it, not avoid it.

Don’t take it from me. Take it from one of the most successful entrepreneurs and innovators of all time: Steve Jobs.

Steve Jobs was the co-founder of Apple, who revolutionized the personal computer, music, phone, and tablet industries with his innovative products and design. He was also famous for his visionary leadership and his ability to create a loyal fan base.

But he also experienced many failures in his journey. He was fired from Apple in 1985 after losing a power struggle with the board of directors. He launched NeXT, a computer company that failed to gain traction in the market. He acquired Pixar, an animation studio that struggled to produce a hit movie for years.

However, he also learned from his failures and used them as catalysts for his success. He returned to Apple in 1997 and turned it into one of the most valuable companies in the world. He launched the iMac, iPod, iPhone, and iPad, which became iconic products that changed the way people communicate, work, and play. He transformed Pixar into a powerhouse of animation that produced Toy Story, Finding Nemo, The Incredibles, and many other blockbuster movies. He inspired millions of people with his passion, creativity, and courage.

Here are some of the lessons he learned from his failures:

Failure teaches you what doesn’t work and what needs to be improved. As he said in a 1995 interview: “I’m convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance.”
Failure forces you to think differently and creatively. As he said in his famous 2005 Stanford commencement speech: “The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.”
Failure helps you discover your true passion and purpose. As he said in the same speech: “You’ve got to find what you love…Your work is going to fill a large part of your life…So keep looking until you find it. Don’t settle.”
Failure makes you appreciate your successes more. As he said in a 2007 interview: “Getting fired from Apple was the best thing that could have ever happened to me…It was awful-tasting medicine but I guess the patient needed it.”

These are some of the lessons that Steve Jobs learned from his failures. He used them to grow and learn as an entrepreneur and as a human being.

So what can we learn from Steve Jobs’ journey?

We can learn that failure is inevitable but not fatal. It is part of the process of achieving anything worthwhile. It is not something to be feared or avoided but something to be faced and overcome.
We can learn that failure is valuable but not definitive. It is a source of information and feedback that can help us improve our performance and results. It is not something to be judged or regretted but something to be analyzed and applied.
We can learn that failure is challenging but not limiting. It is an opportunity to think differently and creatively about our problems and solutions. It is not something to be constrained or discouraged by but something to be inspired and motivated by.
We can learn that failure is temporary but not trivial. It is a moment in time that can have lasting effects on our lives and careers. It is not something to be ignored or forgotten but something to be remembered and celebrated.

By doing these things, we can make failure work for us instead.

Do you agree or disagree with this perspective? Do you have any other examples of leaders who embraced failure? Join the conversation!

The Impactful Capitalists

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