Every successful entrepreneur, investor, and executive has one thing in common: failure. The difference? Some use failure as a launchpad, while others let it define them.
In my book, Achieving Success by Failing More, I share how my most spectacular failures led to my greatest successes. Whether you’re a business owner, an investment fund leader, or a corporate executive, this article will show you how to reframe failure as a steppingstone to success. Let’s look at five simple strategies, relatable stories, and tools to help you accept failure and succeed.
From Cockpit Dreams to Corporate Wins: My Fighter Pilot Failure
When I joined the Indian Air Force Academy (AFA) after graduating from the National Defence Academy (NDA), my dream was to become a fighter pilot. But life had other plans. Despite my best efforts, I didn’t make it to the fighter flying branch. It felt like a crushing failure. I went into a shell, questioning my abilities and future.
But here’s the twist: that failure led me to logistics, a field I hadn’t considered. It opened doors to working in an aircraft repair depot and subsequently with top aircraft design bureaus in Russia on multinational supply chains, eventually transitioning to the corporate world. What had appeared like a dead end became the start of a new journey that I now recognise as the resilience and adaptability we all possess.
Reframing Failure: An Invitation, Not an Obstacle. Failure is not the end; it’s an invitation to improve. In my book, I write, “Failures are stepping-stones to success and an invitation by the universe to improve ourselves.” When I didn’t make it as a fighter pilot, I realised the universe had other plans for me. I excelled as a Logistics Officer.
Change your perspective on failure. Instead of seeing it as a measure of your worth, view it as feedback. It’s an opportunity to pivot, learn, and grow.
How the ‘Let It Go’ mindset drives resilience
One of my biggest takeaways from the National Defence Academy (NDA) was, ironically, the “f#*k it attitude.” After giving your best, let go of the outcome. This doesn’t mean being careless; it means trusting the process. More respectfully, you can call it ‘detaching oneself from the expected results.’.: 😊-
At NDA, we’d run with bicycles over our heads, push our physical limits, and sometimes fail ( to keep the bicycles from falling on our heads 😊. But the attitude was always, “Did I do my best? If yes, the rest is for the Universe to decide”. This mindset helped me bounce back from setbacks in the Air Force or the Corporate world.
Failure is a Redirection, Not a Dead End.
#1 The Failure Journal: Start a Failure Journal to reframe failure. Every time you face a setback, write down:
-What went right, and what could have been better?
-What did you learn?
-How can you improve?
This tool turns failure into a learning opportunity. It’s a practice I’ve used throughout my career, and it’s helped me recover quickly and stay focused.
From Air Force to Corporate World
After my time in the Air Force, I made a significant transition to the corporate world. This shift was not without its challenges. I began with a month-long ERP Course on the SAP R/3 version, investing 20% of my Provident Fund from my 14 years in the Air Force. Many of my friends and family thought I was taking a considerable risk. However, this investment in myself paid off. I secured ERP consulting projects for the materials management and warehouse management (MM-WM) modules, trained others, landed a job in a top-tier E-Business and IT Consulting Firm, and eventually built and grew large-scale logistics service businesses at Reliance and Maersk.
Smart Failure: The Best Investment You’ll Ever Make. Failure often forces us to reevaluate our path. When I left the Air Force, I knew I had to upskill to leverage my aerospace and defence supply chain knowledge and experience. I invested in learning SAP, a decision that transformed my career. As I write in my book, ‘When you take the courage to build yourself up, you become more resourceful.’
Investing in yourself is the best way to turn failure into opportunity. Never stop learning, whether it’s a new skill, a certification, or a mentorship program. Continuous learning is essential for success.
Detach from Outcomes — Trust the Process.
#2 The 100:10:3:1 Rule: In my book, I share the 100:10:3:1 Rule for decision-making. Here’s how it works:
-Explore 100 options.
-Shortlist 10.
-Make three offers.
-Close one deal.
Through several career transitions, consulting, hiring, and investment decisions, I learned that this rule applies and works even for personal growth. It’s a structured way to navigate uncertainty and make informed decisions.
Investing in Yourself is the Safest Bet in Any Economy.
# 3 The Learning Loop : Create a Learning Loop for every failure:
-Reflect: What went wrong?
-Learn: What can you improve?
-Apply: How will you do better next time?
This loop ensures continuous growth. It’s a framework I’ve used to turn setbacks into stepping stones, even as some decisions go wrong, as they sometimes will.
Building a Logistics Services Business
At Reliance, I faced another “failure.” I had to transition to the logistics business after successfully setting up pilot truck stops in collaboration with a leading US highway hospitality provider. At first, it felt like a step back. But I embraced the challenge, led the selection and implementation of a company-wide ERP, built a warehousing and distribution network of over 100 leased warehouses and 3000 employees and contractors, and grew revenues to $20 million.
Embrace the Pivot
Failure often forces us to pivot. In my book, I write, “When things don’t work out as expected, think that the universe is inviting you to improve your game.”
Pivoting isn’t about giving up but finding a new path to success. Whether it’s a career change or a business shift, embrace the pivot.
#4 The Pivot Framework: Use this Pivot Framework to navigate career or business transitions:
-Assess: What’s working and what’s not?
-Explore: What are your options and their impact?
-Commit: What’s your next move?
This framework has helped me and my mentees navigate uncertainty and find new opportunities.
Mentoring and Investing in Startups
In my entrepreneurial journey, I’ve mentored and invested own funds in startups directly and through incubators and accelerators. I emphasise a key lesson: “Fail early and fail often to succeed sooner.”
Failure is an inevitable and invaluable part of the startup journey. Startups that see failure as feedback often succeed more quickly, as early setbacks provide critical learning opportunities to refine business models and understand customer needs. This approach aligns with the lean startup methodology, emphasising rapid testing and iteration.
Failure breeds innovation. It forces us to think creatively and find new solutions.
Innovative startups fail in controlled ways, minimising risks while maximising insights. They don’t just fail; they fail forward, using missteps as stepping stones for growth.
In my book, I share how startups like Maritime World Services and Logistica Innovations faced failure. Some pivoted, adapted, and eventually thrived. The ones that did not eventually faded away.
The Best Founders Fail Early, Learn Faster.
#5: The MVP Approach: The Minimum Viable Product (MVP) approach is key for startups and businesses. Test your ideas quickly, fail fast, and iterate. This approach minimises risk and maximises learning.
The Innovation Canvas: Use an Innovation Canvas to map ideas, test assumptions, and learn from failure. This tool helps you stay agile and innovative.
Embrace the possibility of failure. In your journey — whether you’re changing careers, launching a business, or leading a team — failure is not just a possibility; it’s an influential teacher. Transform setbacks into stepping stones by viewing failure as feedback, welcoming change, and nurturing a growth mindset.
Your greatest success is often just one failure away.
Actionable Suggestions
#1 Start a Failure Journal to document and learn from setbacks.
#2 Use the 100:10:3:1 Rule to make informed decisions.
#3 Create a Learning Loop to reflect, learn, and apply.
#4 Embrace the Pivot Framework to navigate transitions.
#5 Adopt the MVP Approach to test ideas and innovate.
By following these strategies, you’ll survive failure and thrive because of it.
What failure are you reframing today? Your next success is waiting on the other side of failure. Are you ready to leap?
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I write about leadership, technology, and startups and offer actionable advice for business owners during transitions. You can also connect with me on LinkedIn.