Neven Dilkov, the Founder and CEO of Neterra EOOD, shares his insights on the importance of learning to fail well in business. He acknowledges that while winning feels great, it is in failure that growth truly happens. Dilkov emphasizes the importance of analyzing failures to understand what went wrong and how to prevent similar mistakes in the future.
Dilkov shares two valuable lessons in the art of failing well. The first lesson is about accepting that sometimes, failure happens even when all the right decisions were made. Learning to let go of the pressure to control every outcome allowed Dilkov to become a better leader. The second lesson is about future-proofing your business by designing it to withstand failures. This involves not putting all your resources into one bet, taking small steps forward, and not letting fear hold you back from taking well-calculated risks.
Dilkov encourages embracing failure as a learning opportunity rather than letting it bring you down. He shares his personal experience of overcoming failure through engaging in outdoor sports to boost self-esteem and clear his mind. Dilkov believes that failure is a natural part of entrepreneurship and that one should not be discouraged by it. He regards failure as a stepping stone to eventual success, as long as one continues to learn and grow from it.
The importance of perseverance and resilience in the face of failure is highlighted by Dilkov’s advice to a former employee who experienced a failed business venture. He believes that surviving failure and having the courage to try again is a commendable trait in an entrepreneur. Dilkov emphasizes that success is not permanent, and failure is not final, as long as one continues to learn and strive for improvement.
As a member of the Forbes Business Council, Dilkov’s insights on failing well in business provide valuable lessons for entrepreneurs and business leaders. By acknowledging the inevitability of failure and learning from it, individuals can build a more resilient and successful business. Embracing failure as a part of the journey towards success can empower individuals to take calculated risks and grow from their experiences.
