Why It’s Good To Fail So You Can Succeed At Work
Published by Jessica Weisman-Pitts
Posted on September 13, 2021

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Jessica Weisman-Pitts
Posted on September 13, 2021

By Dr Lynda Shaw, neuroscientist, business psychologist and change specialist.

Failure. A word we all dread. Failure can make us feel less competent, confident or intelligent, yet it is inevitable. We have all experienced failure in our lives, and whilst in the short term it can be debilitating, it can also be a springboard to a new learning experience and can sometimes be life changing for the better.
Success and failure are considered opposites, but in fact they work hand in hand. Starting from infancy, we have all encountered failure and success. In order to learn to walk, we have to fall over a couple of times and through persistence, trial and error, we take our first steps and the rest is history. Throughout life we make plenty of mistakes at school, in relationships and throughout our careers, regardless of our experience or intelligence. Failure is part of being human and is impossible to avoid, but how we deal with failure will determine our success and how we grow and prosper. The Beatles, J. K. Rowling and Thomas Edison are all known to have faced repeated rejection or failure before their extraordinary success.
Psychological research suggests that there are key traits to success, including a growth mindset, determination, resilience and psychological flexibility. A growth mindset relates to the belief that you can grow and learn if you work hard enough. It involves tenacity and conceptualises failure as a temporary condition. Determination is a combination of perseverance and passion and chasing goals and not letting setbacks stunt progress. Resilience allows us to have knockbacks but to be able to get back up on our feet and find a way through the difficulties by being positive and using our strengths. Psychological flexibility is the ability to adapt to change using creativity and the ability to problem solve. All of these traits allow people to harness failure as a tool, enabling them to become more successful as a result.
So what should we do after we fail at something?