Failure - Deepstash

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The learning opportunities hiding in our failures

Failure

Failure

Success is sought after by most, while failure is looked down upon, even seen as something shameful.

More than success, it is our failures, errors and rejections that provide us with better learnings, and pathways towards eventual success, if we study them.

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Survivorship Bias

Survivorship bias is a logical error that twists our understanding of the world and leads to a wrong understanding of cause and effect.

We fall into survivorship bias when we assume that success stories tell the entire story of a product/business, while we don't properly consider past failures.

Against the Odds

When we only pay attention to the exception above the normal, we end up misunderstanding reality. While there is much to learn from the anomalies, it would be a mistake to expect the same results from doing the same things. 

Cause and Effect

Survivorship bias leads us to think that coincidence is a correlation. We want the encouragement from survivorship bias so we can believe in our own capabilities, but it results in an inflated idea of how people become successful.

The fact is that success is never guaranteed. It does not mean that we shouldn't try, just that we should have a realistic understanding.

Fear of failure

We are taught from a young age that failure is bad and something to fear. But, failure is an excellent stepping stone to success. 

We never learn to move out of our comfort zone if we don’t overcome our fear of failure.

Failure is temporary

... and failure is good even if it feels really bad when it happens.

 Look for the greater message of the experience and expect it to, eventually, turn out for the good.

Routine failing

It means you are actually active, doing something, moving forward.

We limit ourselves, and we impede our ability to make big things happen when we buy into what society says will work or not work.

We must take a leap, take calculated risks, and be patient for the results. We don’t need to have everything worked out beforehand.

Biases...
Biases...

... specifically cognitive biases, are your unchecked tendencies to make decisions or take actions in an irrational way. 

Instead of making decisions based on facts and data, you are more prone to base your decisions on unconscious errors that lead to a distorted judgment of the world. These biases ultimately affect your relationships, work, and worldview.

Biases = shortcuts for processing information

The brain creates shortcuts in order to make fast decisions when it hits information or inspiration overload

These shortcuts form unconscious biases so it’s easier for your brain to categorize information and make quick judgments over and over again.

Self-serving Bias
It causes you to claim your successes and ignore your failures. 

This means that when something good happens, you take the credit, but when something bad happens, you blame it on external factors.

Self-serving bias may manifest at work when you receive critical feedback. Instead of keeping an open mind, you may put up a defense when your manager or team member is sharing feedback or constructive criticism.