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But that wealth wasnt built overnight.
There were certainly some setbacks along the way, especially in the early stages.
Amazon now promotes a fail fast, fail often culture.
According to Bezos, failure is an essential part of success.
GoBankingRates spoke to some experts aboutfailing in businesscan be more helpful than you think.
Naive business owners may hope things magically get better over time.
But seasoned pros know they dont.
But this is typically a mistake especially in business.
Other people dont possess the same knowledge, experience or points of reference that you do.
These businesses ultimately recovered by refining the logistics of the processes involved, finding better suppliers and automating systems.
Nate Banks, CEO ofCrazy Compressionsaid it best: Failure is a crash course in reality.
In other words, failure is the most efficient way to learn what not to do next time.
In April 2021, I made $0 in my business.
Instead of giving up, I became the best comeback story, she said.
Musumeci returned to basics to figure out what was and wasnt working.
It strengthened her wallet and resolve, making her the entrepreneur she is today.
Now a successful entrepreneur, she doesnt believe in failure.
Arnof-Fenn had a successful career working in marketing for a large corporation when she lost her job in 2001.
Once she had nothing to lose, she suddenly had everything to gain.
Arnof-Fenn decided to start her own company and now refers to herself as the accidental entrepreneur.
Not getting what you want can lead you to magical outcomes.
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