Failing Forward summary

While we largely assume failure can only lead to negative outcomes, the opposite is often true. Many chance discoveries and new opportunities have emerged from failures. This was certainly the case for legendary inventor Thomas Edison.

Edison worked for years to improve the telegraph machine, with little success. But along the way, he discovered something else entirely. By making certain adjustments to his failed telegraph machines, he was able to record sound that could be played back again and again.

Most of the time, failures occur as a result of factors that we can’t control. When that happens, we don’t need to blame ourselves, we just need to take responsibility for finding new solutions.

The author recounts the story of his friend, Greg Horn, whose supermarket was destroyed in the 1997 Kentucky floods. Ironically, Horn was insured for almost every type of damage and theft – except flood damage.

Could you imagine starting a new project and aiming to fail? Probably not; most of us prefer to avoid making mistakes. And yet, failure always has the potential to create instructive, even inspiring, learning experiences.

The power of embracing failure is illustrated poignantly in an anecdote from David Bayles and Ted Orland’s 1993 book Art and Fear: a ceramics teacher divides her class in two and tells one half that they’ll be graded on the quantity of art they make, and so should make as many pieces as they can. The other half are told to focus on creating one piece, the quality of which will determine their grade.

When you drive across town, how often do you catch only green lights? Probably never, but that’s alright – it’s just a part of driving. How might life be if we saw our failures as red lights? They might stop us temporarily, but they aren’t a reason to give up on our destination.

Failure can feel very discouraging, but this doesn’t have to be the case. Fear of failure is debilitating and can damage our chances of achieving success, so it’s crucial that we fight it at every opportunity.

Learning to embrace and overcome failure opens up new opportunities for success. But to be able to use these opportunities, you’ll need to practice three things: goal-setting, people skills and a positive mindset.

American writer Don Marquis noted that while most people don’t truly know what they want, they’re still willing to sweat blood to get it. The trick to success is channeling this desire for change into well-defined objectives. So, rather than simply complaining that you’re tired of working, set goals that’ll allow you to create a better lifestyle. For example, you could invest in property to create a passive income that’ll allow you to retire sooner.