Steph Korey, a Renowned Investor and Entrepreneur’s Take on Accepting Failure

Accomplishing extraordinary business triumph needs a venture to have a unique mindset. An establishment can make remarkable product improvements or devise some exclusive marketing efforts. However, embracing failure shines some light on an alternative paradigm shift. Steph Korey, a distinguished investor, and an entrepreneur explains that all business owners must admit that accepting failure comes with many benefits.

 

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Logically, it may sound awkward and questionable suggesting an investor should accept shortcomings and failures. Many entrepreneurial coaches believe that the reverse tactic of developing failure avoidance plans works. Nevertheless, Steph Korey perceives failure through a different lens, and she offers some reasons enterprises must embrace shortcomings at all growth stages.

After an investor fails, team members can get a chance to assess the shortcoming and develop some better future decisions. Every person’s perspective matters and divergent opinions can trigger some constructive solutions. Korey insists on the need of gaining dissenting opinions on important business concerns

Steph Korey appreciates that no one knows everything; thus, everyone’s perspective is needed and considerable because they challenge the assumptions and inform the general gut feeling accordingly. Also, the business will enjoy informed decisions as soon as everyone is empowered and willing to table their views. Steph Korey adds that this strategy works for all companies regardless of size.

Steph believes that failure can spark more success because it takes an establishment to another level to improve its negotiation position. Steph retaliates that businesses that appear succeed when experiencing a few failures might not be maximizing their capacity or taking advanced risks.

Companies should challenge themselves to go for the bigger rewards even if they come with more risks. Certain failure occurrences can be mitigated by addressing each instance at a time. Steph Korey admits that this strategy could be troublesome, but it could develop a perfect business culture.