As a business owner, you can find many sources of information on how to succeed. But not many of them tell you that you also need to be prepared to fail. When you run a business, you can often feel like you have something to prove. When you first start out, particularly if it is an unconventional business, there can be people who view your ‘business venture’ as a ‘phase’ or are negative about its potential success. So often there is pressure to always make sure business sound successful.

But there are very few business owners and entrepreneurs who have not failed at some point in the journey, in both big and small ways. Some experts will tell you that it takes several ‘falls’ (including complete business failures) to find success. And if you go into business ownership expecting success at every turn, you might want to shift your expectations!

This is not all doom and gloom! In fact, many experts will tell you that failure is quite possibly a requirement for success. We learn inherently more from ‘what not to do’ and most of us are highly motivated not to make those same mistakes again.

Risk is, of course, relative. That is, when you are 20 years old, single and have no mortgage, the failure of your business is perhaps not as dire as someone with three children and a long list of expenses. But here’s the clincher: every worthwhile thing in business (and life) has risk. The greater the reward, usually, the greater the risk.

So the key is not to dream about success, but to take some calculated risks and take steps to make it happen. And don’t expect that there will only be one risk – your business journey will require continual evaluation, and taking of, risk.

Michelle Grice writes a weekly column for business women in The Western Weekender

“A ship in harbor is safe - but that is not what ships are built for.” This quote by John A. Shedd is so interesting for women in business. Most of us spend a great deal of time in our personal lives protecting and keeping safe those around us. So sometimes our instinct in business can be the same: to avoid risk and keep our business ‘safe’.

Occupational and hazardous risks aside, taking risk and moving outside the ‘safe zone’ is something that every highly successful business has done. Read the biographies of any entrepreneur or industry leader, such as Richard Branson or Steve Jobs, and you will see numerous examples of pushing themselves and their companies into ‘risky’ situations.

This is not to say that all their risks paid off: in fact many of them didn’t! And I am also not suggesting that we all need to follow the extreme examples of Branson and Co. in our own businesses.

But as this quote suggests, as a business owner, you have a particular set of skills. You likely started your business because you dared to dream that you could be a success. If you are being ‘safe’ are you doing what you were built to do?

So I am challenging you to re-capture those big dreams! Ask yourself:

-       What needs to change?

-       How can I do business better?

-       How can I exceed the expectations of my customers?

-       What can I do to create a truly unique experience for people who come into contact with my business?

-       What calculated risks can I take?

-       How can I generate passion and excitement amongst my staff to help me achieve my goals?

Are you prepared to try and fail rather than wonder what might have been?

Michelle Grice writes a weekly column for business women in The Western Weekender