Winning Through Failure

Last week, I posted on Facebook some of my thoughts about Mitt Romney’s vile attack on Donald Trump. Had the impeccably manicured Mitt been half as harsh with Barack Obama in the 2012 presidential campaign, he probably would be preparing for a second term right now. But, unfortunately, he lacked either the principle or courage or both, to do so.

It’s more than just a bit ironic that even though Romney had no difficulty brutally attacking Trump, he was a perfect gentleman to Barack Obama in the 2012 presidential race. He even went so far as to refer to him as “a nice guy.”

This, even though for four years Obama had repeatedly violated the Constitution, increased the national debt more than any other president in U.S. history, and lied repeatedly to the American people about everything from the cost of Obamacare to the cause of the Benghazi attacks.

One last topic I want to mention is corporate bankruptcy, which is very much related to the failure. To keep bankruptcy in proper perspective, one must first understand the purpose of a corporation. When someone incorporates a business, he is giving birth to a new, standalone entity.

It’s a transparent method for serving legal notice on the world that proclaims: “You are now dealing with a separate entity, so check it out carefully on its own merits, financial and otherwise.” In other words, caveat emptor.

Put simply, the main purpose of forming a corporation is to legally protect shareholders from personal liability. So, in a sense, bankruptcy is the legalization of failure. Sorry, Mitt, but failure is nothing to be ashamed of. On the contrary, it’s an integral part of business. The only people who never fail are those who never try to succeed.

The takeaway here is not that Mitt Romney undressed in public and, in the process, made himself look mean spirited and petty. Most people already had very little respect for Romney, though for different reasons.

The real takeaway is that failure is not something to be ashamed of and that a trueentrepreneur embraces failure and learns from it. In that respect, one might say that failure is the mother’s milk of success. That’s why many venture capitalists actually prefer to invest in hi-tech individuals who already have one or two failures under their belts because they realize that their bad experiences increase their chances of succeeding in a new venture.

That said, if you’re an entrepreneur — or an aspiring entrepreneur — be sure to make it a point to never, ever be afraid of failure. And, just as important, keep your distance from those fools and knaves who look their noses down on those who have failed. Especially if they happen to be failed, presidential candidates.

Reprinted with permission from RobertRinger.com.

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