Failing is often perceived as the worst thing that can happen. That is not always true – sometimes experiencing and working through failure can be an excellent catalyst for learning and growing as an individual, a leader, a team, or a company. Failures have the opportunity to teach us so much and help us become better and more successful people. Here are five ways that failures can help us rather than hurt us.

Teach Humility
As a leader in business and especially in small companies, it can be easier to become set in our ways or even start to believe that we cannot do wrong. Experiencing a setback or a failure is a surefire way to increase your humility. Running a company can try to inflate your ego, but failures can help to foster an attitude of humility. It is essential to be able to understand what your limits are and be able to honest about any shortcomings. Humble leaders can make much more of an impact on their employees compared to arrogant ones.

Choose Your Ideas Wisely
Failure can help you learn that not every idea that is had by you or your team is a great one. Generating ideas is such an important part of being a functioning work environment, but giving the same amount of time and energy to every one of them can lead to disappointment. It will be unhelpful for your business and yourself to waste precious time and energy.

Learn Your Limits
Failing can help you not only learn the limits of yourself but also of your company. This realization provides the opportunity to reassess and start to focus on the priorities. Failures help to show you that you cannot spread yourself too thin or commit yourself to too many things. It gives you a chance to reevaluate and learn not to take your talents for granted.

Strengthen Your Weaknesses
One of the most prominent things that a failure can show you about yourself or your business is the weaknesses with it or yourself. Along with this being one of the most noticeable things that you learn, it also provides you with the most opportunity for growth. By knowing what your weaknesses are, you can identify the change that you want to work on and how you can help your business grow to be stronger.

Although failing at something that you believe in can be very difficult, it can teach you essential things. It helps you to develop meaningful relationships and learn how to take constructive criticism. Most of all, it gives you the necessary life experience to continue to grow and run a healthy business.