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To Find Success, First Write Your Failure Resume | Fast Company | Business + Innovation

Posted on by Brandon Klein

An old proverb reminds us that “success has many fathers, but failure is an orphan.” To learn from failure, however, you have to “own” it. You have to figure out what went wrong and what to do better next time. If you don’t, you’re liable to repeat your errors in the future.

Acknowledging mistakes is also important for moving on. In doing so, you not only sidestep the psychological pitfalls of cover-up, rationalization, and guilt; you may also find that you enhance your own brand through your honesty, candor, and humility.

Ask any financial services professional about their recent performance, and you are likely to hear a lot of “spin,” as they either ignore their losses or cloud them with phrases like “market corrections” or “industry downdrafts.”