9 Things You Learn Only After Failing

Everyone is a failure. For everyone from Jeff Bezos and Elon Musk to the owner of a small business at the local store, failure is the normal course of life for every entrepreneur. What separates the most successful founders from the rest is their ability to gain knowledge from failure.

In a recently published Reddit post on the subreddit r/entrepreneur, hundreds of users offered their views on the most important knowledge that is only learned through having failed. Here are a few of the most insightful thoughts on lessons learned from failure

1. Do not forget to concentrate on sales.

You could create a vital product that will revolutionize your field however it will not change anything when nobody is aware of it. While focussing upon the high-quality of your products is essential but sales and marketing are vital to get the public aware of your company. "It's not 90 percent product and 10 percent sales," one user on Reddit writes. "It's mostly sales."

2. Be aware of the warning indications of toxic people.

When choosing an business partner and securing employees, be sure that you aren't enticed by, as one Redditor refers to them as, "narcissists, sociopaths, and psychopaths." The toxic personality could have a devastating impact on your company if not handled promptly. For a clue to identify indicators, be aware of an absence of compassion for others , and the use charisma or intelligence to influence colleagues.

3. Be a bit more flexible.

Do not be afraid to branch off on your own when you've got an idea that you are convinced of. It's true that the "this is the way it's always been done" mindset can result in stagnation of creativity. Simply because something has been done once doesn't mean it's the right method. Try out new business models and concepts because you don't know when you'll discover something new and innovative. "Sometimes everyone in your industry is doing it wrong," one Redditor wrote.

4. Be sure to take feedback seriously.

It's demoralizing receiving negative feedback on an item or service you've invested your time and effort into, but you shouldn't overlook it. While trusting your gut instinct is crucial and a solid argument instead of emotions is equally important. "Don't half-ass product feedback," one user on Reddit writes. "My first couple apps failed because I didn't listen to my users."

5. Find the solution Find the solution, then design the product.

Success of your company is contingent on your ability to solve a particular problem with your product or service that you've created. You must ensure that you've come up with a solution for the problem before you start creating your product and searching for financing.

6. Be aware of the service providers you use.

Your company will probably have to depend on third-party service suppliers, be it web services, e-commerce or marketing services. Be sure to fully comprehend the conditions and terms of each service provider prior to signing an agreement.

7. Learn to not say"no..

When you're starting your own business, it's tempting to take any job deal that is offered to you But don't sign any contracts that offer services that aren't your expertise in order to make some quick money. Concentrate on areas where you are confident, and keep your eyes on them.

8. Prioritize co-founders with whom you have a relationship.

According to one Redditor, "co-founders need more effort, care, and caution than marriage." Although that might be a little bit of exaggeration, it's essential that both you and your cofounder remain on the same level. Being able to present a consistent image to all your investors, employees and customers will make a huge difference to your brand's reputation.

9. Learn to delegate.

When your business starts to expand, your schedule will become more difficult to manage. Train your employees to handle more complex tasks. This will help you save time and effort and demonstrate to your employees that you believe in them. "It feels great knowing I'm paying my employees VERY well and I trust them to do a great job," according to one Redditor.

Keep these tips in mind when you are faced with a situation that isn't working out as planned or you face setbacks in when trying to expand your company. The way to approach it is as Star Wars' Yoda once declared, "The greatest teacher, failure is."