Learn from experience

• Learn from experience by analyzing successes and failures, and use that knowledge to improve future actions.

Learning from past actions is key. Carefully review what worked well and what didn’t. Use these insights to make your next steps better. This cycle of learning and improving from each experience helps you constantly get better at what you do. Studies thoroughly examine how failure sparks reflection, the elements that affect this reflection, what is learned, and how it’s applied in entrepreneurial comebacks. However, it overlooks other recovery strategies, the role of personal traits in reflection, the cognitive mechanics of reflection, the conversion of failure into coherent ideas, and how these lessons apply outside of entrepreneurship.

Read more in: Lattacher, W. and Wdowiak, M.A. (2020), “Entrepreneurial learning from failure. A systematic review”, International Journal of Entrepreneurial Behavior & Research, Vol. 26 No. 5, pp. 1093-1131. https://doi.org/10.1108/IJEBR-02-2019-0085

Available at: https://www.emerald.com/insight/content/doi/10.1108/IJEBR-02-2019-0085/full/html