In the video below Michael Dell, the founder of Dell Computers, delivers an encouraging and insightful speech on failure management. In the speech, he explains why failure is actually a good thing – that it is a critical element in the recipe for success. He also comes with the theory that work should not be taken personally.

Long before Michael Dell said that failure is one of the best ways to learn, Winston Churchill had quoted: “Success is the ability to go from one failure to another with no loss of enthusiasm.” So true.

Failure management or bouncing back after a failure is easy – on paper. In reality bouncing back from failure or learning from failure is a very difficult task. Ask anybody who has failed and you will know.

If you want to convert your failure into a success (which is also known as failing successfully) and bounce back, here are a few pointers you need to keep in mind:

Do you still have it in you?

Remember that failure is not the end, which means the answer to the above question is “Yes, I still have it in me.” So after a failure, take some time off and recover. It is very important that you recover from the failure and understand that it was an event of the past.

Decide when to start moving forward & move forward:

Once you have recovered – and only you can confirm if you have recovered from a failure or not – start moving forward. This can be the same idea where you failed first or it can be a completely new idea, where you believe you will succeed.

Always remember it isn’t about you

Most of the time your failure is not about you. It is also about the situations, the circumstances, the people, the environment etc. Yes, sometimes it may be about you. Whatever it is, don’t blame yourself for your failure too much. Take heart and start afresh.

Learn from your failure

Treat your failure as an opportunity to pick up some tips and tricks along the way. Try again, this time not committing the same mistakes.

Now, that we have prepped you up for why failure is one of the best ways to learn, presenting Michael Dell on why failure is one of the best ways to learn: