Neven Dilkov, the Founder and CEO of Neterra EOOD, shares his insights on the importance of failure in business. He discusses how avoiding failure was his initial instinct when starting his business but soon learned that it was essential for growth. He emphasizes the value of learning from failures and using them as opportunities for improvement.
One of the key lessons Neven shares is that even champions can get beaten eventually. He explains that sometimes failures happen despite making all the right decisions, and it’s important to accept that not everything relies solely on individual decisions. This realization allowed him to become a better leader and make decisions without fear or anxiety clouding his judgment.
Neven also advises on future-proofing your business by designing it like an airplane, built to withstand turbulence without crashing. He suggests strategies such as not placing all your chips on one bet, taking baby steps forward to test the market, and not letting fear prevent you from taking well-calculated risks. He also emphasizes the importance of failing well and using outdoor sports as a way to boost self-esteem after a failure.
Neven shares a personal story about an employee who experienced a business failure but managed to survive and repay all the debts by himself. He commends the employee for his entrepreneurship and resilience in the face of failure, highlighting that failure is a common part of the entrepreneurial journey. He encourages individuals to be proud of their attempts at business, even if they end in failure, as long as they are learning and growing from the experience.
As part of the Forbes Business Council, Neven Dilkov promotes the importance of networking and growth opportunities for business owners and leaders. He stresses that success is not permanent, and failure is not final, and emphasizes the importance of continuous learning and growth in the face of setbacks. By embracing failure as a learning opportunity and not letting it deter them from taking risks, individuals can ultimately achieve success in their entrepreneurial endeavors.
