💡 5 Lessons Learned from Failure

1️⃣ Learn to control risks 🎲

Many failures stem from going all-in on one thing without a backup plan. In the entrepreneurial world, risk management is crucial.

• Lesson : Don't put all your eggs in one basket; diversify your investments and test different strategies.
• Hong Kong scenario : For example, if a cafe entrepreneur relies solely on walk-in customers, they will be out of business as soon as the epidemic hits; but if they develop a food delivery platform earlier, they may be much more stable.
• Editor's tip : When doing any project, you should use the "small-scale experiment → collect feedback → then expand" model to reduce the risk of a sudden failure.

2️⃣ Learn to accept criticism 🗣️

Failure often reminds us that our own views may not be the best.

• Lesson : Be willing to listen to opinions and don’t reject criticism just to save face.
• Hong Kong scene : In many startup pitch competitions, the judges will directly tell you that "your business model doesn't work." Don't feel embarrassed, because this feedback may be more valuable than spending $100,000 on advertising.
• Editor’s tip : Treat criticism as free consulting advice, absorb the useful ones, and filter out the useless ones.

3️⃣ Learn to allocate resources 💰

One of the major reasons for failure is "resource mismatch", especially money and time.

• Lesson : Be aware that resources are limited and don’t try to do everything at the expense of money.
• Hong Kong scene : Some entrepreneurs rent large shops in Mong Kok and decorate them luxuriously from the start, but their products have not yet been market-proven, and they end up closing down within a year.
• Editor’s Tip : The golden rule for startups is to “prove the market first, then invest heavily.”

4️⃣ Learn to adjust your mindset🧘

Failure does not mean "you can't do it", it only proves "you can't do this".

• Lesson : Don’t equate one failure with failure in your life. Have the mindset that “once doesn’t mean forever.”
• Hong Kong scene : Hong Kong society is stressful, and many people feel ashamed when they fail. However, the entrepreneurial culture in Silicon Valley encourages "Fail Fast, Learn Faster."
• Editor's Tip : Failure is experience points. The faster you learn, the faster you level up.

5️⃣ Learn to be persistent and patient 💪

Many successes are actually just one step away, but are missed because we give up too early.

• Lesson : Be patient and don’t expect overnight success.
• Hong Kong scenario : For example, the local e-commerce platform Shopline was not very popular in the early days, but because the team persisted in making improvements, it took several years to slowly build a reputation.
• Editor's tip : Success is usually a combination of "persistence" and "adjustment." Try and make changes along the way. Only after you get through the lows will you have a chance to see the light at the end of the tunnel.

---

✍️ Editor's summary

Failure is not a bad thing; rather, it is a way to “accelerate learning.”

• Control risk → Don’t lose everything at once
• Accept criticism → Opinions are free resources
• Resource allocation → First try small scale, then expand
• Adjust your mindset → Failure doesn’t mean “I can’t”
• Persistence and patience → Success is about getting through the lows

In a nutshell, failure is an inevitable stage in entrepreneurship and life. Learning from the lessons can pave the way to success .

📊 Comparison chart of 5 lessons learned from failure

---

👉 Editor's Tip:

• Don’t view failure as a death sentence , but as a checkpoint.
• Although the Hong Kong market is grim , the sooner we learn from the lessons, the sooner we can turn things around.