In a recent article on ABC money, Steph Korey – entrepreneur and investor – discusses the importance of embracing failure. She talks about her own experiences with loss and how they have helped her grow as an individual and business owner.

Steph Korey is the co-founder and CEO of Away, a luggage company. She started the company in 2016, and it has since become a significant player in the travel industry. Away is a direct-to-consumer brand, which means that it sells its products online without using any middlemen. This approach has been very successful for the company, and it has managed to increase despite facing several setbacks along the way.

 

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Korey says businesses should embrace failure because of two reasons.

Failure Enables New Perspectives

Steph Korey says that it’s essential to be prepared for failure when a business embarks on a new venture. Failure can provide a unique perspective and help the industry learn from its mistakes. Korey cites her own experience with Away as an example of this. The company was forced to pivot several times in its early days, but it bounced back more vital each time than ever.

Failure Often Sparks Bigger Successes

Korey also believes that failure can often lead to more considerable successes. She points to Away as an example once again. The company was forced to pivot several times in its early days, but it bounced back more vital each time than ever. The company’s current success is mainly due to these earlier failures.

On embracing Failure, Steph Korey said, “I think the biggest thing is just not being afraid of it. And I know that’s easier said than done, but if you can look at failure as an opportunity to learn and grow, then it becomes a lot less scary.” Korey’s advice for businesses is to embrace failure and learn from it. This will help you to become a more successful entrepreneur.