It is human to wrestle with failure. We are told it’s avoidable at all costs. However, today I am telling that it’s sometimes fruitful to acknowledge failure and let life go on Why struggle with it while you can make your life work somewhere else?
It’s time to recognize the courage of the companies that filed for chapter 11, chapter 7 i.e. bankruptcy or liquidation to move to another line of business. Embracing failure transforms the individual or an organization. It is a tough situation to go through but it provides a different mostly efficient future outlook.
See for example a list of 11 largest corporations that had the courage to file for bankruptcy in history:
Pacific Gas & Electric Co
Filed Chapter 11: 2001
Thornburg Mortgage —Filed Chapter 11: May 2009
MF Global Filed Chapter 11: Oct 31 2011
Filed Chapter 11: 2002
More bankrupted companies
Also retailers who went bust as of this year