Learn from your mistakes to build a successful company

The success you've experienced in your past professional efforts has molded you into the business owner you are today. If you've managed creative teams through adversity, you're reputation as a leader most likely developed organically. However, what continues to motivate you, drive you further, may be your faults and mistakes, according to a recent study from Stanford's Graduate School of Business.

Researchers recently found a link between the guilt people feel when they miss an opportunity and how they perform as leaders. Becky Schaumberg, a doctoral candidate at Stanford, says she believes this is because guilt is often associated with feeling responsible for certain outcomes. When business owners mess up, they become obsessed with correcting their shortcomings, which often translates into superior leadership.

"Guilt-prone individuals are really sensitive to their obligations, so they follow through on those duties," Schaumberg said to Inc. Magazine. "When people experience guilt, they want to fix the bad thing that they did."

As a business owner, for example, you've likely miscalculated a step in branding your business and had to mitigate the consequences. While you might try to bury this occurrence in the back of your portfolio, its existence still drives you forward. Therefore, it's important to remember how your past mistakes can also play a part in shaping your future.

A quality leader has purpose. If you are no longer passionate about what you do, whether it is managing a creative team or marketing manufactured computer parts, you need to be enthusiastic if you want to find professional success. After all, your employees look up to you for your extensive field knowledge as well as your ability to take risks and move forward.

The next time you make a mistake, don't be so quick to dismiss it as just an error. When you try and learn from your downfalls, your passion for perfection grows, and it is often reflected in your future outputs.