The fear of failure is perhaps the strongest force holding people below their potential.

In a world full of uncertainty, a delicate economy, and countless misfortunes that could happen to anyone, it’s easy to see why most people are inclined to play it safe.

Playing it safe has risk as well. If you never dare to fail, your success will have a low ceiling. Most people underestimate their merit and ability to recover from failure, leading them to pass up valuable opportunities. The ability to fail big and fail often has been a mark of the spectacularly successful throughout history.

Trial and error are usually the prime means of solving life’s problems. Yet many people are afraid to undertake the trial because they’re too afraid of experiencing the error. They make the mistake of believing that all error is wrong and harmful, when most of it is both helpful and necessary. Error provides the feedback that points the way to success. Only error pushes people to put together a new and better trial, leading through yet more errors and trials until they can ultimately find a viable and creative solution. To meet with an error is not to fail, but to take one more step on the path to final success. No errors means no successes either.

In fact, one of the greatest misfortunes you can meet early in a project is premature—yet inevitably still partial—success. When that happens, the temptation is to fix on what seemed to work so quickly and easily and look no further. Later, maybe, a competitor will come along and continue the exploration process that you aborted, pushing on to find a much better solution that will quickly push your partial one aside.

The following strategies that will help you put risk and reward in perspective so you can overcome the fear of failure:

1. Consider the cost of missed opportunities – The biggest risk that people fail to consider is the benefit they lose by avoiding high risk/high reward opportunities. Taking high risk opportunities is essential because they offer the greatest reward. The issue is that without taking risk, you can’t exploit any opportunities. You can live a quiet and reasonably happy life, but you are unlikely to create something new, and you are unlikely to make your mark on the world.

2. Research the alternatives – The unknown is a major source of fear. When you don’t know what you’re dealing with, potential consequences seem far worse than they actually are. Research all the potential outcomes (good and bad) so you genuinely understand the risk of failure and benefits of success. Analyzing these outcomes will help you see through the fear of failure and make a logical decision.

3. Put the worst-case scenario in perspective – If you chase your dreams and fall flat on your face, worst-case scenario, how long will it take you to recover? The answer is probably less than you expect. How hard would it really be to find another job? Chances are you could recover completely in a few months. Is the fear of a few rough months strong enough to keep you in a mediocre situation indefinitely?

4. Understand the benefits of failure – Life is a series of experiments, the more you make the better. Each failure is a trial in an experiment and an opportunity for growth. Even if a failure costs you financially, the educational benefits can far outweigh the loss. Working for a startup instead of a big company is considered risky, but according Paul Graham, “Managers at big companies prefer to hire someone who’d tried to start a startup and failed over someone who’d spent the same time working at a big company.”

5. Make a contingency plan – Another way to overcome the fear of failure is to reduce the downside. Hedge your risk by creating a contingency plan. Even if your first option fails, you can maintain the status quo with a solid backup plan. Daring to fail doesn’t mean you have to risk losing it all. If you manage risk intelligently, you can capture the benefits of high risk opportunities while leaving yourself a safety net.

6. Take action – The best way to reduce fear and build confidence is taking action. As soon as you do, you’ll begin accumulating experience and knowledge. Everything is hardest the first time. It’s like jumping off a cliff into a lake — after you do it once, you see that the water is safe and each time afterwards is easy. Start off with small steps and build up your confidence until the fear of failure is manageable.

7. Burn the boats – In Homer’s Iliad, Hector calls for torches to burn the boats as Patroclus observes the panic in his compatriots. With no way to make it home besides victory, the resolve of the soldiers was strengthened. When success and failure are the only options, you have no choice but to follow through. If you have a goal, but are afraid to commit, force yourself into action by burning the boats. Set a deadline to move to a new city without signing a lease. Fear of failure disappears when you realize it can’t save you

Why balance is essential
Beware of unbalanced values in your life. Beware when any one value—however benign in itself—becomes too powerful. Over-achievers destroy their own peace of mind and the lives of those who work for them. People too attached to “goodness” and morality become self-righteous bigots. Those whose values for building close relationships become unbalanced slide into smothering their friends and family with constant expressions of affection and demands for love in return.

Everyone likes to succeed. The problem comes when fear of failure is dominant. When you can no longer accept the inevitability of making mistakes, nor recognize the importance of trial and error in finding the best and most creative solution. The more creative you are, the more errors you are going to make. Get used to it. Deciding to avoid the errors will destroy your creativity too.

Balance counts more than you think. Some tartness must season the sweetest dish. A little selfishness is valuable even in the most caring person. And a little failure is essential to preserve everyone’s perspective on success.

We hear a lot about being positive. Maybe we also need to recognize that the negative parts of our lives and experience have just as important a role to play in finding success, in work and in life.

Courage is going from failure to failure without losing enthusiasm. Winston Churchill