Understanding and recognizing all of your faults, mistakes, and weaknesses can be a hard pill to swallow, but is critical in the business world. It’s an innate characteristic for a person to refuse to listen to something they don’t want to hear. A plethora of excuses stems from this as to why hearing such negative comments will only result in added negativity. However, addressing these head-on and working to correct them is the surest, fastest way to remedy them.

For individuals who consider themselves positive thinkers, simply hearing negative comments are believed to invite negativity into one’s life. People who may have busier schedules feel as though they don’t have time to sit and listen to feedback. Many entrepreneurs today fall in line with the latter.

Failing to accept criticism in any form is hindering progress (assuming that criticism is constructive). Entrepreneurs and business leaders must learn to accept criticism with humility, taking away valuable lessons from the conversation. This can be difficult for some, but should be seen as an opportunity for improvement, which, in the long-run, almost always translates to success.

Being open and inviting is key when receiving feedback. It allows you to immediately address any concerns of your employees or of your own, and make the necessary changes in order to improve daily interactions. This will benefit both employee and customer interactions, as well. Entrepreneurs and business leaders should strive for this and constantly seek ways to improve themselves or their business. Simply being “good enough” is never actually enough.

Accepting constructive criticism allows business leaders to make valuable change that will result in happier customers and employees. This is another factor that could translate to better business, a.k.a. increased profits.

Consider this: every single business receives both positive and negative feedback from its customers and employees on a daily basis. It’s how businesses improve for both themselves and their consumers. Online reviews through Google or Yelp, for example, usually reflect a business accurately, barring angry individuals with personal vendettas. This gives the entire consumer world better insight on a given business’s operations.

While it can be tough to hear, constructive criticism is one of many keys to improve you or your company, but only for those willing to listen. What may be a few short minutes of having your faults highlighted will result in long-term success.