Does it really exist?
For me, its just another stepping stone in the process of my journey. From my biggest failures I've gained the knowledge and wisdom which has taken me on an alternative more finessed route, one which I would not have found if it weren't for my 'failures'. if you fear it, it will most definitely stop you from getting where you want to be in life.
My perception changed regarding failure early on in my career. Everything that has gone wrong in my life, in due course has been revealed to me that it wasn't a failure, more a course change. What I leant through the process has proved to be far more valuable. Learning things is paramount, we can't just stop learning in our daily lives and failure provides a vast amount of education in a short amount of time.
In short, we should welcome failure with open arms.