This is the Olympic Creed presented to all athletes during the Olympic Games:
“The most important thing in the Olympic Games is not to win but to take part, just as the most important thing in life is not the triumph but the struggle. The essential thing is not to have conquered but to have fought well.”
Personally I found this creed a load of crap, and Olympic Creed at that!
Let me present to you an analogy. Supposedly you are applying for a job, there are others vying for that job position, you’re desperate for a job. You are confident about yourself, your academic background, your experience. You spent already significant amount of money just for job hunting. But you were not chosen. Okay. Just remind yourself that you have taken part, winning that job position is not the important thing, anyway.
Victory is one of the most important things in life. Defeated lifestyle is a life of misery. Whether you are a part of competitive sports, or just about any everyday dealings in life. Be constantly victorious. When defeated, accept it. Be better next time and fight again.