News Awards & Events Cate Blanchett On Why "Failing Gloriously" Is Her Ultimate Secret By Kim Peiffer Kim Peiffer Kim Peiffer is a New York-based editor, writer, digital media expert, and on-camera talent who covers beauty, wellness, travel, fashion, and women's lifestyle topics. She was previously a Senior Editor for InStyle, and is currently the Lifestyle Executive Editor for Forbes. InStyle's editorial guidelines Updated on February 28, 2016 @ 08:00AM Pin Share Tweet Email Photo: Jason Merritt It’s clear that whatever Cate Blanchett is doing, she’s certainly doing it right. The Aussie star is up for her third (yes, third) potential Oscar win on Sunday for her leading role in Carol, and has two Oscar statues already hanging out at home, one for 2004’s the Aviator and one for 2014’s Blue Jasmine (not to mention countless other accolades). So how does she do it? Simple. She welcomes failure first and foremost. “I remember a teacher said to me at drama school that if you’re going to fail, you may as well fail gloriously, which behind that piece of advice was to just take a risk,” she told InStyle at an event for SK-ll Friday in Los Angeles, celebrating the brand’s #ChangeDestiny campaign. “And I think risk is really, really important for an actor. The failure is very public, but you have to risk it, otherwise you don’t progress, you don’t make discoveries.” See Cate Blanchett Stun in SK-ll's #ChangeDestiny Video Failure may be a big part of the reason for her success, but so is her inspirational look at life and her belief that living in the moment instead of dreaming up the future is really the secret to achieving happiness. “I’m really practical, and I think if you’re constantly thinking about some dream that you’re trying to achieve, you actually miss the forks in the road that actually lead to the opportunities,” she said. Go Inside the Hottest Parties of Oscar Weekend “The most important piece of advice I can give is to be alive to those opportunities, to work with what you have and try to find the courage to not be defined by the roles that people are telling you that you should fulfill. For me, it’s been hard work and consistency. Life is about the process.“ Well said Cate, well said.