Billionaire entrepreneur Richard Branson agrees.
"Whether it is launching companies like Virgin Brides and Virgin Cola that fell flat on their face, making the wrong call on investments, or simply forgetting to return a call or send an email, I have made hundreds of mistakes," the Virgin Group founder writes.
"I'm sure I'll make many more this year, and learn valuable lessons from every error. Anybody who tells you they don't make mistakes has just made one."
While success stories tend to steal the headlines, there are inevitably a handful of mistakes that happen behind the scenes, Branson says: "Experiencing setbacks is part of the DNA of every successful entrepreneur, and I am no exception."
What's more, failure keeps you humble, Leno says: "People who don't make mistakes get sort of cocky and start to think of themselves as better than others.
"So, yeah, I would make the same mistakes all over again."
CNBC's "Jay Leno's Garage" airs Wednesdays at 10 p.m. ET.