Absolutely. "Twenty years from now you will be more disappointed with the things you didn't do than by the ones you did do." - Mark Twain
The first time I heard this it was quite the game changer. Realizing that all the things I was afraid to try would haunt me in my future if I never even gave it a shot. Letting fear overtake your passions is probably one of the biggest regrets of older generations, wishing they would have done one thing or another before the time had passed them by.
Gary Vaynerchuk will say "you only get one at bat" or "you're going to die one day" in response to people asking how he stays motivated and so driven. The question is quite binary for him as the framework of his life is truly setup that way. With only one shot, you better make the most of it no matter how many times you have to fail.
So don't be afraid to fail as it just brings you one step closer to success!
On the other side of things this could be interpreted as just trying to enjoy every moment of your glorious life. Because as far as we know, it's the only one you're going to get.
Cheers!