You must learn to deal with failure if you want to be a successful business.
There’s no getting around it. Before demonstrating the first incandescent light bulb on October 21, 1879, Thomas Edison performed over ten thousand different experiments. Traf-O-Data, Bill Gates’ first venture, was a flop. “I’ve missed more than 9,000 shots in my career,” Michael Jordan was famously quoted as saying. I’ve dropped nearly 300 games. I’ve been trusted to take the game-winning shot 26 times, and each time I’ve failed. In my life, I’ve failed several times. That is why I am successful.”
I’ve failed more times than I can remember in my brief career as an entrepreneur. I’ve got my share of success as well, but it’s nowhere near comparable. The failures significantly outnumber the victories, and I’m certain I’m in for a lot more. That’s ok with me since I know that if I stop failing, I’ll stop attempting to innovate. It’s the nature of the entrepreneur’s business, and of success in general.
Everyone would do it if it was simple. It’s naïve to believe that every excellent concept you have would turn into a profitable business. “Every single concept I come up with appears to work,” I have yet to hear one entrepreneur declare. More than likely, you’ll hear something along the lines of «I failed at my first five enterprises before finding success with this one.»
Consider it for a moment. There are five different enterprises. The number can be three or twenty, but the point is that most entrepreneurs do not have a home run with their first business. It truly astounds me – how many individuals have the audacity to fail five times and then start a sixth? You must be utterly confident and approach the sixth time as a learning experience from the prior five. If number six fails, you must repeat the process and go to number seven.
The most crucial factor, in my opinion, is how you handle failure. You can learn from your errors and move on once you recognize that it’s unavoidable. It’s easy to get consumed by failure – not because you’re pessimistic, but because it’s difficult to watch something you put your heart and soul into being neglected or rejected. You must realize as quickly as possible that it is your business, not you, that they are ignoring or rejecting. The sooner you do so, the sooner you’ll be able to objectively assess why you failed and learn what you need to know to better in the future.
Failure is difficult and unpleasant, but it is an unavoidable part of success. Still don’t trust me? Thomas Edison, Bill Gates, and Michael Jordan are just a few examples. To be fair, asking Thomas Edison could be a little difficult, but you get the point.
Remember to contact me through my social media platforms or through the contact us form on this website. We will soon share content by email, so make sure to subscribe to our newsletter.
I post on a weekly basis, so make sure to check back again or stay tuned in social media. Hey! I’m active on Twitter. Enjoy and stay safe!
Social Media:
- Follow me on Twitter as @Oscarlarach
- Follow me on Facebook as Oscar Larach Speaker
- Follow me on YouTube as Oscar Larach
Other blog entries:
Oscar Larach: Make It Your Destiny To Accomplish Great Things In Your Life
How To Set Intentions That Energize You
Get your daily dose of inspiration and remember to check out my posts on Instagram and Facebook too. Download all images in my gallery and share them, remember to tag me.
Leave Your Comment