Blog

22Dec, 09

  • Have you ever tried a business and failed?
  • Has that failure ever came back to haunt you?
  • Has that same failure scared you away from your next business venture?
  • If you said yes to any of those 3 questions, this tip is for you…

    I have found that, if you want to be successful as an Entrepreneur, you must learn quickly that:

    “It’s how you deal with failure that determines how you achieve success.” – Charlotte Whitton

    I heard this quote  a few years ago, and it has had a huge impact in my life.  When I was 19, I started my first full time business, an exterior home painting franchise, and it was a huge financial failure.  At this point most people would have stopped and gotten a nice “safe and secure” job; but not me.  I’ll admit, that there was a point that I quit,  felt “burned, and wanted to just hide.  Once I looked past my failures in this venture, I was more motivated and hungry then ever to run a successful business.  This huge “failure” has turned into one of the greatest learning experiences of my life.

    When you reach a situation where you “fail,” you’re left with two options:

    Quit or Learn

    After hitting a wall, if you say to yourself you “failed” and then stop, you will end up quitting and become a victim to your experience.  This is where most people will play the blame game and give every reason as to why their venture failed.  If you do this it will eat you up.  You may even be scared to try another venture because of the Fear that you could “fail again.”   Trust me, I’ve done it before.

    However, if when you “fail”, you ask yourself; “What did I just learn?”  You will reach a point where you have an “ah-ha,” and learn a lesson from your experience.  By doing this you will be able to break the cycle of one of your failing habits..  This is a form of being a victor, and will be beneficial to your personal and business development.

    Failing is a part of business, heck its a part of life.  Fail fast and get it out of the way as quick as possible.  Do be not be afraid to fail!  It will lead you towards your success.

    Michael Jordan, possibly the greatest basketball players of all time, sums up “failure” in one of my favorite commercials:

    Remember, Be Like Mike.  Fail over and over again till you Succeed.

     

    What are your feelings on failure?  Disqus below:

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    • http://myheadisfull.com/ Dreamosity

      Definitely a truth. Fail fast and don't quit. The questions is, how do you remember this important truth right after a failure and all you want to do is disappear?

    • http://the247entrepreneur.com/ Cory Shanes

      Personally I look at cause and effect, I'm aware of the fact that if I just go and disappear, I won't learn anything, and I'll end up making the mistake that caused me to fail again. At this point in my life, instead of creating this problem over and over again, I'd rather just solve it right away, learn my lesson and move on. Hope this helps.

    • http://www.stevenmale.com/ Steven Male

      It's not only failing fast, but failing cheaply also helps haha. Don't pull a Tiger Woods!

      Hope you had a great New Years Cory.

      Steven Male.

    • http://the247entrepreneur.com/ Cory Shanes

      Good tip Steven! Thanks for following.

    • http://twitter.com/bluepop13 Eric

      A message everyone should read and take to heart.

      Failure is the doorway to success if you allow yourself the strength to open the door.

      How's that to sum things up? :)

    • fordney

      try and fail but don't fail to try

    • maryloukayser

      Hi Cory,
      It sounds like you were born to be an entrepreneur! The fact that you did not quit after your first business failure, but instead got back on the horse, so to speak, and found a new venture to pursue, shows your drive to succeed as an independent businessman is strong and won't take no for an answer!
      Love that spirit! It's what makes living in America so great!
      Mary Lou

    • http://the247entrepreneur.com/ Cory Shanes

      thanks Mary Lou. I agree I was born to be an entrepreneur!

    • http://the247entrepreneur.com/ Cory Shanes

      thanks Mary Lou. I agree I was born to be an entrepreneur!