Failed Business? Say "I"
Truth be told, I probably wouldn't invest in someone who hasn't failed at least ONCE in the entrepreneurial world. Failure teaches more than success ever will. Being an entrepreneur for 9 years, I can tell you the school of hard knocks has taught me things that only can be learned FROM the school of hard knocks.
People shouldn't hide behind their failure, they should display it. They should wear it as a badge of honor. Why is that? Because it means life taught you something about business in the real world. It didn't come from philosophy. It came from actual first hand experiences. Whether the idea was bad, you didn't leverage yourself correctly, or you didn't understand the market, it taught you something that you need for the next round.
Humans are wired to problem when faced with actual problems. If you don't have problems, then your brain will not soak up solutions. And it's amazing how the greatest creative moments in your life happen in the moment of crisis - when your back is up against the wall.
Some of the greatest entrepreneurs we look up to have failed 3,4,5 times (maybe even more) before making it to the next level. Every time you fail, you learn something. Maybe it's something you need to get better at. Maybe it's something you shouldn't do anymore. Whatever it is, it is a lesson that you need to remember.
Robert Kiyosaki once said " 9 out of 10 businesses fail; so I came up with a foolproof plan - create ten businesses."
The point is this: You are going to fail in the beginning. Accept it. Be ready for it. And learn from it. The entrepreneurs who win are the one's who don't hide their struggles. They are the one's who use their struggles to get to the next level.
Fail fast. Fail early. Fail certainly. WIN EVENTUALLY.
The next chapter is all that matters. Write on.
Mike Fallat
