Let Yourself Fail Frequently
Syed Hassan Abbas
Will Improve People Performance; Transfer Your Vision to Teams; Implement Strategies. Author | Consultant | Coach: AI Transformation, Employee Response Evaluator | Optimum Effectiveness & Efficiency | C-Square Academy
Here is the success formula.
Fail frequently. Try to fail as frequently as possible.
You will fail. That is inevitable. That is simple statistics.
An average successful businessman has failed over 8 times before his final success.
According to the U.S. Bureau of Labor Statistics (BLS), approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and?65%?during the first 10 years. Only 25% of new businesses make it to 15 years or more. This is one in every four businesses.
Start as many new projects as you can. You will fail. Learn the lesson. Use it next time and try again. Mend your approach as per the lesson learnt and try again.
If in sales talk to as many new prospects as you can. You will be turned down. For sales being turned down is a temporary short-term failure. So what? Talk to another person about what you are selling. Get turned down again. Talk to another person.
Looking for a capital investment. Talk to as many investment makers as you can. You will be turned down. Learn from it. Talk to another.
The key is to fail as frequently as you can with a mindset to learn from your failure and use the lesson to change or fix your approach for the next attempt ?(or else keep on failing will take you nowhere).
If you have to fail 8 out of 10 times, then why wait full ten years to fail for the 8th time.
If you have to be turned down by the investors 9 out of 10 times, then why wait six months before you touch the next angel investor group.
If you have to wife the 10th lady, why wait full five years before you have to be turned down by 9.
Imagine talking once a month to a group of investment makers for your startup idea Vs presenting once a week.
Imagine talking to five new potential clients in a week Vs calling them in a day.
Imagine applying to ten publishing houses in a year Vs contacting them in a month.
Fail frequently. And fail as quickly as possible.
领英推荐
Well failure has its impact and to handle failure is an art very few are aware of.
Subscribe to CLARITY newsletter for knowing how to handle failure in next article.
Hassan Bukhari (pen name)
Syed Hassan Abbas
Chief Editor
CLARITY Newsletter
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Will Improve People Performance; Transfer Your Vision to Teams; Implement Strategies. Author | Consultant | Coach: AI Transformation, Employee Response Evaluator | Optimum Effectiveness & Efficiency | C-Square Academy
1 个月For becoming aware and getting rid of thought bias and achieving clarity in decision making subscribe to CLARITY Newsletter: https://www.dhirubhai.net/newsletters/clarity-7223607253944197122