Dec 142014
 

Are you failing often enough?

This is a very important question to contemplate, especially if you are not in the middle of spectacular, unusual successes.

If you are not encountering failure, you are not pushing the envelope of your abilities or the opportunities that are inevitably present in your life. Trying something new and daring is the only way to significantly accelerate and expand your life, not to mention feel challenged and enthused. As Lou Holtz puts it in this video well worth watching, “you are either growing or you are dying” — there is no longterm safety with maintaining the status quo.

Unfortunately, as people age beyond 30 or 35, they take less risks and try fewer new things. It should surprise no one that most leaps in society come from the young. What’s true for people is also true for companies; as most companies evolve, they often transform from bold and innovative to conservative, plodding, and risk averse.

At the core of the problem is a myth about failure: Many believe failure is bad, embarrassing, and should be avoided at all cost, especially here in America. Even more people try to cover up their failures and hide them from others, immediately blocking them from their own minds in the cover-up process. The truth is that taking prudent risks, daring to fail, learning from failure, and treating every failure as an important learning experience is how one keeps failure in the right perspective.

sam-walton

I see failure and substantial success as gauges of “am I trying enough new things” — if I go six months without some spectacular setback or win, the alarm bells go off in my head, letting me know that I’m not trying enough new stuff, not taking enough new risks, and missing out on the successes and failures that come with pushing the envelope. Doing a few percent better this year than last is a clear indicator of wasted opportunity.

You must fail forward:

Failure should be our teacher, not our undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end. Failure is something we can avoid only by saying nothing, doing nothing, and being nothing.
– Denis Waitley

Far better is it to dare mighty things, to win glorious triumphs, even though checkered by failure… than to rank with those poor spirits who neither enjoy nor suffer much, because they live in a gray twilight that knows not victory nor defeat.
– Teddy Roosevelt

It is impossible to live without failing at something, unless you live so cautiously that you might has well not have lived at all, in which case you have failed by default.
– JK Rowling

The greatest glory in living lies not in never falling, but in rising every time we fall.
– Ralph Waldo Emerson

Before success comes in any man’s life, he’s sure to meet with much temporary defeat and, perhaps some failures. When defeat overtakes a man, the easiest and the most logical thing to do is to quit. That’s exactly what the majority of men do.
– Napoleon Hill

Forget about yesterday’s failure. Time to try something new, exciting, and at least a little bit risky!

I.M. Optimism Man

PS. Here’s a list of rather famous and successful that failed forward:

Roland Hussey Macy

He failed at selling ribbons, provisions to miners and at a general store before going bankrupt in 1855. His next effort, Macy’s became the world’s largest store.

J. C. Penney

First store went bankrupt when he refused to give whiskey as a kickback for orders from a large customer. Penny went belly up and got a job in a drapery shop that he later purchased and expanded into 1100 department stores nationwide.

Henry John Heinz

Started his first company in 1869 selling horseradish, pickles, sauerkraut and vinegar. In 1875 the company filed for bankruptcy due to an unexpected bumper harvest which the company could not keep up with and could not meet its payroll obligations. He immediately started a new company and introduced a new condiment, tomato ketchup to the market. This company was, and continues to be, very prosperous.

Milton Snavely Hershey

Started four candy companies that failed and filed bankruptcy before starting what is now Hershey’s Foods Corporation. Mr. Hershey had only a 4th grade education, but was certain he could make a good product that the public would want to purchase. His fifth attempt was clearly successful.

Conrad Hilton

Lost all his hotels when he could not pay his bank during the Great Depression. Later, he bought them all back and built a few more. Things worked out pretty good in the end. Just ask Paris.

Frank Lloyd Wright

Famous architect lost his home, Taliesin in Wisconsin and was thrown on the street when business dried up in 1922. During the following decade, he designed some of his most famous projects.

Henry Ford

First two automobile manufacturing companies failed. The first company filed for bankruptcy and the second ended because of a disagreement with his business partner. In June 1903, at the age of 40, he created a third company, the Ford Motor Company with a cash investment of $28,000.00. By July of 1903 the bank balance had dwindled to $223.65, but then Ford sold its first car, and as they say the rest is history

Harry Truman

Opened a shop in Missouri after the First World War only to have it fail miserably. He was further humbled by having to move in with his mother-in-law. Truman later settled his debt for pennies on the dollar when the bank at which the underlying note was written actually went bankrupt itself. He is said to have learned a lot from the misadventure. And it all turned out OK in the in end. You may have heard, he eventually got a good job, in Washington, DC.

Walt Disney

His name is synonymous with Mickey Mouse and the “happiest place on earth,” Disneyland. However, Disney’s career wasn’t always a moneymaking venture. In 1921, he began a company called the Laugh-O-Gram Corporation in Kansas City, Missouri but was forced to file for bankruptcy two years later because his financial backers pulled out. It must have been fate because Disney then headed to Hollywood and became one of the highest paid animators in history.

Sam Walton

His first store was a Ben Franklin discount shop that he made among the most profitable and successful in the chain. Walton’s problem was a short lease. When it expired, the building’s owner canceled his lease and took over the store himself. Walton was broke had to start over from scratch. You may have heard, however, that things turned out pretty good in the end. After these early financial difficulties were behind him, he later created the largest company in the world and became a billionaire.

 

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