Too many would-be, could-be entrepreneurs never even start because they’re scared of failure. It makes me wonder at times, if you’re scared to start, how scared are you going to be 5 years down the road with that business? How about when the bank is standing on your doorstep on a Thursday, telling you need to pay them $1 million by Monday or else they’re taking everything? It’s actually a very real scenario (happened to Richard Branson in his early days).
Thinking about things like this lead me to believe the best piece of advice for entrepreneurs is: Just hurry and fail so you get used to it.
Failure Conquers Fear
Courage is not an absence of fear, but such is a mastery of fear. You master fear by failing. Failing doesn’t hurt the 10th time or so. Doesn’t mean the fear doesn’t exist. You just learn to disregard it. Or maybe you’re like most of entrepreneurs, where…if there is one good example we actually set in our lives, it was: how to overcome fear of failure & adversity. Ironically, if you fear the failure, you fail!
Failure Teaches Lessons
The things we can learn from failure and experiences. Often, it’s how we as entrepreneurs learn. The more experiences and failures you expose yourself to, the faster you learn. The faster you learn, the faster you grow. The faster you grow, the better of an entrepreneur or empire you can become.
Failure Makes You Good
The more you fail, the more you’ll recognize the patterns of failure. You’ll start to feel confident that you’re making the right decisions, because you’ve already made the wrong decisions before. It’s kind of like getting divorced or something. Many people aren’t able to see what they did wrong, until after the failure.
Failure Builds Entrepreneurs
This is just a personal theory of mine, and of many others. But alot the successful entrepreneurs, have had very rough lives. Things were always chaotic growing up, or they made alot of mistakes. Maybe not all the billionaires, or the one’s who used mommy & daddy’s money to get there, but the true entrepreneurs: they had to work hard. They had to deal with stress the average Joe could not even imagine. Maybe it’s not an indicator of success, but perhaps it does make us more willing to fail & learn, so we venture out into the world faster.
What are your thoughts on failure? Are you scared of it, were you ever? Or was it something you just got over eventually?