Are you afraid of failure?
I don’t know how many times people have said to me, “What if I fail…”
My usual response is, “So what? Join the club. Everyone fails. It’s what you do with it that matters.”
But recently I heard the perfect quote for these situations.
Sochiro Honda, the founder of Honda Motor Company said…
“Success is 99% Failure.”
That quote is a little confusing. Here’s another one from him which makes it more clear.
“Success represents the 1% of your work which results from the 99% that is called failure.”
Failure is a stepping stone to success.
It’s a natural progression.
Instead of failure being something to be afraid of, it is to be embraced.
When you were a child and took your first steps, did you ever fall flat on your butt?
I’ll bet you did…just like everyone else.
What about the first time you got on a bicycle?
This is embarrassing, but I remember the first day I got my driver’s license.
I only had a license for a few hours and was out with my buddies.
I backed into a parked truck in a McDonald’s parking lot.
Luckily, my parents weren’t angry.
In fact, my father burst out laughing when I told him.
It just so happened my mother bragged that “I drove just like her” earlier that day to him.
Not an experience to be proud of…but it does illustrate this story.
Accidents didn’t become a trend although I did have one more during my teenager days.
If you pick up golf tomorrow, do you expect to play on the PGA tour next week?
Or join NBA the first time you hold a basketball in your hands?
No. In sports, you have to practice.
In science, it’s about a process of experimentation until a new discovery is made.
In business, it is about testing different approaches until you find the one customers love.
In advertising, it’s about optimizing each step of your campaign.
Every offer isn’t going to be a home run.
Every email isn’t going to produce a landslide of sales.
And playing it safe…doing what everyone else does…isn’t the route to innovation and improvement.
Often the greatest improvements occur when you try something from outside of your industry.
It’s a risk…but the greatest rewards come from the greatest risks.
In investing, they talk about managing risk.
If you invest money in CDs, you have very little risk. But you also get almost no return. In fact, once you count inflation, you’re often getting negative returns.
Stocks, bonds, real estate, and commodities like gold all introduce additional risks. But there are also greater returns available here.
But where’s the greatest potential return for your investment?
It’s in your own backyard in your own business.
I’ve never earned a return in any outside investment like I have in my own business.
Not even close.
But that also means you need to take some intelligent risks in your own business.
Quit running from failure.
Manage your risk. Keep mistakes small. Let the winners multiply and run.
Join the Monthly Mentor Club…the club where winners hang out.