Garrett asks me a question about failure and I was surprised how it hit me emotionally. I guess it’s because I am passionate to see every entrepreneur succeed.
I love entrepreneurs and I know it’s brutal out there, because I’m out there, too. It pains my heart to see an entrepreneur who has been beaten up on their journey.
We all feel like a failure sometimes.
Watch the video below to see my response to his question,
“What words do you have for an entrepreneur who feels like a failure?”
Permit me to share a quote with you from the epilogue of my book The Next Level Entrepreneur: Focus your Passions ∙ Map your Direction ∙ Build a Great Company:
“The man who lost the spirit of youth is too busy with gloomy forecasts…
Men with the spirit of youth pioneered our America…
Men with vision and sturdy confidence. They found contentment in the thrill of action, knowing that
Success was never final and failure never fatal.
It was courage that counted.
Isn’t opportunity in America today greater than it was in the days of our grateful forefathers?
Live life…Every golden minute of it.
~ excerpted from a 1938 Anheuser-Busch Ad used on page 215 of The Next Level Entrepreneur
No matter how things may look right now, my hope for you is that you never lose the spirit of youth and get trapped in “gloomy forecasts”.
As I say in the video, “Your failing does not define the person you are. You are not a failure.”
Frankly, in my experience I have found that there can’t be success without failure.
In other words, failure is a part of success. Those people you read about who have made it ‘big’ went through failures to achieve that success, we just never hear about the failure part.
My hope for you is that you receive guidance in your journey and avoid as many mistakes as possible, but realize some failures may be necessary to provide the lessons needed to achieve success.
Remember, failing does not mean you are a failure.
Pause with this for a moment. Let this sink into your heart. You are not a failure!
Consider a different perspective on the word “fail”, as A.P.J. Abdul Kalam describes,
“If you fail, never give up because F.A.I.L. means:
First Attempt In Learning"
Let’s build on that!
I’ve known about the following ad copy a long time, and I’m always inspired when I remember it.
It appeared in The Wall Street Journal in 1983 and was written by Harry Gray, then CEO of United Technologies:
“Don’t Be Afraid to Fail
You’ve failed many times, although you may not remember.
You fell down the first time you tried to walk.
You almost drowned the first time you tried to swim, didn’t you?
Did you hit the ball the first time you swung a bat?
Heavy hitters, the ones who hit the most home runs, also strike out a lot.
R.H. Macy failed seven times before his store in New York caught on.
English novelist John Creasey got 753 rejection slips before he published 564 books.
Babe Ruth struck out 1,330 times, but he also hit 714 home runs.
Don’t worry about failure.
Worry about the chances you miss when you don’t even try.”
you are NEVER a failure and no amount of failing can ever make you a failure!
You have been placed on this earth for some great purpose.
Now, dust yourself off and continue your hero’s journey. We need you to succeed!
P.S. The pre-launch offer discount for my Strategies to Actions masterclass is expiring September 10 and this great price will not be repeated!
If you know anybody that this masterclass could help, please let them know. They can book a free call with me at TheNextLevelEntrepreneur.net to discuss the details of the class.
Has this ever happened to you? Before you start your day, you have these aspirational things you’re excited to work on.
Like the other week, I was all fired up to start the day by engaging on a particular marketing strategy.
I know this strategy is key to my Next Level which is sourced in my passions. So, I was excited to work on it, because it’s moving me in the direction of my passion.
But as I began working, it felt like it was a magnet to every distraction imaginable.
What’s worse, these distractions were legitimate: a tax form needed to be filed, several emails needed an immediate response, then came a meeting that had been scheduled, by that point I was so far into the day I concluded:
Well, I might as well clear other stuff off “my plate” today and
work on that strategy tomorrow.
What I discovered was that if I knew where a client was headed, then I could typically deliver great returns on their investment in my services as their outsourced, part-time Strategist and CFO (Chief Financial Officer).
Conversely, if I could never get a direction from them, then their returns were miniscule. Oh, I could always cover their investment in my services, that’s been something I’ve done with every client. But, they never saw the 10x, 20x, or even 100x returns that other clients experienced.
As I began to see these results, I realized:
Just how important great direction is to the success of any company. Without it you just live in the day to day grind.
But to reach where you’re headed, well that requires your best strategies.
The problem is that if we aren’t making enough money in our entrepreneurial endeavor, we look for something else we can do to make money while still being able to do what we are passionate about.
Then all of a sudden you find yourself involved in several different companies and projects and you struggle to remember your title which stretches across an entire page. You find yourself struggling to think straight, let alone actually do anything productive for any of those projects.
This trap of doing more to produce more is deadly.
Here are 3 simple steps you can do to turn that chaos into productivity and get your life back.
Plus, receive a FREE resource at the end of this blog that will help you succeed in what you love and gain time freedom.
Perhaps you recently came up with a great new business idea. The concept makes sense and your friends or co-workers urge you to give it a try. This could be the beginning of a successful entrepreneurial venture. However, you must realize that an appealing idea isn’t all you need, it’s just the beginning.
These four pitfalls can sink many promising startups:
Few companies succeed by simply putting a product on the market and expecting it to sell. To have staying power you must have strategy and values that takes you to your vision.
Many entrepreneurs have a great idea for a product or service. They are confident that they are offering something that’s new, innovative and desirable. However, they don’t always think about how they will make their potential customers aware of their services and this lack of visioncould have severe consequences. Developing a marketing strategy is easy with these six steps.
It’s imperative to come up with a short, simple answer for what your organization does. Sometimes this is as easy as naming your category or industry. A short statement such as: “We offer accounting services for doctors and dentists,” or “We manufacture reusable water bottles,” is all that’s required. This is the beginning of creating an easy way for customers to remember you.
Are you trying to reach college students or soccer moms? Maybe your customers are banking executives, accountants or office managers. It’s important to develop a narrow focus. By stating your intent to serve a specific portion of the population, you may feel that you are excluding many others. The reality is that a more targeted approach is an excellent way for you to direct your marketing strategy in a vital direction.
I’m a competitor on NBC’s American Ninja Warrior and an entrepreneur who founded a Ninja Park fitness gym 5 years ago.
I’m great at everything 'Ninja' and helping others achieve their fitness goals, but I struggle with the business side of my company.
So, I called George Black because he guides entrepreneurs like me.
(If you want to hear our conversation - raw and unedited, click the play button at the bottom)
I started by telling George that I am struggling with the accounting side of my business and I am stressed about making the deadline for taxes. I explained that I feel inadequate to be an entrepreneur because I can’t manage the financial side of my business.
Then I hear myself telling George that I hate doing the accounting and it seems to be killing my entrepreneurial desires. I know this has to get done properly for my business to continue, but how can I continue with this strain on my passions?
Even I'm surprised by the intensity of what I am saying.
SWOT Analysis is not a new tool. In fact, many entrepreneurs and organizations have used it for over 50 years. It is a framework through which a firm identifies its strengths, weaknesses, opportunities and threats.
Although SWOT may be the best known, there are number of other tools available that are similar, but different. Let’s take a quick look at a few of them:
SWOT is a simple analytical framework that looks into the potential of an organization given the available opportunities and threats.
In other words, it collects information via environmental analysis which separates internal strengths and weaknesses of an organization from the outward opportunities and threats.
The Chief Financial Officer is a top-level leader of a company who oversees an organization’s finances. Although expectations vary by company, a CFO’s responsibilities often combine the duties of a treasurer, controller, strategies, planner and advisor.
This professional oversees a firm’s accounting staff while analyzing economic data and making major financing decisions. A CFO is present to future focused, while knowing what has occurred in the past.
Chief Financial Officers work to identify the most lucrative investment strategies to grow companies. They assess current equity, liquidity and debt figures before spending any money.
A competent CFO takes calculated risks that raise profits without putting the company in danger. He or she knows how to avoid excessive debt burdens and ensure a firm set aside adequate emergency funds. This Officer also has the expertise to negotiate advantageous business deals and contracts.
Staff members often look to owners and executives for guidance. Despite their education and experience, leaders don’t always know how to solve every problem. A business coach or mentor can help you run your company wisely. However, it’s vital to understand the differences between these two types of advisors.
A business mentor usually possesses more experience than a coach. He or she has probably overseen at least one firm for many years. This individual concentrates on providing general advice and inspiration. Proprietors frequently tell mentors about new ideas to confirm that the concepts “make sense.”
These professionals strive to build lasting relationships with the company leaders they serve. Rather than solely focusing on commerce, they can also discuss personal issues. For example, you might need advice on balancing business responsibilities with the rest of your life. Executives can escape isolation by confiding in their mentors.