Are you afraid of failure? Well, you are not alone.
Most of us have exactly what it takes to start a business, achieve our goals or embark on any important journey in our lives, yet we find it difficult to take the first step simply because of one thing – fear of failure.
We are all afraid of failure, but does it mean we have to stop trying?
Taking action can be the most difficult step and can appear to be paralysing from time to time, but remember there is no success without failure. Everyone who is successful will tell you about the many hurdles they had to jump for them to get to where they are.
Success in life or business doesn’t happen until you take that very first step towards reaching your goal. As Don Shula once stated, “the start is what stops most people”. Well, fear of failure at the starting point contributes largely towards many people not taking off at all when they have the potential to reach for the stars.
Remember that everything you want is on the other side of failure.
It may seem like failure tends to be more public than success, hence we try to avoid it and question ourselves every time we have new ideas. But the simple truth is – no great success was ever achieved without failure.
Instead of seeing failure as a measure of your capability, rather see it as a learning curve. The renowned Mike Lipkin once unpacked the acronym FAIL as standing for ‘First Action In Learning’. So pick up your lesson and have the second attempt in being better equipped.
Go out there and use that knowledge that you have inside of you. That small business idea you have, act on it. Most of us have exactly what we need to get to our goals, but we make excuses not to even get started.
Living a successful life is all about experimenting and trying new things. The more things you try, the closer you will get to true success.
Just to borrow from Robert F. Kennedy, “Only those who dare to fail greatly can ever achieve greatly.”
Bruce on Business – The power of assumption
If there’s s anything that we learned from the host team England over the weekend , it’s that you have to be careful about assuming that others see the world the way you do. It’s very easy for any organization, a team or a company to get caught up in its own echo chamber of like-minded believers, forgetting that there need to check and make sure that the vision and the goal matches the external reality, or you could be enthusiastically charging towards a similar shock as the England rugby team that has fallen by the way side.
In business, most companies are the centers of their own universes. It’s a natural enough impression; after all, the products and services they offer are on their minds 24/7. The trap is in those companies deluding themselves into thinking that they are as important to their customers as they are to themselves.
But how do we fix that?
Make sure you are continuously seeking a more thorough and objective understanding of your customers, harness the fresh perspectives of new employees, and have the humility to recognize that your customers may have needs and lives beyond your company. Admit where you maybe wrong.
Don’t wait for a catastrophe to show you when you’ve become too caught up in your own hype.
How to live your dream as an entrepreneur and see it pay off
Do you have the energy, passion and attitude to start a business?
When developing a dream as an entrepreneur, having a proper structure and procedure is where to start. Do a thorough research about the business you want to venture into, ask questions from every different angle. Think of the various ways of doing things differently from your competitors – a lot of creativity and innovation might come pouring out of that. Have a long term plan. Just like a house needs a good foundation, starting a business does too – otherwise your business is bound to fall by the wayside and therefore fail to fulfil its mission.
But to know how not to fail in business, it is essential to know what makes start-up businesses to fail.
Some of the things that can make a business to fail are poor planning, lack of financial resources and lack of knowledge.
Every year thousands of people start businesses, but how many of those keep their businesses operational throughout the year? If you cannot endure the stress of running or starting a business then you will surely need to rethink your idea of starting one. All businesses, no matter the size, need hard work, energy and passion.
Just to borrow from Dr William Arthur Ward: “The gates of opportunity and advancement swing on these four hinges: initiative, industry, insight and integrity.” So, go out there and grab every opportunity that will steer your passion towards fulfilling your dream in business.
The Strategy of a Coach
This week we have seen the beginning of the Rugby World Cup, and for all South Africans, it has been a bit of a disastrous start for the Springboks.
But let’s look at the SA – Japan game through a different lens: One team walked onto the field with enough experience and confidence to beat any team in the world, but the coach was ill-prepared, had not done their homework and did not have a good strategy.
The other team walked onto the field with the worst World Cup record, but the Coach who sat in the management box, had not only experience but a plan of action, execution and the confidence what he had mapped out would work.
And it did. The Japanese team took the Springboks to task. They out played, out tackled and out ran us. The Coaches plan was revealed in their clever plays and counter strategy for everything that the springboks had planned.
Even at half time, a time where a good coach has a chance to re-strategize based on the first half, the Springboks returned to the field with the same losing game plan and predictable moves.
The same applies to businesses. Each business, no matter how confident or experienced, needs a good solid, updated strategy. This strategy needs to be created together with an experienced coach or mentor. This coach needs to have the education, experience and ideas to counter the ever evolving markets and business conditions.
Just trying to do the same old, over and over in business, does not, and never will get different results. We are called to drive forward, counter any opposition and implement our creative strategies each and every day.
If you find yourself like a losing team, maybe it is time to find a better coach.
EI introduces BoB (Bruce on Business)
BoB is the new YouTube series that EI has given birth to. This series is aimed at empowering both you and your business. On this series we are gonna have a number of interviews, a couple of interesting topics that will be of great help in growing your business and entrepreneurial tips. We will also have a look at what’s in the business library – where Bruce will share a little bit of what he is currently reading.
This series is gonna be in an interactive set up where we will talk to and with you. It’d really be great to hear from you after every topic. Your comments and views are very important. Please subscribe here and watch the series where we help you grow your business.