July 5, 2012, 6:00 am

The Brief Guide to Dealing With Failure

by: MD    Category: Financial Planning
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“Who fails the most usually wins.” — Seth Godin

I recently read the book, Poke The Box (Seth Godin), and totally loved the general idea behind it. This book got me thinking about the idea of failure and taking risks in your 20s.

After reading this book, going through personal experiences, and reaching out for feedback, I wanted to put together the brief guide to dealing with failure.

My thoughts might be a little bit scrambled. I just wanted to get all of my thoughts on failure out there in one article.

You can’t always play it safe. This is my main belief when it comes to trying new things and failure. Obviously nobody wants to fail or be viewed as a failure. However, that’s the risk that you take when you don’t play it safe. That’s the risk that you take when you do something a little dangerous.

There’s also the other side to not playing it safe. You can see some huge rewards. You know the classic saying, “the greater the risk, the higher the reward.” This holds true both ways. Great risks could lead to failures or they could lead to a huge success. You don’t have to look far for examples.

Being realistic isn’t about giving up. Too often do we avoid doing something, give up, or play it safe just because we want to be realistic. I find that being realistic is just an excuse to give up. I don’t think Mark Zuckerberg was worried about being too realistic when launching Facebook.

I totally recommend getting in the habit of starting things. It’s important that you plant. Following trends and doing the same stuff as your friends is easy. The real risks come in starting different things. This is why sometimes you have to throw yourself out there and see what happens. This is what happened with my first eBook launch. I started something new and learned from the experience.

At the end of the day you need to remember that failure is not fatal. Failing is just an event. One idea doesn’t work. You have the opportunity to give up or move on to the next plan. Failure isn’t the end of the world and it certainly isn’t the end of your goals. It’s just a one time thing. What’s the big deal?

Remember my article on the full-time blogging reality check? I vented about how the launch of my first premium guide was a complete failure. I was totally frustrated that I put in so much work into something and saw no results. When I wrote the article I felt like giving up because I had failed. Instead of feeling sorry for myself, I decided to go back to the drawing board and work on something new. Recently I released Start Freelancing Now and sales have been much better this time around. I also love the concept and have been able to coach some really ambitious people.

I plan on going and going. I’ll likely fail many more times, but who cares? Who remembers the failures?

You can compare this to your romantic life. If you didn’t take the courage to ask your current partner out, you would be regretting it. If you never took a chance or put yourself out there, you would feel much more worse. Not trying is a lot worse than failing if you asked me,

The truth of the matter is that not starting is expensive. Failing is cheap. Not starting means that you don’t do anything. It means that you don’t take action and don’t try anything new. Do you really want to regret not starting?

Have you failed at recently? Have you tried anything cool? Share your failures and we’ll laugh together.

“Just hanging out has nothing to do with boldly going where no one has gone before.” — Seth Godin

 

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Comments

I have been learning to so home improvements like replacing doors. I haven’t completely failed but some of them turned out less than perfect. I am OK with that though because they are so much better than what was there before and I am indeed learning.

I have been trying to experiment on new dishes that I find on the internet and see on cooking shows on TV. Some are successful because my family loved them so I prepare them again after two or three weeks. However, there are also failures because it was poorly cooked or the taste is not palatable to them. In these cases, I try to re-invent the dish according to their taste, try a different version of the dish, or prepare a totally different one.

I’m taking my leap of faith today as announced on my site 7/8. I’ve played things conservatively for so long that now I feel it’s time to shake things up!

wow! congrats Sam!

now that you are independent, will you reveal you face and identity? 🙂

Can’t forget the importance of finishing things too! I don’t have the studies handy, but finishing things no matter how small has an effect of building up motivation even if the end products are failures.