Failure is a Necessity

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It’s a fact we must deal with.... Not all of us will succeed right out of the gate, if at all. As depressing as that sounds, we must accept failure as a necessity.  It's okay to fail.  But it's not okay to give up on what you hope to achieve.

According to Bloomberg, eight out of every 10 entrepreneurs will fail in the first 18 months. Can you believe that? Up to 80% fail…

But it’s the driven that get up and try again…

In my many years of business (I’m still a young man), and through exposure to hundreds of businesses, I’ve seen plenty fail… get up, fail again, and get back up, only to succeed…

The key to succeeding and not allowing that 80% figure to scare you is your acceptance to take on necessary risk.

At one point, Thomas Edison was told he was too stupid to learn anything. He went on to hold 1,000 patents and create the phonograph, an electric lamp, and the movie camera… Walt Disney was once fired and told he lacked imagination and had no good ideas. Steven Spielberg was shut out from the University of Southern California School of Cinematic Arts countless times.

But as billionaires like Mark Cuban will tell you, “It doesn’t matter how many times you fail. It doesn’t matter how many times you almost get it right. No one is going to know or care about your failures, and neither should you. All you have to do is learn from them and those around you because all that matters in business is that you get it right once. Then everyone can tell you how lucky you are.”

Drew Houston, CEO of Dropbox was quoted as saying, “Don’t worry about failure; you only have to be right once.” Or, as Bill Gates once said, “It’s fine to celebrate success but it is more important to heed the lessons of failure.”

Bottom line… Even if we’re 80% likely to fail at something, take the chance and try anyway. We live once. Make it mean something.