Failure is a stepping stone towards success. But the information that you gather only has power when it is applied to real life situations. Failure is Feedback when you can learn different lessons from the failure, which puts you on your way to success.
- It is easy to feel like a failure when something does not work out.
- It is first instinct to feel disappointed when your project or start-up fails.
- At that moment, you could not care less about feedback from failure.
Sir Richard Branson (notice how the British give titles to their successful business persons) had poor reading and math skills, dropped out of high school and was dyslexic all of his life.
At age 16, he almost went to jail for publishing remedies in his Student Magazine venture.
He did go to jail for 1 day over tax issues with Virgin Records.
His other flops include:
- Virgin Cola
- Virgin Vodka
- Virgin Vie
- Virgin Brides
- Virgin Clothing
- Virgin Digital
- Virgin Cars
Branson: “Learn from Failure. If you are an entrepreneur and your first venture wasn’t a success, welcome to the club.”
Net Worth: $4.6 billion (but that was before his space shuttle blew up)
Howard Lipset, CPA
Progressive Management, Inc.