How do I reduce my chances of failure?
We all want to succeed...faster. We just don't know how. Are there any general frameworks etc you've followed to do this in business and in life?
We all want to succeed...faster. We just don't know how. Are there any general frameworks etc you've followed to do this in business and in life?
The best way to reduce your chances of failing is by failing more.
Was thinking the same thing.
The only way to learn and ultimately, succeed, is to fail early and often.
Later you come to conclusion that just failing is not enough. You need to fail in a smart way. Our life is limited and you can't just have infinite number of attempts.
To find a great idea, start spending less time with the bad ones.
This comment was deleted 4 years ago
You can reduce your chances of failure by de-risking (major) decisions by simply pondering decisions much more intensively. What are pros, cons? Upsides? What's step 2,3,4,5,n after you make this decision? Etc.
Sure, making more decisions will also help, but in my experience failing more is painful and not that helpful in the long run. I prefer to fail less, and when I do I prefer to have had a guesstimated probability for failing before I made the decision.
hi Jan, nice comment! Made me wonder if you have a process for "pondering" your decisions? I'd love to know how you de-risk your decisions. 😀
Keep experimenting with different things in rapid succession.
Entrepreneurship is a lot of trial and error.
If something works, triple-down and run with it.
If something seems sluggish, cut it and move on to something else.
This can apply to both business ideas and marketing strategies.
Work everyday. Do more work. Learn more. Apply what you've learned.
Learn from others. Study and copy those who have succeeded in endeavors that are similar to the ones you want to do, and who have done things the way you want to do them.
Common advice is to fail often and fail fast. I think failure is part of the journey and this is good advice. But I also think it's also dangerous advice because I see lots of people repeatedly making the same mistakes that others have already made thousands of times. Yes, sometimes you have to personally make the mistake to really learn the lesson. But if you can learn from others without failing yourself, you've saved a lot of time.
Also, there are millions of ways to fail, and only a few ways to succeed. You will never finish studying or discovering the myriad of ways to fail. Study only the most common paths of failure (to avoid those), and spend most of your time studying the handful of paths to success.
Your best bet is to FAIL MORE.
By failing, you’ll learn. Nobody in this world makes it without failure. Not even rocket scientists. And you saw what happened to first rockets of SpaceX, right? I mean, if they can spend hundreds of millions and still fail, why can’t you. What are you so scared about failure?
Isn't the best way to success actually failing and improving
Consistency is the key!
I can't stress this enough. My company, Instant Logo Design
just started several months ago, and our team just consistently focus on our in-house strategy, especially SEO, until we we're able to reach ramen profitability.
It's not the best result or output for startup, but it's definitely an achievement. Likewise, I believe that keeping the same steps or strategy (that works), and adding more strategies for better output can help.
You can't fail if you don't try. So just don't try.
If you do want to try then think of "failures" as lessons you successfully learned. Then you would never have failures.
In a peaceful mind, you don't fail if you don't try.
In hustle culture, you fail every time you don't try.
So change your mind accordingly :)
I didn't "succeed" so the working framework suppose to be the opposite. That should work, right?
Don't judge yourself according to the social norms, other's definition of success and you'll be good. Have another cup of coffee whenever you need a dopamine hit. Problem solved.
Success, sex, coffee all hit the same area in our brain.
If you try, you are ahead of the rest, enjoy that part, the process and the progress.
Join us in the Wbe Space and get external opinion and support and learn from other bootstrappers
In the WBE Space we are about to start an accelerator program for bootstrappers. Groups of 5 entrepreneurs will define goals and for 10 weeks will meet every week to help each other and discuss their achievements and challenges. After that there will be a demo day. I am excited to try out this framework