Failure is an investment with compound interest.
No one successful did not fail before or after achieving success.
We have the wrong image about failure, as if it is death and the end of all.
Failure is a lesson on the steps of success. I failed many times on so many things before I found my success.
Allow me to draw an image for you.
When you think of failure think of a sales funnel.
You have to sell your product to so many people, maybe 100 or 1000, before one or two buy it. Because of all the failures to sell to all these people you learn how to improve your product to meet more people needs with it. You also learn how to convince more people to buy quicker. You learn how to filter out non serious buyers.
You have to fail selling 98 customers to succeed selling to 2 people. Scale that and you have a successful business conversion rate if your cost doesn’t exceed the conversion.
Apply this to business ideas, inventions, or anything else, and you get the same thing. It’s a matter of statistics. You can try to invest all you have and take a big loan to make your first business idea and you will take the biggest risk and make the biggest mistake of your life.
It’s better for you to try many small tiny projects without debt, and fail 10 consecutive times before hitting success, and grow it from there.
Failing each project will teach you to improve the next project to deal with the reasons the previous ones failed, while adding to the success factors from the previous failures. That’s when failure became a compound interest investment.
You have to manage your failure rate and improve your success statistics chances.
Would you rather have a try at one thing, whether it fails or succeeds, but if it fails you can’t try again for 25 years (let’s say because you took huge debt and forced to pay it back for 25 years)? Or would you rather try thirty times and be able to try again one to three months after each failure?
I rather fail 30 times and be able to try over and over again rather than fail once and not be able to try again.
The beauty of failure is that it levels you up with experience that can’t be found in books, specific to your case.
Treat failure as a tool in your life, not as a consequence.
Be proud of your failure because it’s your experience and what’s your success made of.