Your business will probably fail
Give it your all anyway.
In the entrepreneurial journey, failure is often viewed as the ultimate setback.
But what if I told you that failure is not just inevitable, but a necessary step towards your ultimate success?
This might sound counterintuitive.
But the lessons learned from failures are invaluable and often pave the way for future triumphs.
The Reality of Success
The path of entrepreneurship is seldom smooth. It’s filled with unexpected twists and turns, and yes, failures.
One of my clients is in the restaurant business here in Singapore.
In June of 2023, I walked past one of his restaurants and saw it had closed down. Just last month I saw another of his restaurants had closed down.
But last week, he contacted me to get menus designed for 2 new restaurants.
I was fascinated.
Most people would’ve been disappointed if their first restaurant didn’t make it. They would’ve thought, “I’m not cut out for this.”
Last month, I met a co-founder and CTO of a marketplace platform.
He was on the Forbes 30 under 30 list and is the same age as me.
His company makes US$12 million a year and he takes home half a million annually. And he told me that this business is his 6th try.
Starting to see a pattern?
And speaking of failures, I’ve had my fair share.
Before the “success” of my agency, I had three businesses that didn’t take off.
They cost me years and $1,000s, but they taught me invaluable lessons.
Without these 3 failures, I wouldn’t have been able to make a living off my agency.
Get Excited to Fail
Starting a business is a leap of faith, with the understanding that failure is a likely outcome. But it’s in these failures that we find the most growth.
We learn, we adapt, and we come back stronger.
Your failed attempts are not a waste. They are meant to teach you things.
When you start your business, give it everything you’ve got.
If it doesn’t succeed, it’s not the end. It’s a step closer to your eventual success.
This mindset is crucial in the world of business, where the only true failure is not trying at all.
Final Thoughts
So, as we wrap up, remember that failure is not just a possibility, it’s an inevitability in the journey of entrepreneurship. But it’s through these failures that we learn the most.
They shape us, prepare us, and eventually lead us to our successes.
Keep pushing forward, keep learning, and remember, every setback sets the stage for a bigger comeback.
See you next Saturday.
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