Is Failure an Option - Yes or No?

Recently I receive an email from a member of this network who sought out my advise with regards to why her online business was not working out as expected. This person went on to say they had done their due diligence, not to mention invested heavily into marketing this business. Bottom line the business was not turning a profit. It was becoming a "Money Pit".

This person was a very dedicated participant, and not one to give up easily. She asked me what can be done to at least break even. She just hated the thought of walking away after all the time and investment she had already made.

After a couple of days of exchanging emails and discussing her situation. My advise to her was, "try not to look at this case as sticking with it till you recover your losses. It may never happen (as the saying goes, you can't squeeze blood from a turnip). Add to that, when you find yourself in a hole (or money pit) stop digging! Before you're too deep and can't crawl out."

"The way to recover your losses from a case like this is to "REALIZE" when something is not working, and then stop, rebuild, and move on (that is priceless). With your new knowledge your chances with your next venture will be more likely to succeed."

She wrote back and bravely told me she made the decision to cut her losses, close shop and rebuild a new. But ended with this closing statement.

"I just hated saying I failed at the online store."

My response to her was...

"One of the biggest rejections humans dread and perceive as a failure... is the 2 letter word NO! Here is a tip salesmen use to reach their goals. There was a study done that showed, for every 5 NO's there was 1 YES. So salesman as you have probably experienced ask allot of questions to get to that YES! The lesson to be learned? The more questions you ask, and experiences you experience, good or bad, gets you closer to the ideal situation. That's not FAILURE, that's PROGRESS!"

So my question is: Is Failure an Option - Yes or No?

Continued Success,
Robert Mesa - Profile Page
Website: SiliconPost.Com

Tags: business, failure, management, marketing, options, tips

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Permalink Reply by SUp.biz, COO on January 8, 2009 at 3:37pm: I agree this post was great.

At the end of the day, failure is where breakthroughs and opportunities lie. The biggest successes I have had in my life and businesses have been after major failures. When things are going great we tend to get caught in a rut and cease to grow.

Failure is going to happen. In a startup, you have to being willing to close up shop and start over if you are not turning a profit. If you are a newer or established business, then you have to be willing to change the entire direction of the company if you see the water hole beginning to dry up.; ▶ Reply to This

Permalink Reply by Robert Mesa on January 8, 2009 at 6:10pm: COO,

I agree.... you make an excellent point, "failure is where breakthroughs and opportunities lie." Take this into heart and you will over shadow any obsticles.

Thanks for sharing,
Robert; ▶ Reply to This

Permalink Reply by Lesly Federici RN, CWC on January 5, 2009 at 2:33pm

I have to say how I hate hearing stories like this. Having been there myself I totlally understand. For me it was a change in mindset and coming to terms with personal gremlins that were getting in my way: fear of rejection, not good enough, could I really do a presentation! Cold calling ? Who me? And of course attitude and realizing that I am in the people business, not product business.

When I was able to turn these around, bussiness got better! Because my genuine enthusiasm shows and I have tremendous respect for what I do, my clients, customers, and a belief in myself.

It's very hard when you are doing a business and you don't have the support and the inspiration to feed your mission. I love this saying, it's part of NLP (neuro linguistic programming) "there is no failure, only feedback."

Great post!
My best,
Lesly

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Permalink Reply by Robert Mesa on January 5, 2009 at 6:19pm: Hi Lesly,

Thank you for reading my article... and thank you for sharing the fact you too, have had similar experieces, and feelings with this concept of "Failure". Which proves (as the saying goes) this is not only happening to me!

P.S. I have to read up on this NLP (neuro linguistic programming). I've seen the NLP notation but not looked into it much. Thanks again for sharing.

Continued Success,
Robert Mesa; ▶ Reply to This

Permalink Reply by william clements on January 5, 2009 at 2:55pm: Robert,

In the context that the word "Failure" is an opinion to the business owner or sales person. I have a social network site and my goal is 1000 members well I want to "fail" instead make more than that. It can be good or bad depending on the context so yes it is an option if good and no if bad.

William Clements; ▶ Reply to This

Permalink Reply by SUp.biz, COO on February 3, 2009 at 11:19am: 1000 members is a great goal.; ▶ Reply to This

Permalink Reply by Linda Marie on January 5, 2009 at 3:04pm: Nice post! Failure is an interesting concept. I have lost thousands on trying new things and even though those opportunities did not work out the way I had hoped, I still learn what I needed to learn to take the next step. To me I can only fail if I stop trying to reach my ultimate goal, which is to be successful in my own business, on my own terms. I could stop here and take a position with a company that would take care of all the money issues, but that is not my goal and that would be a failure I could not live with. So I would rather have little failures along the way and know that in the long run I am not a failure until I give up on my dream.

Blessings

Linda Marie; ▶ Reply to This

Permalink Reply by Robert Mesa on January 5, 2009 at 6:09pm: Hi Linda,

Thanks for reading my article. I agree with the little failures you spoke about. I think those little failures put us back on the right path.

Continued Success,
Robert; ▶ Reply to This

Permalink Reply by Bunny Parkinson on January 5, 2009 at 3:07pm: This is a wonderful Post.
I am a newby I can understand her frustration. My thoughts on failures is, No matter what we are doing. If we do not make it online we will make it at something else. It is the Failures in our lives that makes us stronger, more disciplined & BETTER Character.... Failure is a mentality.
Lack of ACTION is the only FAILURE~ SHE DID NOT FAIL SHE GREW!
Knowing when it is time to move on even when all are saying hang in there it will happen!
In it's self is her victory!
CHOOSE to see it as a learn not a burn!

Awesome Post
Bunny; ▶ Reply to This

Permalink Reply by Amber Whitman on January 5, 2009 at 5:42pm: First of all this piece was interesting. It is shame that the woman had to lose her store. However, I would agree with you. If you are losing and not gaining then it is time to cut your losses. I think that we all fail at things in our lives. That does not make us weak, or stupid or less of a person. It is just a fact of life whether we like it or not. I think that you just need to pick yourself up and carry on and try the best you can whether it is another venture or trying the same venture with a different twist. We all have the capacity to do good, but also remember we could fail, and that is okay too~
Amber Whitman-Currier; ▶ Reply to This

Permalink Reply by Robert Mesa on January 5, 2009 at 6:05pm: Hi Bunny,

Great line to remember: "Choose to see it as a learn not a burn!"

Thank you for reading and commenting on my article.

Robert; ▶ Reply to This

Permalink Reply by David Ogden on January 5, 2009 at 6:42pm: Failure is certianly not an option, when taken in the context of lifetime goals, life has its ups and downs and one learns from them.

Times are bad for many people at the moment as they struggle to succeed but success takes time not months but years. One needs to focus on your goals and from time to time modify your plan of reaching your goal.

Stay focussed and you will not fail!

David Ogden
Tomorrows Home Business
+1 386 308 1956; ▶ Reply to This