Discussion in 'General Business and Entrepreneurship' started by Marz, Jan 20, 2016.
So man, how many times have you failed in new projects, websites etc?
What was the most costly?
I nvere faild because unfortunatle I have never had the gut to try anything at the momemnt. how about you??
I've failed a million times!
For every success story I have, I can probably name another 10 failures that never took off, made money or flourished into what I wish it had.
Last year was actually a very frustrating year because I was working on a big project and it wasn't going as planned. I put something like $30k+ into it, then eventually scrapped it and had to start from scratch.
Unfortunately this is how the world of business is, but you do learn from every failure.
One of my best takeaways from all of my successes and failures is to KEEP IT SIMPLE. For me, my most successful projects have been the ones that were simple (versus complex)
I failed a few times, different ideas that I should have followed up on but didn't, then there was ideas that died but I kept flogging and trying to make work, it happens to most people.
You very rarely find anyone who just stumbles upon an idea and becomes an overnight success and millionaire. Well, I've never met one that didn't break the law to do it, put it that way!
I failed so many times I cannot count them anymore. The good thing is, they aren't that costly since most of my ventures are online. But the thing is, no matter how many times you fail, the important thing is you know how to get back up. Don't even count the failures or the mistakes, even the money lost, because you will be able to take those back. Focus on your goal and pursue that because in the end, it doesn't matter how many times you fall. It matters how many times you stand back up.
It's true that with every failure there's a lesson to be learned and it's important to learn it, and make sure that you don't make that same mistake again in the future.
It's easy to give up after failing but that should never be an option and you need to believe in yourself constantly, no matter how things are working out and you need to believe your hard work will pay off eventually.
I worked with a developer from India using Upwork.com to create a fitness concierge application. After 3 weeks of work and about $4,000 in development costs, my end product was grade-A crap, so I scrapped it and moved on to the next idea. After failing millions of times, do you ever get over the initial ego sting of failure, or does it still hurt the same but you deal with that pain better?
Oh, a few thousand times. Starting with my childhood desire to be a famous pony rider and ending (thus far) with my inability to get tenure. I believe in failing efficiently, often, and upwards.
I have failed many times, when I fail I don't try to attempt the same thing again, for instance, if I fail at opening a clothing store, I never try open clothing store again, I look for new avenues. I failed first time when I was 21 and I tried to set up my publishing service.
I have failed more times than I would like to remember. However, failing is a part of learning and I can say I have learned more than most people my age. The important part is to not give up; that can be extremely difficult but it's important. Most times we will feel that voice in our head wondering why are we doing what we do, but you have to believe in yourself. It also helps if you have someone that can encourage you and give you practical advice like a mentor. I think my biggest mistake is starting without a moral support. I feel most people who have someone to encourage them, like a wife or siblings, do much better.
I have already failed a couple of times before. Probably because I am just good at starting something, but wouldn't be able to sustain it in the long run. It really sucks, but I am trying to stay determined and committed to my goals now. I know I can do it. I'm still positive.
When I was still younger I had a business twice but unfortunately both was a failure that is why I decided to closed it. Maybe because I am still young at that time and lacked the necessary experience of being an entrepreneur. If you are into a business it is either you will succeed or failed and that is the reality. But I had learned that even though you failed many times in your business it is not the reason for you to give up easily. And we must remember that every failure is the opportunity to learn something new and better.
I've been pretty mediocre my whole life, unfortunately. To be honest, I don't know. I've had tens of websites, tens of ideas, but somehow, until I was forced by the circumstances to put in some 120% effort, I've never had any major success.
As for my personal life, I've failed a lot of times. I failed the admission exam in the medical school twice, but I am still refusing to quit the idea.
Many times. Although, I am so positive, that I never felt pressure or ashamed of my failure. I was always positive. This irritated a lot of my business partners and a couple of my ex-girlfriends. And because I stayed at it without getting disheartened I eventually succeeded and now basically replicate my formula.
I have failed so many times, and at this point is say the amount is more than I'd like to admit, and I have lost a bit of time and money on those too but I am okay with that. It's the times when I lose other people's money that guilts me the most. Thankfully I have not lost that much both for myself and others because I always try and start small so I don't end up getting blindsided and I think that has helped with keeping me staying positive. It's definitely one advice is give to anyone looking to learn or build a startup because there's really not much reason to risk too much especially when you are still relatively inexperienced.
I have failed more times than I can count, but also had some grate successes.
The most costly mistake I made was my first run at ecommerce. I had a clothing store, the domain name sucked, the suppliers sucked even more, and the biggest expense was information (information which had all the promises of being information you will never find for free, like reputable suppliers) and turned out to be the exact information I had already found for free. Even this failure was valuable as i pursued legal action (95% of the suppliers linked to had been out of business for years, so what was advertised as a list of 1500+ suppliers actually turned out to be more like 10) being broke, I had to research all the government regulations around their business model, then every time they sent me a reply cross reference that against the regulations and reply telling them why they, what they said was irrelevant as it was covered by other regulations that entitled me to a refund of all the funds paid. I still consider this to be a massive victory, as they finely realized they cant argue with me because i will keep sending them links to the regulations that they are not following. So the business it's self failed, the supplier i had found in the end, turns out their wholesale price was about 1.5x the retail price, and their start up boxes that seemed like good value (box of assorted stock to a set value) were actually based on their value of the product which was 4x the retail price. So im guessing it should be classed as a failure but it thought me so many lessons I would actually right it up as being a very expensive success.
When I started trading forex I used to think that I could make a lot of profit at once. My friends used to motivate me but I failed to keep the rules because of greed. I made a loss of $500 which made me to completely stop trading forex.
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