Fail Forward
by Ted Nicholas
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“The secret of success is to go from failure to
failure without any loss of enthusiasm.”
--Winston Churchill
With all due modesty, I have perhaps experienced more marketing success in my own businesses than
any other person whose audience is entrepreneurs.
So then, does the subject of failure really belong on these pages? My answer: Absolutely!
Indeed, I don’t know of a more important success subject.
Reason?
I submit you can never succeed big until you first discover how to fail. And that it’s OK, and even
desirable, to fail.
Plus, I’ve never seen or heard anyone talk about the subject in a realistic way.
Lest I be misunderstood, I’m not advocating being cavalier about any of your endeavors.
Indeed, doing all you can do to succeed in every activity is the path to high performance.
However, let’s say you or a loved one fails a subject in school. Providing you’ve applied yourself as best
you can, nothing terrible happens.
You can always take the class over or change subjects.
Why spend endless hours punishing yourself or
others? It’s not fair. And it’s a waste of time.
First, I’m going to show how to develop “an immunity to failure.”
I feel I’m eminently qualified to write about failure. While I’ve been blessed with a success level beyond
my dreams, contrary to popular belief, in marketing
and copy campaigns I’ve failed at least three times
more often than I’ve succeeded. And this continues.
With new businesses of my own, my record is 21 successes and 2 failures.
My experience in direct marketing is not unique. A friend, Joe Sugarman, famous for BluBlocker
sunglasses and one of the best copywriters ever,
states he is thrilled if one out of 10 marketing
campaigns is a success. And his prime audience is consumers, one of the toughest to penetrate.
With copy projects for clients, especially for an entrepreneurial or health audience, I have major
successes about 3 or 4 times out of about 10
attempts.
Here is the good news. If I succeed just 10% of the time, I continue to earn fortunes for my clients.
And since I usually own equity in the company, for
myself as well!
Tip: The secret to marketing success—risk small and “roll out” big.
Indeed, while they may not publicize it, every highly successful person I know, whether an entrepreneur,
politician, or executive, fails far more often than they
succeed.
So do the world’s best athletes.
On your path to success you, too, will undoubtedly fail far more often than you will succeed.
Here is the important point. It’s not your failures that can cause you the problems. It’s how you react
to them that makes all the difference.
When many people experience even a single marketing setback, such as an ad that doesn’t pull,
they get so discouraged and down on themselves they
never try again.
Of course, it doesn’t have to be this
way. It’s a choice that’s within your power.
In Europe and Asia in particular a failure of any kind, especially in business, is considered shameful.
Unfortunately, it’s even socially unacceptable.
For example, at least two entrepreneurs I know in Switzerland didn’t succeed their first time out. Now
they do not even show their face at our tennis club.
They are too ashamed!
This aversion to failure keeps the vast majority of Europeans from taking risks and becoming
entrepreneurs.
The most forgiving country in the world as to risks,
setbacks and failures is the U.S. The willingness to
accept and forgive setbacks and allow people a
“fresh start” is one of the biggest reasons for
capitalism flourishing in America.
But many people are thwarted by the fear of failure.
They often are defeated before they begin. Or they
collapse at the first sign of trouble.
** How to develop “Failure Immunity” **
1. Risk failing more often in every meaningful
aspect of your life. Surviving and prospering
the setbacks interspersed with success gives
you strength.
Here are some examples of positive risks:
(a) Dating. I was in high school when I made this
important discovery. Nearly all the prettiest, most
intelligent young women were spending most
Saturday nights at home alone. When I asked a few
of my friends why they were not asking out these
eligible people, their typical reply was a big
surprise to me.
They said, “She might say no.” The mere thought
of hearing a “no” caused them to be frozen with fear!
So, I started asking out the “dream” dates. Result?
Most enthusiastically said “yes.”
Even on a few occasions when I was turned down -
e.g. “I have a boyfriend who lives 60 miles away” -
it was not at all unpleasant. In fact, it didn't hurt
a bit.
Tip: If you are single, politely ask out the most
appealing and intelligent person you know. Your
invitation will undoubtedly be received favorably.
Remember this. If you don't ask, the answer is
always NO. You, of course, may be turned down.
But the potential for a great evening and possible
long-term relationship will be a delight for you.
(b) New friends. If you'd like to meet or get
to know an interesting new acquaintance, don't
wait until they contact you. This, of course, may
never happen. Simply contact them. Invite them
out for a meal. A well-written note or e-mail is
a good first contact strategy. Breakfast or lunch
is less intimidating to most people. All through
my life I've gotten to know some of the world's
most interesting people in several countries this
way. I count several as my close friends today.
(c) Test as many ads, sales letters, e-mails and
marketing campaigns as you can afford. Be
realistic. Don't expect 100% success. Keep your
risks small. If you are successful just 5% to 10%
of the time, you will become an enormous financial
success.
(d) Start the business of your dreams. You only
live once. Find your passion. And build your
business around it. Even if it ultimately flops,
nothing bad happens.
As I previously mentioned, I've started 23
companies of my own. I failed twice. You
know what happens when a business fails?
Absolutely nothing!
You'll discover the world goes on. And as long
as you have been completely honest with suppliers,
employees and investors, etc., you can start again.
Note: When I interview older people and
ask what they regret, it's never what they've
done. It's what they haven't done. Don't
live in regrets. Take the risk now. There is
no perfect time to start your dream business.
There is no progress in life without risk.
Tip: Don't ever “bet the ranch” on an ad, a
product or a business venture.
I like the way my old friend, the late Bill Gore,
founder of GoreTex, who was an avid sailor
put it. As an employee in his worldwide
business, he encouraged you to take risks.
However, he had just one condition. No risk
should “go below the waterline.” On a boat,
if you develop a hole below the waterline, the
ship sinks. So will a business.
A few notable failures with whom you may
be familiar include:
Walt Disney went bankrupt four times before
finally succeeding.
F.W. Woolworth failed five times before
starting his successful 5 and 10 cent stores.
Milton Hershey's chocolate enterprise was
his third business after failing twice.
Bernard Gimbel failed seven times prior to
beginning his department store empire.
Ray Kroc, founder of McDonalds, the world's
largest restaurant chain, was 57 years old, a
struggling salesman of malted milk machines
with little previous success before he borrowed
100% of the money to buy out the founders.
Abraham Lincoln failed in business three times
And failed seven times in his attempts to win
political office prior to becoming President
of the United States.
Henry Ford was a failure at three businesses he
attempted before finally succeeding with Ford
Motor Company at age 53.
Babe Ruth is famous for his home run records.
A lesser known fact is that he also holds the
world's record for the largest number of strikeouts.
Tip: Reframe failure. When something flops,
the most important word for your self-talk is NEXT.
The key point to remember is this. When any
project you attempt fails, you as an individual
have not failed. And you will always get a result
from any action taken. Always separate the result—
whether success or failure—from yourself
personally.
Celebrate your failures as well as your successes.
Each failure if used constructively brings you
one step closer to your goals.
Use the above principles to immunize yourself.
The result will be you will fail forward.
Also remember this. If everything you did was
successful, life would be incredibly boring.
Where would be the challenge and the fun?
Tip: Value knowledge. Most people don't realize
this fundamental truth. You can lose all your money
in business. But there is one thing that can never be
taken away from you. Your knowledge.
Read at least
one hour a day. Study . Attend seminars. Your
knowledge is always your best investment.
Tip: Learn to sell. Study direct marketing, the best
sales training in the world. Once you master this
skill you can succeed in any major city in any
country in the world. I will continue to do all I can
to share with you at my seminars and on these pages
the principles of direct marketing that is proven to
work in the real world!
I'm happily on my way to my next project. It may
succeed. It may flop. If so, I'll go back to the
drawing board. And say NEXT.
My favorite poem is “If” by Rudyard Kipling.
You may recall these powerful words from it: “If you can meet with Triumph and Disaster
And treat those two impostors just the same.”
The “failure monster” is much worse in your
imagination than in reality. Don't let it scare you
out of achieving your dreams of success.
Your editor, dreaming of my next success,
Ted Nicholas
Nicholas Direct, Inc.
P.O. Box 877
Indian Rocks Beach, FL 33785
727-596-4966
E-mail: tnicholasdirect@aol.com
www.tednicholas.com
P.P.S. "The secret to success, in life and in
business, is to work hard at the margin.
Relentlessly. It's as powerful as compound
interest, the eighth wonder of the world.
Those little marginal extra efforts will
inevitably grow into something big."
--Bill Bonner
Little things mean a lot.
"God is in the details."
© Copyright MMIV Nicholas Direct, Inc.
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The Success Margin is a free, bi-monthly service provided
by Ted Nicholas, best-selling author of "How to Form Your
Own Corporation Without a Lawyer for Under $75" and "Magic
Words That Bring You Riches"
Please feel free to forward a copy of this newsletter
to a friend.
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Copyright 2003 Nicholas Direct, Inc. |