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Here’s why failure breeds success

Everything that seems easy today was once difficult. Richard Branson

All successful property investors, business people and entrepreneurs have had their share of failures.

In fact, they’ve had more than their share of failures as, in general, they’ve attempted things more than others.

Look at the already successful Richard Branson.

Over the years he has had to close down businesses that were losing money with no evidence of a turn around.

Arguably, he made bad decisions and bad investments.

And I dare say if he lives long enough and remains active, he’ll do so again.

While multi billionaire Donald Trump has been involved in many successful real estate deals he has also had many deals that failed.

He’s been sued or threatened suit by investors, and his licensing and speaking deal with the company using the Trump University brand has bitten him in the backside. 

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I’m not even going to mention his current round of failures, but presuming another decade of active entrepreneurism, these won’t be the last sour real estate deals he’ll undertake.

Disney, which is one of the most prolific producers of movies, has also brought out some huge flops.

Examine almost any shiny success, and on its flip side, you’ll find grimy failure.

How do you feel about that fact?

Have you heard the story of the cat that stepped on the hot burner, then not only wouldn’t ever jump on the stove again, but wouldn’t even come into the kitchen.

This is how most people feel about and react to failure, particularly embarrassing and humiliating or expensive failure.

If they experience it once, they never want to go in the kitchen again.

One punch in the nose is all it takes to knock them out.

The truth is success scares most people.

There are also, always, the exceptionally successful individuals who are, in various ways, failures personally. 36851472 L

The famous magician Houdini failed at almost nothing, except to control his own ego, which, very directly caused his premature and unnecessary death.

When you read the biographies of most exceptionally successful people you’ll find they are not even close to “superior” – in fact, most are horribly flawed, but manage to rise above their own foibles.

My own history includes a graveyard of mistakes and failures in my personal life, in business and in investment.

I am not consistently and certainly successful.

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If I were I to try and describe all the miss-steps, mistakes, misadventures and misfortunes, it’d be best to do it like an old-fashioned encyclopaedia, with a thick volume for each letter of the alphabet, the entire set consuming several shelves.

And I’m not done making mistakes.

If your success game plan features being right 100% of the time and never making mistakes, you’ll be playing the game for only a short time, timidly, and without distinction, or you’ll rise high and fast only to fall just as fast and crash as hard as can be.

The ironic fact is, the game is won by losers.

If you aren’t floundering or outright failing at something, you probably aren’t doing much of anything.

You have heard the cliché: success breeds success.

It does.

But what you don’t often hear is the other, equal truth, that failure is the other parent of almost all success.  inspiration success hard wrok

The goal of success can never be to avoid failure, but to manage it, minimize its harm, extract its lessons, leverage it in every way possible, rise above it, and know that it will be forgotten and made irrelevant in time.

Michael Jordan claims he’s missed more than 9,000 shots in his professional career.

26 times, he had the game winning shot in his hands, missed, and lost. 

He said, “I have failed over and over and over again in my life – and that is why I succeed.”

So the lesson is if you want to be a success, you’ll first have to fail.

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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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