Thread: The only kind of failure that won't teach you anything.

I'd rather crash and burn than never takeoff.

Unfortunately, not all people think this way.

Originally Posted by Ivan

Inaction.

I think its important not to confuse "I keep trying and failing" and "I'm failing because I'm not really trying".

I see this here too, and a lot more I care to admit. Buying a bad domain name, installing Wordpress and writing a few blog posts really isnt trying, but more of an action fake.

Nope. My problem is exact opposite. Sometimes I need to calm down and not jump on every single thing that I can! Hyper active to the extreme!

Originally Posted by Dan Da Man

Nope. My problem is exact opposite. Sometimes I need to calm down and not jump on every single thing that I can! Hyper active to the extreme!

Oh I know exactly what you mean. I think it's the entrepreneur's disease. It's fun to plan out a possible business and daydream about how big it can get. It seems like a lot of people get addicted to that feeling. They quit when they don't experience instant success and move on to the next exciting thing that gives em the rush.

I think those entrepreneurs are a dime a dozen, and I personally am trying damn hard not to be one.

I don't think I suffer from it..I just get discouraged occasionally and slack up. Then within a few days I'm back at hittin it hard.

There is no such thing as failure, there are only results. Part of being a good Entrepreneur is you have to be able to identify the variables that went wrong that caused the result AKA "failure".

It looks to me like most failure happens because Entrepreneurs start off with the wrong premise. Usually Vanity(I wanna start a t-shirt company so I can be just like Ed Hardy and get chicks at the club!!) and Selfishness("Fuck value and the market I wanna make some $!"). After you get past those two failure is usually a result of an analytical problem with analyzing the NEED; Market changes, industry changes, consumer preferences etc.

This is why sometimes its actually a GOOD thing that your idea is already being done. Because someone else has already taken the risk of testing the waters/market. Also if its NOT already being done, maybe there is a REASON why. Thats why I say the best route to take is to just do something better or improve on something because the concept has already been proven.

Yep. There's a reason why CVS always builds near Walgreens. Market research is the key to any successful business and with the internet, market research is easier than ever. (But is often overlooked).