How do you know you've failed?

[Deleted78083]

When Flybee collapsed some days ago, it was because they couldn't repay their loans nor borrow money to do so. Easy. However, when you built your fastlane business, how did you know when you failed? Was it because it wasn't fastlane at the first place? The product wasn't good? Why? And what made you "quit" and restart something else?

I believe analyzing failures is much more informative than analyzing successes.

Cheers!

Mon_fi

 

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[GoodluckChuck]

When Flybee collapsed some days ago, it was because they couldn't repay their loans nor borrow money to do so. Easy. However, when you built your fastlane business, how did you know when you failed? Was it because it wasn't fastlane at the first place? The product wasn't good? Why? And what made you "quit" and restart something else?

I believe analyzing failures is much more informative than analyzing successes.

Cheers!

Mon_fi

When you give up.

 

[Primeperiwinkle]

When you never start.

 

[Nicoknowsbest]

When you give up.

When you never start.

I agree with these posts 100% from my experience. I personally analysed successes as well as failures @mon_fi, but I only started learning for real once I started doing something. It helps me to keep some best practises for common problems in mind, but ultimately each situation is highly unique.

My motto is that it is all a learning and that I cannot ultimately fail as long as I wake up every day and am ready to try something new, improve myself and help somebody with something. Once I stop this for good and don't bother anymore, that's when I "fail" I'd say.

 

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[aeden]

When Flybee collapsed some days ago, it was because they couldn't repay their loans nor borrow money to do so. Easy. However, when you built your fastlane business, how did you know when you failed? Was it because it wasn't fastlane at the first place? The product wasn't good? Why? And what made you "quit" and restart something else?

You can only fail to hit a goal if you set the goal in a first place, so you need a goal first. The best goals have a time frame in which they should be achieved, so setting a time limit for achieving a goal is the second part. Once you've done these two things, it's easy to determine if you've failed.

Consider that failure doesn't mean you need to quit. Perhaps you're just shy of your goal... you've failed to reach it but quitting now may be silly, so move out the time a bit and continue. If, on the other hand, you're far off from your goal, then it's time to really think about why you failed to hit the goal and decide if you're ready to make changes and try again for that goal, or if you're ready to give up and set a new goal.

 

[Here]

When you realize it's just not for you and you need to move on, in my experience.

 

[SEBASTlAN]

If nothing has changed for 5 years, in most cases.

 

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