The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

I've Failed Big & Fast, Looking For The Next Big Thing

Accelerate wealth. Build a business that pays freedom. Join more than 70,000 entrepreneurs and register for the Fastlane Entrepreneur forum. Remove ads? Join the INSIDERS.

Roli

Platinum Contributor
Read Millionaire Fastlane!
Read Unscripted!
Speedway Pass
Jun 3, 2015
1,608
2,618
680
A while back I remember reading something somewhere about failing big and failing fast. Basically the idea is that it takes you just as much effort to put into little things as it does into the big ones, ergo you might as well go for the big ones.

An example of me failing small and slow, was my time in the video production/tv/film industry, I slogged it out for 8 years for tiny rewards, and in the end it failed. I realised then that it would have been better for me to try for example, 8 big things in that time. Maybe I would have failed in all eight, however the end result would have been the same, and at least then I was giving myself eight times the opportunity.

So last year I found a big basket that I decided to throw almost all my eggs into. I won't go into it here as this is more a mindset post rather than a breakdown of what went wrong, suffice to say it was in finance. My reward would have been between £600k and £1.2 million (circa $780k - $1.5 million) for around 3-6 months endeavour.

Funnily enough, quite by coincidence, I tried to set up another much smaller finance thing, regarding merchant services, which to be fair is still available. However that too has failed to produce any noticeable results. That really does show that it's worth just trying to go for the biggest thing you can. Both of my things required just as much attention, yet only one of them was going to make me a millionaire if it succeed (there would have been even more lucrative deals had the first one worked).

So yeah, fail big, fail fast, move onto the next one.
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

alexkuzmov

Silver Contributor
FASTLANE INSIDER
Read Rat-Race Escape!
Read Millionaire Fastlane!
Read Unscripted!
Speedway Pass
Sep 20, 2019
802
996
338
Bulgaria
A while back I remember reading something somewhere about failing big and failing fast. Basically the idea is that it takes you just as much effort to put into little things as it does into the big ones, ergo you might as well go for the big ones.

An example of me failing small and slow, was my time in the video production/tv/film industry, I slogged it out for 8 years for tiny rewards, and in the end it failed. I realised then that it would have been better for me to try for example, 8 big things in that time. Maybe I would have failed in all eight, however the end result would have been the same, and at least then I was giving myself eight times the opportunity.

So last year I found a big basket that I decided to throw almost all my eggs into. I won't go into it here as this is more a mindset post rather than a breakdown of what went wrong, suffice to say it was in finance. My reward would have been between £600k and £1.2 million (circa $780k - $1.5 million) for around 3-6 months endeavour.

Funnily enough, quite by coincidence, I tried to set up another much smaller finance thing, regarding merchant services, which to be fair is still available. However that too has failed to produce any noticeable results. That really does show that it's worth just trying to go for the biggest thing you can. Both of my things required just as much attention, yet only one of them was going to make me a millionaire if it succeed (there would have been even more lucrative deals had the first one worked).

So yeah, fail big, fail fast, move onto the next one.
Why not share why you failed?
Might help the rest of us :)
 

Sponsored Offers

  • Sticky
MARKETPLACE  You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
What I got was completely unexpected; @LightHouse generously talked with me for 2 straight hours...
  • Sticky
MARKETPLACE  Freelance University: Solve Every Freelance Problem (Especially on Upwork)
FU. 4 DAYS. 50% OFF BLACK FRIDAY SALE! If you're an Upwork freelancer, you'd be a fool not to...
  • Sticky
MARKETPLACE  For Sale: Food Brand with 4 Years of Happy Customers in a Fast-Growing Niche
So to get certified, it cost a fortune? How much exactly? That sucks that these "health...
MARKETPLACE  Fox Web School "Legend" Group Coaching Program 2021
Fox's Web School helps you learn a specialized skill which you can use to get to Fastlane. It's...
MARKETPLACE  Not sure how to start? This free book will teach you how to build a successful web design business
Hi Fox. Starting the book and got through the introduction. Had a conversation with Andy Black...


Don't like ads? Remove them while supporting the forum. Subscribe.

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom