The EPIC Failure Thread (Best Of)

[DeletedUser394]

Everyone, everyone will fail at some point on their journey to success. It's part of the deal. The weak will quit or use excuses to justify their failure. The strong and successful will aknowledge their mistakes, learn from them, and go about their business.

I suggest you take the time to read all of this. Learning from others mistakes is the best way to possibly prevent some of your own.

Enjoy! :smxB:

http://www.thefastlanetomillions.com/failure-mistakes-goofs/14139-how-i-lost-million-dollar-business-before-began.html

http://www.thefastlanetomillions.com/failure-mistakes-goofs/14458-would-you-change-past.html

http://www.thefastlanetomillions.com/failure-mistakes-goofs/17447-your-aha-moment-year-2008-a.html

http://www.thefastlanetomillions.com/failure-mistakes-goofs/18457-you-think-your-so-rich.html

http://www.thefastlanetomillions.com/failure-mistakes-goofs/19218-thinking-sounds-better-than-doing.html

http://www.thefastlanetomillions.com/failure-mistakes-goofs/14157-what-not-do-real-estate-investor.html

http://www.thefastlanetomillions.com/failure-mistakes-goofs/22847-life-reflection-best-returns-time.html

http://www.thefastlanetomillions.com/failure-mistakes-goofs/22889-fastlane-early-death.html

http://www.thefastlanetomillions.com/failure-mistakes-goofs/19027-moving-forward-daily.html

http://www.thefastlanetomillions.com/failure-mistakes-goofs/17972-lessons-learned-since-becoming-entrepreneur.html

http://www.thefastlanetomillions.com/failure-mistakes-goofs/23189-big-names-who-have-failed-before-becoming-successful.html

http://www.thefastlanetomillions.com/failure-mistakes-goofs/13301-after-youre-millionaire-will-you-go-broke.html


Everyone makes mistakes

http://www.thefastlanetomillions.com/failure-mistakes-goofs/14135-new-failure-forum-ill-start.html

Some Comic Relief

http://www.thefastlanetomillions.com/failure-mistakes-goofs/18941-fail-thread.html

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Mistakes Entrepreneurs Frequently Make;

(Disclaimer: Not all of these are mine, as it would have been incredibly hard to trace back from whom they came from)

-Too Much Office Space
-Not Knowing Costs Before Doing
-Not Knowing Local Building and Permit Codes
-Paying Payroll Out Of Personal Account
-Not Getting Money Up Front
-Not Understanding A Lease
-Not Reading Your Insurance Policy
-Not Speaking Up For What You Want
-Not Proofreading Biz Cards Before Printed (My own cards had “massage” instead of “message”
-Making Too Many Promises
-Trying To Do Everything
-Working Without A Signed Contract

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Lessons Learned:

(Disclaimer: Not all of these are mine, as it would have been incredibly hard to trace back from whom they came from)


- Check your calculations!

- When something is going wrong, stop and check what is it and correct it.

- Hire a proffessional to help you with accounting.

- Don´t start a store with less than 10.000$ prepared for stock.

- Time is also an asset/resource and must be managed

- Decide on a business concept, write out the basics, then go shopping for a good team who'll do the planning for you.

- Talk is cheap. A lot of people talk, but it's the ones who'll back up their talk with their wallets that need to be focused on. Many people like a good business idea and would like to invest. Don't mistake this for people who will invest.

- Dealing with professional investors might be hard, but it's far better. They'll find flaws in your plan, which is like free advice which will pay you millions, and they'll be efficient with time. They can make a decision based on business thinking, not emotion.

- Your domain (or any asset) is only worth what someone is willing to pay you for it. It does not matter what you think it’s worth. If nobody will pay for it, then it is worthless.

- Never let your emotions mess with your straight forward thinking

- You learn greatly from mistakes and you can prevent yourself from making the same ones in the future.

- Never be afraid to take risks, taking risks can create great wealth but also great learning opportunities.

- Don't let past success blind you to current realities

- Give up control is good, but do it very very carefully

- There is no way around having to make good, detailed plans and following them.

- 'Yes Men' managers are potentially worse than no managers at all


Good luck on your journey,

Ryan

 

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[DeletedUser394]

Qt: Dep e nuf si-neli vji moplt tu vjev vjiz vasp opvu vovmi moplt

O jewi pu ofie jux vu fu vjev

 

[Rawr]

Moli vjot upi.

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