Failure – The Key Stepping Stone to Success

Part of the service we offer our clients is that of business fitness coach. When meeting with many companies, it’s often necessary to guide business owners back to the goals of their business, and away from the distractions that may undermine the success of their company. Over-planning for potential risks is one of these distractions.

My dad always used to tell me that failure was the stepping stone to success. The average entrepreneur fails 4-5 times before he is successful. What does all of this tell you as a business owner of principal? That experience is the path to success; we learn from our mistakes and hopefully make an active choice NOT to repeat them.

Too many companies are so stuck in the planning stages that they fail to spend time on building the business. They spend too much time in what I call “Analysis Paralysis”, trying to make sure that they plan for every possible outcome and scenario.

The successful businesses that we work with are not afraid to take chances and more importantly not afraid to fail. They spend time looking at the successful side of the outcome instead of the potential risk.

Analyzing and considering risk is good, don’t get me wrong. It’s a gut check that prevents us from making the big mistakes and when considering risk, one must look at the worst possible outcome to insure it doesn’t severely impact the day to day operations or direction of the business. However, the main focus of a company can’t be on the potentials risks that exist. The fear and caution associated with potential risk tends to be more of a hindrance than a help for a young company.

What I notice is when someone fails, they tend to lose the fear of failure. The net time around, they are willing to take more risks because they learned that failure makes you smarter. After all, just as we were told when we were younger, whatever doesn’t kill you will make you stronger.

So don’t be afraid to take risks in your business, it’s necessary to succeed. What’s the worst that can happen? Failure isn’t a dirty word. It shows you have the character to take a risk and like gambling, sometimes you win and sometimes you lose.

It took me 4 times to get it right and I wouldn’t trade what I have learned along the way for anything. As long as you have your health and your family, then everything else is gravy anyway.

What do you think?

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About e3consulting

Welcome to E3 Consulting. As proven experts implementing the latest CRM, ERP and Accounting Software in the Manufacturing and Distribution industries, we have made it the goal of our business to help our clients obtain the bottom line results their individual companies require. Educate, Enable and Empower For companies in the manufacturing and distribution industries, the ability to simplify their business operations is vital to their ability to succeed. E3 Consulting will provide the consultation; technology and the project management tools that companies need to improve their business processes and their bottom line. What We Do Does your company need a revamp of existing business systems? Do you have a technology project that is going beyond time and over budget? Are your costs out of control and productivity lagging? When you contact E3 Consulting, we take a hard look at the reality of your business operations and break it out into segments, to find out which aspects of your business process workflow need attention and which are working as they should be. It is our intent to look at your operations, your accounting, your workflow and your technology and create a cohesive plan that will have your business running effectively and efficiently. Our Process Every company runs differently, and it is those processes specific to your business combined with your workflow goals that give the staff at E3 Consulting the canvas we need to use our long history of business development, project management and technology to map out the path your company needs to follow to improve your bottom line. Think of your business like a lego block structure. Each block that is missing reduces the stability of your company. We can look at your overall operations and use our knowledge of the marketplace cutting-edge technologies to find the blocks that are missing from your overall business concept. We will introduce the right technology tools to improve your operations, and then continue in a project management position as necessary to ensure ongoing smooth operations. Our Experience E3 Consulting has a long and successful history of project management, business operations consultation and technology implementation and management within Manufacturing, Distribution, Service, Healthcare, Finance and Accounting businesses. Principal, Brad Tornberg, is a successful technical and business expert with an MBA in Finance from Farleigh Dickinson University and. He holds Microsoft Certifications for Customer Relationship Management (CRM) sales, implementation and training. He also has a series 6 and series 66 securities license and a New Jersey Life and Health License. He is well published having written many articles for The Practica
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