How To Fail Fast

it's important to fail fast let me explain to you what i mean by a personal example of where i just recently failed fast i had an opportunity here with one of the mega mega builders in this country and i told them i think that i could double your sales in the next 12 months i said i'm a genius marketer their marketing sucks and i said i could do it for you he said wow i'd love to talk that's all i went home and i prepared a business plan for him i called him at nine o'clock the same day and i said to him i would like to come meet you at one o'clock the next day to come prepare for you and show you the business plan that i have and he said sure why not my wife looked at me she said understand you just had the conversation with him you're going to go talk to him already about it i said yes 100 i want to see if i have something here i sit down with the guy's office and i prepare for him the business plan i showed him and he says to me you're out of your mind the commissions that you're talking about are nothing like what we pay here in latin america and he said unfortunately it's not a good fit great i walked out i shook his hand thank you for your time and i went on with my day let me tell you why this is an important phenomenon because that next week i had a trade show for one of my other businesses that i was going to and in my mind as i'm typing up my business plan the night before and i was thinking about how much money i'm gonna make how rich i'm gonna become from this incredible opportunity i was thinking to myself you know what at the trade show i don't have to perform my best why because i am going to have such a successful new business with this construction company here in panama and because i had gotten the no fast and i failed fast i was able to take it out of my mind and use my mind and my energy to build my other businesses so that i could continue to focus on other endeavors without having to waste time and energy and hope for this other construction opportunity so you understand you have to fail fast you have to try things too often what we do is we keep our ideas on notepads or we keep them on our computer or even worse we keep them in our head and we don't execute on those ideas why because we are afraid to fail because as long as it's in my head as long as it's in potential that means that i actually might succeed but it's actually the opposite you have to take that idea off of the notepad as soon as you humanly can and you've got to actually take that idea and test it against the market and if the market responds in kind poor gasoline on that fire if the market says you don't have something take it behind the barn and shoot it but take your ideas and test them as soon as you can fail fast fail forward fail often because the more you fail the more you try eventually you're gonna hit something if you enjoyed this video please hit the like button please leave me a comment please subscribe to my channel if you hated the video let me know in the comments too i love you guys thank you for being a part of my life follow me for daily business content god bless [Music]