Why Failing is important in business #23
Fail Fast – Quick Wins with COM episode 23
Tune into to this weeks episode where Richard talks all about failing.
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R Toutounji: Welcome back to Quick Wins with COM, I’m Richard Toutounji, the founder of Complete Online Marketing also known as COM, and here we help traditional businesses win in the new age of online marketing. Today’s topic’s all around failing. It’s around failing fast. Let’s say if you have got 10 clients today, and you want to go get 100 clients by the end of the year. You’ve never ever before had new clients before. It means that you need to change some things in your business. You need to change the marketing processes. Most importantly, you need to change your mindset around the whole process.
In getting those 100 clients, when you’ve only ever 10 clients ever in your business, it’s like that one step forward, two step back mentality. It’s a mindset shift. It’s making sure that you have the ability to be able to fail, and yes, it’s okay. But from the fail point, you’re moving forward with the next right direction. It’s in the failure that the growth will happen. What do I mean by that? I certainly don’t mean that we want to fail so that you go bankrupt, and you lose everything, and it’s a struggle for years, and years, and years. Yes, you’re going to learn some lessons out of that. But I’m talking about small fails along the way. I’m talking about making sure that you’re having multiple fail points so you can achieve the growth points that you’re after.
As a business owner, it is so hard to get your way through all the different things that you need to do. You need to do marketing. You need to do sales. You need to do HR. You need to do recruitment. You need to do everything in a business. You need to actually have this product and service, no refund rate, low refund rate, service in the clients. There is so many things to do. In the processes of growth, you’re gonna come up with an adversity. You’re gonna come up with some problems. You’re gonna come up with mistakes. It’s how you deal with the mistakes. It’s how you deal with the fail points. How fast you get up from the fail points. How fast you adjust to move forward. How are you gonna move forward if you don’t fail? You’re gonna make mistakes. You’re definitely gonna fail. If it was easier to just duplicate one single client into 100 clients, everybody’d be doing it. But there are so many other elements in place to make sure you get the goal of the growth in your business, whatever it is for you. You see, without the fail points, it’s almost like we’re too scared to move forward. We’re too scared to make a mistake. If you’re too scared to make a mistake, and you’re too scared to fail, how can you grow?
You see, it’s about dips. When you go down, you’re gonna go up. When you go down, you’re gonna go up. It’s in the dip stage that we could have made that mistake. That the client could have complained. That the marketing didn’t work. But it’s in the dip stage that when you’re in that dip, it’s about getting out of the
Fail Fast – Getting out of the dip as fast as possible. Getting out of the dip and making a different decision. Going into that right direction.
As long as you don’t make the same mistake again, and again, and again, that is okay. But we’re gonna keep making mistakes onto the journey of growth. This is a huge mind shift right now. It’s huge. You’ve got to basically go from, “I was told that I can’t fail. If we fail, it’s not good for business.” Now you go into a mindset of, “Let’s try something. Let’s beta test something and get it up.” Even in marketing, we specialise quite a lot in online marketing, is that feeds go through so fast through Facebook. If you put a post up, and it was the wrong post. It didn’t work. Don’t worry. 90 minutes, it’s gonna be gone. Somebody else is gonna be moving forward. It’s important to know that we’re living in a world that’s it’s okay to fail. As long as we pick ourself up. We don’t stay on the ground too long. We figure out what we did wrong. We move forward to the next step. Because you can’t grow without fail points.
If you have your end game in place, make sure that you set yourself up for success. Along the way, realise that there are gonna be points that you’re gonna expect that there’s gonna be adversity. There’s gonna be fail points. Know at those adversity and fail points that it’s your decision to adjust the sales a little bit. To figure out what went wrong, and move forward to the next fail point. Move forward to the next success point as well. Every fail point has a success point. That is Quick Wins with COM today. Remember, if you’re at a point and you’re not sure what to do, it’s okay to be confused. Confused, fail, get up, and move forward. Move forward to success. Move forward to the path that you may not have been yet. It’s the moments and decisions in the fail points that are gonna equal your true success going down the future. Thanks a lot. I’ll see you next time.
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