Many people have a natural fear of failure and the emotions that surround it.
It’s totally normal to want to avoid the stomach-aches, sleepless nights and self-doubt that often occur when we fail. However, what if failure could actually be a success tool for your cannabusiness?
Having a proper understanding of the power of failure, and moreover, knowing how to use failure to your advantage is incredibly important as you build your business — just ask any super successful business owner or entrepreneur.
Here are four (4) things to remember when you’re facing failure in your business.
1 – Failing means you’re working
If you haven’t made mistakes or flat-out failed in your business or past business ventures, you may not have been working hard enough. Failure is a function of trying, and it only happens when you’re actually working your butt off to learn something and make amazing things happen.
If you want to get really good at something you have to fail a few times along the road. Failure provides an opportunity to learn and start over and when used correctly provides opportunity for growth.
2 – Failure is a tool for success
Successful entrepreneurs view failure as a tool and do not let negative self-doubt or self talk drive their emotional well-being. They know that there is a real opportunity within failure to look at what created the failure, and, how to do things better.
Additionally, they know that failure is just a bump in the road to bigger and better things — such as reaching your fullest potential and creating systems that actually work.
3 – When you’re looking failure dead in the eye, it can be helpful to ask yourself these questions:
- What can I learn here?
- Is this setback entirely because of my actions or inactions?
- How can I prevent this type of failure in my future?
- What do I need to do to try again?
4 – Failure means you’re learning to be fearless
As cannabis entrepreneurs, we have to have a great deal of fearlessness to survive.
There are many unknowns in this industry, as well as risks. When you learn to use failure as a success tool you also learn to be fearless, which is incredibly important.
Learning to take risks and avoid complacency is the No. 1 way to create massive success.
5 – Failure makes you a better person
Failure can be a huge motivator and an incredible opportunity to learn about yourself and your business.
Failure is an amazing teacher, as it clearly shows you what you need to do to be better. If success was easy it would be available for everyone and the opportunities would diminish.
Failure builds character by motivating us to avoid complacency and laziness. The people who sit on the sidelines and wait for things to happen are very seldom rewarded with the kind of success we’re after.
Success takes willpower, determination, intelligence, and fearlessness. But more than anything else, it requires failure.
The cannabis entrepreneur who knows how to use failure as an opportunity will see greater success than the one who fears it.