Failure Stories! Do you have (m)any?
Just got a random thought while restrospecting on few things today of my past , although not entirely brooding over it but trying to find positives out of the unsuccessful or almost there endeavors. If anyone feels like venting it out here, go ahead just spit it out. Which failure has taught you the most and how? May be we all would take a thing or two from it...
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Oh yeah - my first business was a giant flop. I spent $40k on it and didn't earn anything for a year. It was bad.
BUT
Biggest lesson I learned: Ask what people have budget for, not just what they want.
When I asked people what they wanted, of course everyone said my business was brilliant! But then when I asked for the sale, I got caught up in meetings and "budget talks" that never went anywhere.
When I started my second business, I took this lesson literally. When I said I did content marketing and people asked what kind, I responded with "what do you have budget for?" -- it usually got a bit of a laugh, but it also helped me close some of my first clients.
Brilliant! Nice learning Stefan. Always not only Know your customer but also know the spending capacity so that products or services could be priced well. Thanks. Noted. 🤗
You can find it on failory.com
Thanks for sharing this. It is a really good repository.
I love talking about failure!
@Kborghesan and I started a podcast on this topic 🙃
I've had many failures, including businesses that I've started (2 failed startups), degree's I've pursued (kicked out of business school) and relationships I've had (where do I begin). I've learnt something amazing from all of these experiences. Though, what's really cool is interviewing people on the show like Guy Kawasaki and Steli Efti and hearing how they overcame hurdles throughout their lives. If there has been a consistent trait among the people who end up creating something successful on the other side; it's grit.
G R I T ! 💪
Before the pivot online. I dumped $3000 into making healthy juice. Oh and for before that it's embarassing number... Truly mistakes after mistakes :P
Haha...! What a juicy mistake indeed. 😁🤗
Thank you, now I have to use that pun when mentioning it
When I started my first business, I printed business cards & marketing flyers, incorporate - all without having a customer or a product. Fortunately, it only cost me a bit, but at the time it was very painful. Obviously, it didn't turn out to be a unicorn.
Haha! Hopefully one find day my friend...
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Wow! More power to you mate. Looking forward for your book...! #gutsy
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Beautiful story. Such clear and concise learnings. Thanks for putting it out here Kacem. 💪💥