My Biggest Failure... The Power of Learning from Success and Failure
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- Опубликовано: 20 июн 2023
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*Editors note - the main camera angle had an issue with the file but the content was too good to not release. Ironic that it is on a video about failure - apologies and enjoy the content.
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One of the questions I frequently encounter is what I've learned from my biggest failures. Before I delve into that, I want to emphasize the importance of learning not only from failures but also from successes. Often, we only become open to learning during failures because success can make us overconfident and blind to important details and processes that contributed to our achievements. From my experience coaching high-performing individuals, I've noticed that they usually reach out for help and guidance when facing significant challenges or failures. They admit that during their successful times, they were not receptive to external input. It took failure for them to become open to learning.
I want to make it clear that failure offers opportunities for learning, but it's not because we can't learn from success. It's because we are often not psychologically prepared to learn during successful moments. It is crucial to understand that waiting for failure to occur before seeking growth and learning is unnecessary.
Perhaps there should be a counterintuitive mindset that accompanies success-one that recognizes the potential for failure within it and asks, "What can we learn from this?" About ten years ago, I faced a significant financial failure with my company. We had thriving fashion, film, tech, and publishing divisions. We achieved remarkable success, with one of our fashion companies winning a prestigious award and our film company creating the top-rated Super Bowl commercial. We were financially stable and didn't require further investment.
However, one day, everything changed. My business partner made a decision that led to the loss of the entire company, wiping out millions of dollars in valuation. It was a devastating blow, and it took me five years to recover from the consequences of that failure. Through this experience, I learned some valuable lessons.
Firstly, I discovered the importance of choosing trustworthy and committed partners. It is essential to work with people you trust, enjoy being around, and who are dedicated not only to the business but also to one another. Success and failure are both common in life, and it's crucial to have a supportive network of people who have your back, regardless of the outcome.
Secondly, I learned that I had more resilience than I realized. Facing the pressure, stress, and failure of such magnitude taught me that I could endure and overcome difficult circumstances. This realization gave me newfound confidence and the willingness to take greater risks. Knowing that I could survive significant failures empowered me to step into opportunities for massive success.
Lastly, I realized that losing something creates space for something new. Despite starting over, I had gained invaluable experience and knowledge from my previous ventures. It wasn't a fresh start from scratch. Every experience, success, and failure had shaped me and increased my intrinsic value as an entrepreneur and leader. Even in the worst situations or economic downturns, they cannot take away who I have become. My personal growth and experiences are my greatest assets.
Now, let's apply these insights practically. The first step is to carefully choose the people we surround ourselves with, forming an inner circle of individuals who align with our goals and values. Evaluating our current circle and seeking out better connections with people who are passionate, ambitious, kind, and generous can have a profound impact on our growth.
Focus on taking small, incremental risks and making improvements in specific areas of our lives. Rather than attempting to change everything at once, by changing one thing, we can witness how it positively affects other aspects of our lives.
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This subject came to me at a perfect time. I’m exactly at 5 years after my biggest failure, and I have been trying to crack some of my growth issues. I have been continuously striving since and really have grown a lot in ways that I wish I knew before. Thank you Ewrin. I’m going to do this today.
Digging the “shorts!” 🤩 Excited for the shift - simply watching how Battle Ready has grown and shifted has been insightful!
Thanks for being so generous Erwin. So much in these 12 minutes.
More more more please
This was GOLD! I’m encouraging everyone including myself to get out that sheet of paper and start writing what he says at 10:10 } 1. Start writing down everything you’ve learned, how you’ve changed, who you’ve become.
2) Write a top 10 list of the most amazing things you’ve done/been through…see what happens
I love this. Thanks for blessing me today.
You are so sincere😊
Thank you!😄
Really loved this
so true! thanks for sharing!
Thanks for watching!
💯💯💯
I just started following you and love what you do and appreciate who you are. Is there a full version of this short and do I need to get permission to play your podcasts in my “victims of human trafficking” court?
Yessssss ❤️🔥
Bruh, who is walking in front of the camera shot 😂 @1:19
We had an issue with the file for the main camera and so we released the video with only the secondary camera. Ironic that it's on a video on failure 😂 The content was too amazing to not share even in it's more raw state. - Austin
Worth it, it’s good content.! Look at you having a backup and multiple angles! You’re the man Austin, I joke because I love! Lol
Keep up the awesome work!🤘🏼❤️
Worth it, it’s good content.! Look at you having a backup and multiple angles! You’re the man Austin, I joke because I love! Lol
Keep up the awesome work!🤘🏼❤️
wouldnt of noticed if you didnt bring it up