Failure From Risk Is Good

There are two kinds of failure.

The first comes from never trying out your ideas because you are afraid, or because you are waiting for the perfect time. This kind of failure you can never learn from, and such timidity will destroy you.

The second kind comes from a bold and venturesome spirit. If you fail in this way, the hit that you take to your reputation is greatly outweighed by what you learn. Repeated failure will toughen your spirit and show you with absolute clarity how things must be done. In fact, it is a curse to have everything go right on your first attempt. You will fail to question the element of luck, making you think that you have the golden touch. When you do inevitably fail, it will confuse and demoralize you past the point of learning. In any case, to apprentice as an entrepreneur you must act on your ideas as early as possible, exposing them to the public, a part of you even hoping that you’ll fail. You have everything to gain.

When you face the second kind of failure, you experience chaos, out of which you produce a new order that is even better than before. Ultimately, the negative effects of failure are greatly outweighed by the positive effects. Fear is an indicator of what we must actually do.

References

The Daily Laws by Robert Greene

Tools of Titans by Tim Ferriss