How to Make Failure Your Greatest Path to Success
Dude Perfect is one of YouTube’s hottest shows boasting well over 11 million subscribers and 60 million views. Self-described as “5 best friends and a panda,” this basketball trick-shot team consistently performs near-impossible sports entertainment feats with confidence, comedy, and much celebration. You can watch one of their most popular posts, Bowling Trick Shots here: https://www.youtube.com/watch?v=CACAmH4r1fw .
Weather they are performing soccer trick shots or having Nerf Blaster battles, they make it look like every shot goes in, every landing was planned, and every trick works the first time. How do they do it? Either these guys are unbelievably lucky, supersonically gifted, or have experienced vast amounts of failure along with success. I’m convinced it is the latter; however I still don’t know what the panda does.
What they truly are, is a group of hard-working friends who run a lucrative social media business by failing at a stunt over and over until they can finally post a success. Cory Cotton, one of the founders, has published a book called Go Big: Make Your Shot count in the Connected World which is a compilation of their greatest efforts and principles for their success in following their dream. These guys have made a business of learning from failure. They know better than anyone that sometimes failure is your greatest path to success. And that’s what we want to look at in regard to our finances.
How do you measure a financial fail? Bankruptcy, scanty portfolio, low credit rating, no savings balance, overspending? Failure is a personal word and unless you’re in full-on financial crisis and unable to meet basic needs, only you can define what a financial failure means to you.
What causes a financial fail? Too many possibilities to note but inaction, faulty preparation, lack of focus, not enough information—or even attitude are big factors. Regardless what caused your financial setback; we want to help you find yourself on a road to recovery starting wherever you are right now. Failure can be an opportunity to propel you to something better. The point is don’t give up, but do be honest with yourself and learn.
Rethink Your Approach
What you want, what you believe is possible, and what you believe about yourself are the real success measures. Rethink your approach with these financial strategy baby steps:
Assess your situation, but don’t compare
Be honest about the facts and what happened. Is this a one-time problem? Is it an easy fix? Does it have long-term implications? While you assess, focus only on your present situation. Don’t compare where you are to anyone else. If you compare your current starting point to someone else’s end point, you’ll fall short every time.
Study what’s in your control and what is not
What’s done is done. Take playing the investment game for example. If you lost some money and want to consider a crashed market a personal failure, that’s your prerogative, but the real failure would be keeping your money in an unstable environment with an unknown return. Our advice would be, “Don’t be afraid to try again, but maybe don’t get back on the same horse.” Better options for savings and retirement security exist, and we’ll tell you about them.
Learn something new
A financial fail may be just the kick in the pants you need to see what other possibilities exist. Financially successful people are lifelong learners. Learning all you can about where your money is really going (interest, fees, and taxes) and if it’s working for you is vital. Because we want to help in your learning journey, we created a FREE eCourse called Infinite 101® to get you started in the right direction.
Reach out and support and get support
You may think your situation is unique, but you are in good company. Instead of allowing strong feelings like guilt or shame guide your decisions, allow those who have walked before you to offer support, comfort, and knowledge. Just make sure you can trust your network—and you really shouldn’t need to pay someone for advice if they have your best interest in mind.
Set goals
After your assessment, it’s easier to figure out where you want to go and how to get there. You’d be surprised how many people have no road map or destination when it comes to finances. Plot your course, but be flexible enough to refine your strategy as obstacles come in your way. One important milestone on your journey will be a “rainy-day” fund or an “emergency” fund. This available cash should be set up outside of a credit card and free from fees, high interest, and tax penalties. We can even show you how to set this fund up by borrowing it from yourself!
Failure can open doors you never even knew were there in the first place. The truly financially successful are hard-working, continually educated, self-disciplined people who learn from their failures and come back to make smarter financial decisions.
When it comes to creating your roadmap to financial success we want to help you with education and expert advice. Take 2 minutes to sign up for a FREE, extensive eCourse called Infinite 101®. You’ll receive access to video tutorials, articles, and podcasts. It literally costs you nothing to become educated on this ideal strategy and start changing your wealth paradigm!
Take advantage of this FREE resource by clicking below.
