Owner of HighKey Enterprises. We grow and make ELITE personal brands.
I know this will sound contrary, but if you don’t fail at least once, then how can you really know what it means to reach success? Think about it this way: We always back the underdog in every movie because we want their struggle to be worth it, and we want to see them rise above. Can the person who is handed their way to the top or who reaches their goals without having any hardships along the way ever truly feel satisfied that they’ve done all they can to earn that title of being a successful entrepreneur?
I started my company with my brother Jordan when I was 16 before I could even legally sign the papers allowed to be a co-founder of a business. It’s been four years, and there have been a lot of ups and downs and even more lessons learned along the way.
The biggest lesson that I learned is that your business failures are the equivalent of “entrepreneur’s tuition” into the business world. Every single person should realize that failing is not only inevitable but also essential for business growth.
Putting yourself in uncomfortable situations and working on untapped markets can be the most lucrative parts of the business, but you can only get to those points if you fully accept failure. The only time failing is bad is when you make the same mistake twice. That should never happen because then it means your first tuition payment was useless, as you didn’t retain any of the knowledge.
As a business owner and manager, there are many elements out of your control. So you have to take on a lot of different roles in the company, especially in the beginning, to ensure you’re bringing value to the areas that need it most.
However, it also means that you need to realize that when a failure of any magnitude occurs, you can’t let it swallow you and drag your energy down. There may be times when you’ll be spread too thin and make mistakes or when an outside source of chaos spins things out of your control. There’s nothing you can do about that, but you can recover from anything so long as you retain the right attitude, build those essential skills and continue focusing on growth.
While keeping all of that in mind, remember that you aren’t truly alone, even if you’re the sole owner of your business. I’ve been working for years at building a team of employees, contractors and freelancers. I try to surround myself with people who know more than I do because I know that I’m not an expert in every process, but I can hire people who are. You may think that the entire business hinges on your performance, but in reality, employees are the infrastructure of any business.
Yes, failures happen, and that will likely never change no matter how successful you get. However, there are too many moving parts when scaling a business for there to be anything less than growth and greatness expected of you and your employees.