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The Reasons Why Failure is A Necessity to Success for Your Business

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The Reasons Why Failure is A Necessity to Success for Your Business
The Reasons Why Failure is A Necessity to Success for Your Business

 

Failure is almost a necessity for entrepreneurs and business owners. Fear of failure is one of the most common reasons people don’t go into business for themselves. Failure’s a lesson not the end of the world!

Here are some of those parallels and what they ultimately mean for you, as an entrepreneur.

Why is a failure a problem?

It isn’t! Failure itself is not a problem. According to Neagle, the only problem with failure is the shame that our society has wrapped around it.

We’ve all experienced shame from failure. We experienced it at a young age in school and from our parents. But many of us have also been on the opposite side, tearing down those above us for making even the smallest of mistakes.

Unfortunately, our society is great at building people up in their success, but the second they make a mistake, we demonize them and shame them.

As a result, people have become obsessed with avoiding failure. Parents seem to be especially fearful of their children failing. But in reality, failure is one of the best things that can happen to anyone–especially children! (And entrepreneurs!)

Failure builds confidence, provides invaluable learning opportunities, creates new and unique experiences, and helps make people more self-sufficient. All of which is incredibly valuable for children, entrepreneurs, and everyone in between.

Failure is the quickest path to success

Failure shouldn’t be avoided; it should be welcomed. In fact, failure is the quickest path to success. As a business owner, failure allows you to find out where your weak spots are, where you’re ignorant, and what skills you or your team needs to learn. It shows you what you need to do to scale your business–and the faster business owners can learn that the faster they’ll succeed.

Alternatively, avoiding failure can cause a business to stagnate and fizzle out. It means you’re never taking risks, and therefore, you’re missing opportunities. But there is another, more critical phenomenon: The more you avoid failure, the more likely it is that failure will happen in a way that will completely devastate your business.

Important Tip. Learning how to bounce back from failures at an early age (in life or business) helps prepare you for anything down the road.

Getting to know failure

As we now know, the key to success with your business is to embrace failure–however counterintuitive it may seem.

The first step is to acknowledge that YOU are not a failure. Instead of looking at a mistake and saying, “I’m a failure,” you need to be saying “what I did failed,” or “what I did didn’t work.” It has nothing to do with you or who you are as a person, and by extension, business failures have nothing to do with the business itself.

Even if a company goes bankrupt, the company itself is not a failure–what the people at the company chose to do simply didn’t work. And that’s okay.

In your company, it’s important to allow your leaders to encourage responsible failure. Do this by focusing on radical accountability and honestly. Encouraging failure with the people that work for us brings about creativity. It encourages people to try new things and adapt to adversity that’s happening within the workplace. And ultimately, that is where big breakthroughs happen in business.

Companies who aren’t ready to embrace failure become fear-based. And in fear-based organizations, people only stick to what worked yesterday (or last month, or last year). In business, doing things “the way you’ve always done them” is a death sentence. It removes any room for growth or improvement.

Instead, we need to embrace failure to find out what’s going to work next. Not what used to work.

Failure’s an opportunity to improve your self and your business strategies. Don’t forget, businesses without failures and risks don’t exist!! Very Simple Lesson. Work hard every day and Never Give Up!!

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8 Tips for A Successful Social Media Marketing Strategy [Infographic]

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8 Tips for A Successful Social Media Marketing Strategy [Infographic]
8 tips on how to create a successful social media marketing strategy in this infographic. How to grow your business effectively with the help of social media…

7 Principles on How to Create A Great Infographic [Infographic]

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7 Principles on How to Create A Great Infographic [Infographic]
You need to create an infographic that solves a burning problem. This approach requires you to first think about the problem that you’re trying to solve or the questions you’re trying to answer with your infographic story.

1. Solve a burning problem

You need to create an infographic that solves a burning problem. This approach requires you to first think about the problem that you’re trying to solve or the questions you’re trying to answer with your infographic story.

First, ask yourself: What are the problems my audience is facing?

Your next step is to identify or discover topics and stories from those answers.

With infographics, content typically formatted as a how-to guide. As you attempt to provide solutions to burning problems, identify the data or the information you possess that your audience wants or needs, and present it in a way which provides value but also positions you as a leader in the industry.

2. Status Quo

Next, creating content that challenges the status quo is a great way to position you and your company as experts and influencers in a certain area.
Much like the myth-busting principle, creating content that challenges the status quo is sure to cause some controversy and debate. But these types of pieces tend to get the conversation going, thus making more people aware of your brand.

3. The Perspective

The next principle is to reframe the question or alter the perspective. The best way to describe this principle is by looking at an example from the Bill and Melinda Gates Foundation.

The organization wanted people to understand the importance of malaria vaccinations. Instead of simply presenting the facts and listing the impact – the death toll caused by malaria – the foundation created an infographic about the world’s deadliest animals.

When you see that nearly 1 million people die every year from mosquito bites, and only 10 deaths are caused by shark attacks, the data becomes much more surprising and memorable.

When you are using this principle, first identify the question you are trying to answer, and then approach it from a completely different angle.

4. Find origin stories

For every story you hear, chances are there is an origin story. Our curiosity and determination to find meaning are what make origin stories so popular.

Think about some common beliefs and behaviors people have today. For example, why did kale and quinoa suddenly become such health phenomena? They aren’t new foods, they have existed for a long time, and their health properties have been known as well.

A common way of portraying this principle with infographic is by creating a timeline infographic of an event, specific industry, or person.

5. Find extreme cases

Similar to identifying the origin story is discovering the extreme case. These outliers are often eliminated from surveys because they can heavily influence data and skew results.

One example might be to identify the average time people spend on Facebook. According to Business Insider, the global average is about 20 minutes a day. But for users in the United States, the average time was double. Now that makes the statistic that much more interesting, doesn’t it?

You can see the headline now: U.S. Residents Spend Twice as Much Time on Facebook as the Rest of the World.

Finding the outliers like this can help inspire highly shareable content and infographic ideas.

7 Principles on How to Create A Great Infographic [Infographic]
7 Principles on How to Create A Great Infographic [Infographic]
6. Go outside your immediate field

The next principle is to go outside your immediate field. Shopify offers an example of this. Technically, it’s in the e-commerce business, but it produces content on a range of topics, particularly entrepreneurship.

Shopify knows that many entrepreneurs have a store and sell a product online (the e-commerce tie-in). Shopify sells the dream of entrepreneurship first, and e-commerce is a by-product.

7. Mash up two or more topics

The last principle is the act of mashing up multiple ideas or topics for your infographic. Take two seemingly unrelated concepts and find an element that connects them. This is a particularly good way of combining trending topics with evergreen ideas.

It can be discouraging to spend hours working on an infographic that you think is incredible, only to publish it and find that no one will tweet it. But just like any type of content marketing, there is a lot of competition and only the best get shared and seen.

Don’t just create an infographic for the sake of making it. Create one that follows the principles of great content, and it will be seen.