Chances are, you will fail.
The greatest glory in living lies not in never falling, but in rising every time we fall.Ralph Waldo Emerson
For years I have wanted to write about failure. That is probably because I have never hit a home run and in the process have logged some major failures. In fact, the three major milestones in my career all wound up as failures…or did they? I have spent the last thirty years trying to get myself on the cover of Fortune and during that time learned a lot about failure and myself. I have had two failed businesses and after the second, landed on my feet as a turnaround CEO of a $70 million business and while I was successful turning it around, I ultimately got fired. In between all of this, I spent seven years in the turnaround business beginning in 2008, yes, that 2008. I have failed, watched failure and prevented many failures.
The SBA estimates that 30% of businesses fail in the first two years, 50% fail in the first five years and a whopping 66% in the first ten years. While this tells us that the longer you are in business, the more difficult it is to survive, it also demonstrates that as time goes on, failures rise as a result of poor decisions that build on one another until there is no way to turn it around.
There is an entire industry built on success and self improvement, but I am here to tell you that success is not about what you do right, its about hitting singles and avoiding the wrong decisions.
This blog will explore failure. My failures, the failures of other business people and what you need to do to increase the chances of failure for yourself and your company. Yes, I am going to tell you how to fail.
My hope for this blog is that by learning from me and others and by understanding the things that lead to failure, you will succeed and build a business that can endure anything.