A failure is not a mistake, it may simply be the best one can do under the circumstances. The real mistake is to stop trying.
One thing that I keep learning over and over again is admitting failure is the hardest part of seeking financial freedom and location independence. Especially because there is no exact point of failure. There are no rules that someone else has set for us. It is not a simple matter of answering questions on a sheet of paper to determine success or failure.
The only one setting the rules (if any) is me. I can try something for a couple of days and if it doesn’t work I could say I’ve failed. Or, I can keep trying to do the same thing every day, making minor adjustments, and keep telling myself that if I persist it’ll eventually fall through. It was indeed a tough call to scrap something that I’ve spent months working on. Will the next thing work? How do I decide if that has to be scrapped too? Will I be able to keep going after admitting to repeated failures? I do not know, but I ain’t quitting.
While trying to build my online business, I had come across some really good advice that I decided to ignore. I believed I was special and that I can do it in a way others couldn’t. Now, I can honestly say that lessons learnt the hard way are always etched the deepest. I hope that by sharing my own failure I can warn the the side hustlers, beginner entrepreneurs/freelancers, and all other freedom seekers to listen to the folks who have walked this path before. These are the two things that I wish I had listened to.
You are not your customer
I know this is build your business 101, but I made this mistake. I wanted to help other 25-30 year olds with their career issues by coaching them. I thought I paid for coaching and online courses, so surely I can make others see the light as well. I can get them to pay me to coach them. And, before even starting to work on my business model I had gone against the pay certainty technique (by Ramit Sethi, of I Will Teach You to be Rich). I knew that my customers had the money, but I had BS’d myself into believing that they were willing to pay just because I had paid for similar products/services. So, from now on, I will put all my energy into rebuilding my business. But, only after proper customer research, a.k.a talking to them. Why build something that no one will pay for?
Find additional sources of income other than your own business
I got this on a live group call with Jenny Blake and Melissa Anzman. I remeber exactly what I was thinking. No way! I am not going to let making money divert me from my goal. If I have to make money it will be only from my business. All I can say now is I don’t remember how many times I’ve stubbed my toe, but falling down face first has a way of imprinting itself on memory. I wanted to make money by coaching other people to overcome their career issues. And, since the beginning I have been trying to deny the truth. A business that doesn’t make money is no business. So, I’ve decided to work my day job, try to build my business, and make money by freelancing, all at the same time. Extra hard work and lesser sleep, yaayy! Who doesn’t love that?
So, after nearly six months of trying to build my coaching business, I’ve realized that no matter how much I dislike the idea of doing something only for making money, without it I can’t keep seeking freedom. And, I can’t build a business inside my head. I’ve got to deal with the fear of actually talking to people. The only thing I can do now is learn from these mistakes and move on. I won’t stop trying though, otherwise my will to be free will die a slow death. So, I would like to ask you what is one thing that you’d pay to have a solution for. Please leave your answers in the comments below.