Many of the lessons I learned from that first spectacular fail are what I used when creating my courses on LinkedIn Learning. I used every single tip shared to pull myself out of the trenches towards the success I enjoy today. You can see all of those courses at davecrenshaw.com/learn. Maybe my past failure can help you grow, too.
My first business was a miserable fail. I started it when I was young (23), arrogant, and ignorant. That’s the trifecta for tragedy. In less than two years, what looked like a rocket of profit crashed to the ground in spectacular fashion. I ended with a lot of debt and feeling completely demoralized. I thought my career was over.
But as I look back on the experience, I realize that the failure then is part of my success now.
Why? Because I learned SO MANY valuable lessons from the experience. Here are just a handful:
✔️ Focus less on branding and more on creating a great product. There’s no advertising as strong as a real customer testimonial.
✔️ Avoid hiring friends or family. As wonderful and skilled as they may be, the dynamic of trying to be their boss rarely ends well.
✔️ Be conservative in spending. Impressive sales projections on a spreadsheet are rarely a reality.
✔️ Similarly: avoid debt and bootstrap as much as possible.
✔️ Simplify and streamline my business model.
✔️ Focus my time on what is most valuable. This lesson led to the genesis of my MVA concept in my Time Management Training!
✔️ Be humble and listen to the perspectives of mentors who have walked the path before me.
This failure turned into a success because I’ve regularly reflected on this question:
“What did I learn from this experience?”
When we ask ourselves this question, we can turn disasters into life lessons that help us grow. Pain becomes progress!
How about you? How have you turned a past failure into a success?