How to Turn Your Business Failures into Growth and Success

Here is your Client Attraction strategy tip for this week is about failure. I want to share a message with you about failure that is: failure is good. Now I mean that. Failure is good. I don’t wish failure on you everyday but a healthy small dose of failure in your business is one of the best things that can happen to you.

            Here’s why: if everything went well all the time, you wouldn’t have an opportunity to improve your business. For you to advance in your business continually and the better you get at what you do, the more people are attracted to you, the more they will pay you and just the more your business will grow. The key for you is growth in your business and one of the best ways to grow is to fail.

            I have made so many mistakes in my business. I have failed so many times; sometimes big failures, sometimes little failures. They only stay failures if you don’t learn from them. Write that down. You can only grow if you learn from your mistake. If you just sit there and wallow in your mistakes and not do anything about them, you can’t make your business better.

            One of the things that I share with my clients is a concept that I call Groundhog Day. In fact, Derek and I were married on Groundhog Day so this is an especially interesting experiment, but this is what I want you to think about doing after every single thing that you do in your business. If you do an event, then do the Groundhog Day exercise the next day. If you shoot video for the first time and you look at it, do Groundhog Day the next day. If you have a brand new client signing up process, see how it goes and do the Groundhog Day the next day.

            Here’s what I mean by Groundhog Day. What you want to look at is what worked and what didn’t in anything that happens in your business and what you would do differently the next time around if you had to do it all over again. Do you remember that movie Groundhog Day with Bill Murray where he wakes up every day and it’s the same day all over again? At first he goofs around and stuff like that and then towards the end when he wants to catch the attention of his love interest in the movie, he starts to do things better and better and better each and every time.

            That’s one of the things that we do in our business is after every experience we look at, “Okay, what went well? What am I happy about? What did not go well? What did not work?” I write all of these things down and, “If I were to wake up tomorrow morning and it’s Groundhog Day all over again and I had to experience this experience all over again knowing what I know now, what would I do differently?”

            When you can write these things down after every single thing that you do in your business and you can learn from them, then you can create a system so that you never experience that failure ever again. What happens is that for example in our masterminds, I’ve been running masterminds for many, many years, the first year things were good but I made a lot of mistakes. So by the time I did what I call MM2, Mastermind 2, things got better. Because of doing this kind of exercise, by the time I got to the third mastermind that I launched, things were even better. Imagine now years and years later, the reason our clients get so many amazing results from being part of our masterminds is because we have perfected this through failure after failure and looking at through the eyes of the Groundhog.

            So that is your assignment for this week is to look at one particular thing that happened this week in your business, what worked, what didn’t work, what would you do differently knowing what you know now?