Would you rather solidify 2nd place, or risk everything you have for a chance at winning? In a perfect world we’d like have both as an option. But if it had to be one or the other, which would you choose? We are all faced with this question routinely. Whether it is at work, at the gym, at social functions, or in school, we are all constantly comparing and evaluating the risk of change with the safety and ease of stagnation.
Entrepreneurs and businesses are constantly searching for and creating the next BIG innovation to take the world by storm. They take chances, they risk losing everything. Some of the most well-known and successful companies in the world are backed by entrepreneurs and innovators who continuously push the boundaries within their industry.
What is the common thread that ties industry giants like, Ford, Honda, Microsoft, Macy’s, and McDonald’s Filet-O-Fish together?
Today, they all represent billion dollar successes, but not before their creators failed. Henry Ford went bankrupt after Detroit Automobile tanked. Soichiro Honda was rejected by Toyota when he went for a job interview. Bill Gates’ Traf-O-Data fizzled rapidly before he went on to start Microsoft. Macy’s tanked in their initial venture in Massachusetts, only to try again two years later in New York to become the behemoth it is today. And the Filet-O-Fish? Well, that happened only because McDonalds whiffed on the Hula Burger (pineapple, cheese, and bun…gross!)!
“You can fail 100 times as long as you succeed once” -Soichiro Honda
Failure should be promoted and welcomed within any company. If we as individuals are not taking chances and failing, how will we ever push the boundaries? When you’re done with this post, do yourself a favor and watch this video on Honda’s “Secret to Success”. It’s a raw and honest video of their company’s values.
Madison Mobley (@Build_A_Cloud), a mentor of mine once told me, “The faster you make 1,000 mistakes, the faster you’ll become successful as long as you learn from them.”
When was the last time you failed? When was the last time the company you represent failed? For me, I welcome risk and failure, I thrive on change. The company I represent is full of warm-welcomed innovators. It is not afraid to risk failure and to take chances, which I believe is why it has become the leader it is today.
So, are you ready to race?