Transworld Blog

From business brokerage to mergers and acquisitions; we are the business sale specialists.

All Posts

How Failure Can Clear The Way For Success

 

AdobeStock_91958095_sm

 

We all know the crushing embarrassment and shame failure brings, and we don't go around bragging about ours. But have you ever stopped to consider that your failures have not only made you who you are, they may have actually helped to pave your road to success, or are right now helping you pave the road to success. So despair not and take a listen.

On Sunday night's Ted Radio Hour Guy Raz talks to four people whose failures (with an s) helped make them better and smarter, and cleared the way for their eventual success.

The first interview is with Astro Teller, who oversees 'X', a "moonshot" factory, or incubator of ideas, who rewards colleagues when their projects fail to give them confidence to keep striving so they will eventually achieve their big goal. Here's that interview.

The second interview is with Tim Harford, an economist who identifies similar characteristics in successful industrial and economic systems and argues that they work better when they are allowed to evolve through trial and error. The most interesting part of the talk for me is when Tim describes "loss aversion" and how it causes us to make really bad decisions. Listen here.

Casey Gerald chased success, finding it again and again, but to him it was unfulfilling and so he saw his successes as failures. Until one day he came to the realization that his definition of success would come in the form of service to his community. You can find the conversation here.

Last but not least Guy spoke with writer Lidia Yuknavitch, who based on past experiences and failures was unable to value herself as someone who could succeed, and would sabotage opportunities that came her way. Find out how she was able to find success despite herself.

What failures have you experienced, that you later drew on to be successful?

 

 

 

 

Scott Hislop
Scott Hislop
CEO & Owner at Transworld Business Advisors | Business Brokers Helping Entrepreneurs Achieve Their Dreams and Goals Through the Complex Process of Buying or Selling a Business

Related Posts

Case Study: Selling a High-End RV Dealership in an Uncertain Economy

Sales Timeline: 18 months List Price: Private The Background Located in the Twin Cities metro, this was not your typical RV lot. Where you might imagine pop-up tent trailers going for $15–20K, the owner and his team specialized in high-end adventure vans, or “Class B” RVs, ranging between $100–200K.

Case Study: How Transworld Helped PWC Sell Their Business in 7 Months

  Sales Timeline: 7 Months   The Background Professional Wireless Communications. Inc. (PWC) has provided reliable and affordable two-way radio solutions in Minnesota and Iowa for 25 years. The company has a loyal and diverse clientele, from schools and hotels to casinos and stores. Pat and Paula Green, a husband-and-wife duo, started the business from scratch. With Mark, their salesperson and 20% owner, they have built a profitable and reputable enterprise. As they neared retirement, the Greens wanted to sell the company and focus on family. Mark also desired to sell, but remain employed by PWC.

Case Study: Selling a Pet-Sitting Business in Less Than 4 Months

  Sales Timeline: Less than 4 months Sale Price: $320k   The Background Located in the Twin Cities, the owner of Whiskers to Tails Petsitting had proven to be a successful entrepreneur focused on providing care for animals in the home. As a former employee, the owner took over the business in 2019 and successfully operated it through the COVID-19 pandemic.

Your Goals Are Just the Beginning

Talk to one of our Advisors today about next steps.

Talk to a Business Advisor
icon of an enevelope

E-mail address

minnesota@tworld.com

icon of a telephone

Contact us

+(888) 290-5232

icon of hands shaking

Confidential Consultation

Schedule a Meeting