On December 31, 2014, I did one of the most difficult things I’ve ever had to do in my career. I shut down my company.
For over 4 years, I dedicated my entire life to RetailMLS. I felt that it was my one opportunity to make an impact and to build something truly great.
I failed.
By that time, the company probably should have been shut down a year sooner. But, I was so determined to make it work that I refused to acknowledge what I was being told by some investors, customers, and my most trusted advisors.
It wasn’t enough that I had the right product. It was simply the wrong time.
This sobering moment led to a period of deep reflection. Failure is a very personal thing and it’s a difficult feeling to grapple with.
Failure is intended to be a swift, painful experience that teaches a valuable lesson, not an agonizing illness that torments you for years.
I have this same conversation with many founders going through a similar experience. During a period of failure, take some time to collect yourself, reflect on the meaning and lessons learned, then get right back out there.
The antidote to failure is not success, it’s meaning. The meaning you derive from the mistakes along the way and the lessons you learned as a result. Learning from your failure and sharing those lessons with others is what makes the experience worthwhile.
In fact, the most accomplished professionals in any field have a string of failures in their wake.
They’re not successful in spite of their failures, they’re successful because of them.
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