Two powerful methods to learn from failure
Failure: it happens to everyone, including me. When you plan a project, new program or a big promotion for your business, sometimes things don’t work out as you expected. That’s not what matters most. What matters is how you think about it, work through the flop and learn from failure.
Let me share the two methods I use to review a business disappointment so I can get everything straight in my mind and move forward in strength.
1) Measure Backwards. Most people anticipate a certain level of success from a launch or promotion. This may sound crazy, but here is the best way to look at your results. Don’t compare your outcome with your ideal. When you do that, the ideal can seem unattainable because it never stays the same. For example, if you move into a million dollar home, you immediately start to notice the more expensive houses in your area and that diminishes your original ideal. Your ideal will change and never be enough, which is simply part of human nature.
A better way to look at results is to “measure backwards.” Look back over the past year or longer and compare results to previous launches or projects to see how you fared. In retrospect you can see how you could have been tickled pink to have the outcome you just manifested. Using the “measure backwards” method helps keep everything realistic and in perspective, and it allows you to feel good with your results.
2) Groundhog Day. Have you ever seen the movie Groundhog Day? In that film, Bill Murray’s character relives February 2nd multiple times, learning as he goes what will work to win over the woman he loves.
I encourage you to do the same with your business. I use this powerful method to improve my understanding of every new launch or project I have.
Take out a piece of paper and make three columns:
1. Left Column – Write what worked well
2. Middle column – Write what didn’t work
3. Right Column – Write what you would do differently next time (knowing what you know now)
This process helps clarify what lessons you learned and how to apply them to your next project to get better results. Admit to yourself that a price point wasn’t right, you didn’t market the program enough or you needed more testimonials on your sales page. Whatever you learn, use that knowledge as you move forward so you can improve and grow.
Your Client Attraction Assignment
Whether you just had a disappointment or are doing very well, you can learn and improve business results by evaluating your programs with these two methods. I recommend that you take time as this year comes to a close to review your programs with this practice. Learning from your past achievements or failures will set you up for a successful 2015.
This is just one of the many best practices we dive deep into with the students of The Client Attraction Business School, the premier training school for growth-minded entrepreneurs looking to quickly attract more clients and make more money. If you’re interested in finding out more, visit www.ClientAttractionBusinessSchool.com for more details. To speak to an enrollment coach, click here.