Failure is a beautiful, fearful and powerful word, all rolled in one.  Failure reminds us that it is a default option when things don’t go according to plan.  Other, gentler words that can also be used are hiccup, setback, reorganize, etc.

As you get older, and become an accomplished individual, your confidence in everything you do seems to grow and you feel invincible…. Then you go out and try a new concept/startup.  You have only run theories on your concept, but have NO practical experience in the field and yet your gut tells you that you are on the right path.

That is when failure stares you in the eye and reminds you that no matter who or what you are, failing is an important lesson.  As a matter of fact, it is the only lesson that teaches us to succeed.  In this particular instance, I am defining failure for not achieving immediate success.

There is a lot left to learn, but here is what I have learned so far:

1. Focus on growing a long term, sustainable and cash flow rich business – This first point is very hard to digest for a technology entrepreneur where double or triple digit growth is the norm.  Most technology entrepreneurs do not look past 3 years. I have to remind myself constantly that every step must consist of long term thinking.
2. Fight the Temptation to cut down all sales and marketing efforts – It’s like someone offering you a cold beer after you have had a few scotches already. Great temptation, but bad idea with bad results.  Keep pushing on all fronts as sales growth is the only savior.
3. Learn Social Media Marketing – The game has changed and Social Media will fail you if you don’t know how to use it. So learn as fast as you can or hire someone who is an expert.
4. Previous Successes mean NOTHING – We as individuals, tend to forget that there is a time, team and circumstances that allow a company, group or individual to succeed. Right place, Right time.  So throw the misconception that you are the s**t.  Just be a humble student and teacher.
5. Laugh as much as you can – It will keep you healthy and everyone around you motivated and positive.  Nothing replaces a good sense of humor.  My father has laughed through all the obstacles thrown at him his entire life and all I can say is that he is the most content and happy person I know.

Personally, I am grateful everyday to have the opportunity to be an entrepreneur and even more grateful to have an amazing and loving family.  Puts everything into perspective.

Here is a quote I heard today, I am paraphrasing “Failure or bad news always comes suddenly while success comes gradually”

The saga continues…… Life is short, so Live, Love & Eat…..