Tuesday, May 7, 2013

Embrace Failure

(1:01)  I'd like to discuss a concept I believe is critical to successful marketing but makes many feel discomfort. To reach new levels of success as individuals and businesses, you must learn to embrace failure.

(0:56) It might be hard to think of failure as something positive but some of history's greatest minds have acknowledged the role of failure in ultimate success. Thomas Edison, Theodore Roosevelt, Winston Churchill, Robert Kennedy are just a few who have acknowledged that true success can only be accomplished by not being afraid to fail along the way.

(0:49) I talk to marinas who are struggling with how to deal with the rapidly changing world of technology. They struggle with ways to utilize its power to reach out to their current and potential customers. There is no shortage of people and businesses willing to offer the golden solution - SEO, Facebook, Twitter, mass emails, banner ads. I'm often asked, "what's the best thing to do." The truth is, I don't know. And each "best thing" will change depending on the goals and needs of each organization.

(0:38) Whenever there are huge paradigm shifts, like the ones caused by the digital world we now live in, the old ways no longer hold. New ways of doings things emerge and evolve. While change often brings uncertainty, it also presents the greatest opportunities. But you've got to be willing to experiment and you can't be afraid to fail.

(0:29) The critical key with experimentation is to develop and implement your plan using your best information and resources available. Then measure the results. This measurement step is critical and is often ignored.

(0:21) Next, learn from the process and use the knowledge to develop and implement your next experiment plan. It is important, especially with new concepts, to reach beyond that comfortable place. Try something you've never tried before and don't worry about ultimate success or failure. It is only failure if you don't try something new or don't learn from everything you try.

(0:11) Embracing failure is not a pass to ignore your homework. And you must develop and implement your marketing plan with care. What I am saying is to not be afraid to sometimes have a plan fall short. Because that fear is what will prevent you from finding that golden idea or that new concept that will take you to the next level of success.

(0:02) And that's the marina minute.