Failure is the compass for your business.

At least one of your business ideas has legs. If you’re fortunate it will be the first idea you try. Probably not, though. Understand that failure is part of the process.

Let failure direct your business to success

Get your first failure under your belt. Give an idea for a product or new business your best shot. Put your heart, time, and resources into it. Think of this product or business as if it’s the only company you’ll ever need to start because you’re so sure it’s going to be successful. You can’t imagine working on anything else after all the time and effort you put in.

Then, over time and possibly out of nowhere you realize it’s going to fail. I’ve been there before. At first, it’s one of the most horrible feelings in the world. Now that I learned failure is part of the process it’s no longer something I run from.

In the past, if I wanted to start a business I wouldn’t have been able to maintain a day job at the same time. I would either have to go all-in or not at all. It was risky and expensive. If I failed it meant I would suffer financial and emotional hardship.

Nowadays, we’re able to use failure as the compass for a business. Build ideas out. Push them forward. Get feedback from customers. When you realize your initial assumption to build a feature was wrong or miscalculated you don’t have to throw up your arms and quit. Pivot your business model to meet the needs of your customers. In some cases you’ll just need to scrap the idea completely so you can start the next idea.

Don’t build full featured products or businesses with too many bells and whistles. Start with one feature or one service. Slowly build your product from there.

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"Daniel is a unique visionary. Empathetic, sensitive and resourceful, he leads through facilitation. His programs are always built around the concept of getting the right people to participate. I look forward to seeing his initiatives work for the good of society." -Vijay Chakravarthy, Industrial Designer Society of America, Chapter President

"I raised $3 million from Eduardo Saverin (Co-Founder of Facebook) & Tim Draper (VC and Founder of Draper University). I owe a lot to Dan for simplifying complex ideas and being the initial spark of inspiration that motivated me to go for it all." -Josh Rosenheck

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