Family Man. Entrepreneur. Author. Speaker.
[Episode #7] The Price of Failure

[Episode #7] The Price of Failure

⬇ Full Transcript of Episode #7 Below ⬇

Hey, this is Justin Prince.

Have you failed recently, and if you did, did you quit?

I want to talk to you about failure. You’re going to have to pay the price to succeed, okay? So there’s a price to pay, and one of the prices that you’re going to pay is failure. This price you’ll pay early, and you’ll pay often. You’re going to consistently [00:00:30] fail, and I want to invite you to learn how to update your belief system on failure because here’s the thing. We’ve been wired that failure equals bad. Failure equals not something you want to do.

I’ll give you guys an example. In school, when we’re students in school, if you get a D or an F, like a failing grade, they call your parents, and you have to go down to resource. They pull you out of class in front of all your students and you feel terrible about yourself and you just don’t feel good because you’re failing in school.

In sports, if you [00:01:00] fail and you don’t even make the team, you feel like you tried, you failed, feel like a loser, or you make the team and then you miss the shot. You make the team and you never even get in. You feel like a total failure, and failure equals pain. Failure equals bad.

Another example is in your job. You fail at your job and you get fired, and then you have to move out of your house or move out of your apartment, and you don’t have a job and you’re scared and you’re unemployed. Failure equals pain.

I want to share with you three insights that are going to help you to use your failure to help you succeed, so to actually change the way that you perceive failure and actually [00:01:30] use it as part of the strength of what you accomplish.

So number one, remember this, failure is not a person. Failure is an event. So you’re not a failure if you failed. It was just an event in your life. It was just a moment. I just fail, fail, fail, fail, fail. I’m not a failure. I just move to the next thing.

So I’m going to encourage you to fail early. I’m going to encourage you to fail often and to fail forward. As an entrepreneur, as a leader, as a sales professional, you’re going to fail. It’s part of the price you have to pay. Just know that going in. The bigger your dream, the bigger the price. So [00:02:00] you know going in, I’m going to fail early, I’m going to fail often, and I’m going to fail forward every single time. I’m going to keep learning as I go.

Number two, failure is not final. Failure is fertilizer. Now understand this. Your success will blossom out of the fertilizer of failure. You will become the person you’re trying to become. You will build the business and earn the income and hit the ranks and the achievement and the recognition and the impact and the influence you’re trying to hit through the fertilizer of failure. [00:02:30] It’s not final. It’s fertilizer. It just happens every single day. You learn to just work through it. It’s part of the price you pay, and that’s just how you overcome it.

Number three is be grateful. The greatest teacher is failure. When you fail, you learn. Here’s what I want to share with you. You learn more when you fail than when you succeed. When everything is going great you don’t learn as much, and I’m not saying you don’t learn anything. We all want that to happen, but you’ll learn more as you fail.

John C. Maxwell wrote the book Win or Learn. This is [00:03:00] how I want you to think about it. Be grateful for your failures because you get to start asking the questions, which is, “What did I learn? How can I be better? What am I learning?” So right now, ask yourself, that next failure, the thing you just recently failed at, what did you learn? Did you learn how to become more resilient, how to overcome? What did you learn that you can do better next time? You either win next time or you learn or you learn or you learn until you blossom in that fertilizer of failure. So guys I want you to remember your dreams, your goals. They’re important. Your pursuing [00:03:30] them is worth it, and your accomplishing them is necessary.

This Post Has 6 Comments

  1. Good points, Justin. I picked up a word many years ago to handle difficulty and disappointment. Imperturbable.
    “…if you can meet with Triumph or Disaster and treat these Impostors just the same…”– Rudyard Kipling

  2. Thank you Justin for reinforcing that “I” is Not a Failure! I participated in a leadership program through Landmark last year and was empowered with a new view of what it really means to fail. I appreciate your contribution.

    1. So cool Elva. I have heard incredible things about Landmark. I am grateful my video was helpful. Keep going!

  3. I look forward to each of your episodes! They give me the strength and want to move forward in my business.
    Thank you!!

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