Create Opportunities for Great Success Through Failure in eCommerce, Ep #71
Play • 9 min

In eCommerce business, you have the opportunity to experience huge success through failure. But to reach that, you have to be willing to look a little foolish. Today on the golf course, I was reminded how so many aspects of my game relate to business. Both involve a lot of trial and error and permitting myself to look foolish. As I work on my golf swing, I have to go way beyond what feels comfortable. I may look foolish as I hit some crazy shots, but through those failures, I’m creating opportunities for that perfect swing. Listen to this episode to find out how this relates to business. 

Make minor changes to get HUGE results

Just like my golf game, I can make minor changes in business for potentially great gains. I have to be willing to fail forward and learn from mistakes. Be willing to fail and look foolish. Trying new things in business is hard to execute initially, but it may be the best steps toward success. Listen now to hear how the greatest success comes through failure. 

Remove the risk of big losses to go for greater gains

In the last episode, I talked about building an antifragile business, one that can’t be easily broken and gets stronger from stress. Learn how to build that kind of business. And as you build antifragility, you’ll want to experience new things and find the big wins in your business. But to do this, you have to be willing to look foolish. This may mean you lose at times. This is fine as long as you remove the risk of total catastrophic loss. Listen now to find out how this works.

Remember the Barbell Strategy to balance your eCommerce business

Also in the previous episode, I talked about how crucial the Barbell Strategy is and how to apply it to your business. This strategy eliminates the risk of catastrophic loss on one end. On the other end, you can be bold, take risks, and look foolish. This has been a huge lesson for me. Listen now to learn the importance of working within reason in your business.

Small business advantages you can count on

Those of us in small business have the opportunity to do things on our own terms. Take advantage of that liberty. It would be different if we had a multi-million dollar company with a large staff. There’s a lot more pressure in that scenario. Don’t try to be “big” and miss out on one of the greatest strengths of small business - the chance to experiment, to look foolish by choice. We have the opportunity for huge gains by doing something uncomfortable. But it’s those very things that are moving us in the direction to find that big win.

Outline of This Episode
  • [0:39] Great gains in business can come through failure
  • [3:43] How looking foolish can result in great gains in eCommerce
  • [5:41] Apply the Barbell Strategy to reap the benefits
Resources & People Mentioned
  • eCom Underground, Episode 70 - Find Out How Volatility In Business Can Kill Profits Or Create Opportunities
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