FREE online courses on Maximum Managing People - If You Fail You Suffer

 

Few people have faced real and complex failure before it's too late. At issue is what exactly happens to the failure curve? The question is how temporary is the period of failure and are reactions to correct it temporary?

 

My experience has been that real and profound failure finds people seeking answers.  Like the recent dot com bust which saw so many high flying Internet firms crash to the ground.  Companies like Satyam Infoway were trading at $80 per share and are now below $5.  The hype surrounding the firm superseded the business model. And this is particularly true when the victim is experiencing a different set of problems which no one else has faced. Often there is a dimension, which, like a theatrical production, is playing itself out.

 

If you or your firm is failing, seek out friends who can help you reposition yourself as a different person seeking a different career track. During this period of repositioning there will however be an unfortunate series of blood sucking encounters against you. This is human nature where punishment is a fait accompli after failure. It sounds stupid but it exists. There are often emotional responses against the victimized person. Where you were known previously as “wonderboy” you are now considered a “con artist” with a “bad” reputation. People follow the paths of success and failure.

 

Your gut feel is an important protector against failure. But it must be responsive to the previous failures of others in the same area. Only then can it lead to preventing a catastrophe.

 

The key to avoiding failure is to insulate yourself to avoid areas of breakdown. Make sure you are dealing with true professionals who are self-interested in protecting your interests. Make sure you have effective checks and balances.

 

The funny thing is that failure is often related to extraneous factors. These are usually failures due to dependency depending on the external environment. We start to depend on people who fail us. Or we fail ourselves by depending on others. Thus be careful about being subject to the whims and fancies of the environment.