Tanner SmithCEO Syndicate Marketing | Scaling 7, 8, & 9 figure businesses | Performance marketing for ecom, local, and info businesses

Why failure should be our best friend

27 Oct 2023 · 1 min

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1:18

In this motivational monologue, the speaker shares a pivotal piece of advice from a mentor: treat failure as your best friend. He explains that shifting from a success‑only mindset to embracing failure is essential for true achievement. By “failing fast” and “failing forward,” entrepreneurs can use each setback as a learning medium that accelerates growth. The speaker specifically addresses e‑commerce and other business owners struggling with ad performance, ROAS, and profitability, urging them to view poor results as opportunities to iterate, experiment, and ultimately unlock higher revenue. The core message is that the more you allow yourself to fail, the more you position yourself to succeed, provided you stay uncomfortable, analyze failures, and adjust strategies accordingly.

Chapters

One of the best pieces of advice that I heard from a mentor of mine when I was starting my businesses was to make failure your best friend. And when he said that, I was kind of shocked because, man, my whole life it was be successful, show the successes, be proud of your successes, right? T-ball, we're all winners, you never fail, everyone's a winner. But ultimately, when he said that to me and I started my business, I realized why. And that's because the only way to actually become successful is to fail. Making failure your best friend essentially means that you're going to embrace the failure and recognize that the failure is the medium to be successful. And in doing so, that you fail forward, you fail fast, and you understand that the failure is not just a means to an end, but it ultimately is the end. Because the more you can fail, the more you can succeed. To all of you guys that are struggling right now, maybe e-com business owners and other business owners that are struggling to actually get your ads across the finish line and make money and get the profit, the ROAS that you're wanting to, don't consider that a failure and make that your best friend. Get into that ecosystem of feeling uncomfortable with it and figure out what you can do differently so that you can actually get that ROAS and get that revenue and unlock that type of profitability in your business that you're looking for. And embracing that failure, failing fast and failing forward is going to allow you to do that.