The Importance Of Failure

Often times one of the biggest things that can hold us back from being successful is the fear of failure. It will cause us to believe certain things, take certain actions (or not) and can cripple us if we let it.

The key to success for your practice, business, and in life, is to understand that failure is "GOOD", not "bad". Failure it is absolutely necessary to learn what works.

Many of our societal beliefs tell us that failure is bad and we should avoid it and that success comes from being successful. --FALSE-- Success comes from failing, and lots of it!

Sam Ovens said, "If you avoid failure you guarantee failure. To embrace failure you guarantee success."

As you start to implement functional medicine with your patients, and new business strategies into your practice, remember that each time you try something, whether it fails or succeeds, it will give you feedback. With that feedback, you can iterate and improve upon it each time you do it until you achieve massive success.

Here's is a great quote on failure from Jeff Bezos, CEO of Amazon, one of the most successful people and now the richest man in the world. It was sent to Amazon shareholders and the principles apply to any business of any size.

"One area where I think we are especially distinctive is failure. I believe we are the best place in the world to fail (we have plenty of practice!), and failure and invention are inseparable twins. To invent you have to experiment, and if you know in advance that it’s going to work, it’s not an experiment. Most large organizations embrace the idea of invention, but are not willing to suffer the string of failed experiments necessary to get there. Outsized returns often come from betting against conventional wisdom, and conventional wisdom is usually right. Given a ten percent chance of a 100 times payoff, you should take that bet every time. But you’re still going to be wrong nine times out of ten. We all know that if you swing for the fences, you’re going to strike out a lot, but you’re also going to hit some home runs. The difference between baseball and business, however, is that baseball has a truncated outcome distribution. When you swing, no matter how well you connect with the ball, the most runs you can get is four. In business, every once in awhile, when you step up to the plate, you can score 1,000 runs. This long-tailed distribution of returns is why it’s important to be bold. Big winners pay for so many experiments."

Join the conversation in our Facebook group to share your failures and how they have helped you achieve success or the fears you have that may be holding you back from success.