Making a mistake on a spreadsheet; getting the boot from your job; or choosing the wrong career path. Failure, in many different guises, impacts every single one of us at some point, even the most successful of us.

Ever heard of the old saying, “form is temporary, class is permanent”, and failure can be just that – temporary. In fact, I know from my own journey that with the right mindset and attitude, failure can become the very thing that pushes you to greater things. 

It’s really all about reframing what you think you know about failure and recognising that going two steps forward and one step back is an often-necessary feature of the path to success. 

Obviously, this is rather easier said than done. Our culture rewards those who strive for perfection, but as we all know, perfection doesn’t exist, so why hold yourself to such unrealistic expectations? 

It’s not about deciding what do if you are to fail, but rather knowing how to respond when you do fail.

Five Ways to Become Firm Friends with Failure:

#1: Understand the Cause

To accept your failure, you must have the courage to stand and face your fear. Never underestimate how important this first stage really is. It’s a natural human reaction to attempt to turn your back on uncomfortable situations and emotions. After all, we have all made a mistake and tried to bury it under the sand, pass the buck, or make excuses. 

However, if you really want to grow and embrace failure, this just isn’t an option anymore.

In the immediate aftermath of something going wrong, don’t concern yourself with trying to repair a mistake or who might have been affected by it – first and foremost you need to understand what went wrong.

Own up, and rather than beating yourself up, realistically assess the outcome of your misstep and why you allowed it to come about. It’s crucial to do this before anything else.

#2: Take Ownership

Once you’ve determined the how’s, why’s and what’s of what has gone wrong, and how you might prevent this issue in the future, it’s time to take ownership. 

Whether you’re an employee or a business owner, everyone in that organisation will want you to summon the maturity, courage and strength of character to say that something hasn’t quite gone the way you wanted it to. 

This doesn’t need to be a long-drawn-out process. It’s as easy as sitting down with your colleagues, or even by yourself to examine why your start-up failed, why you forgot to send that important email and most importantly, what you’re doing to make sure it doesn’t happen again.

“There is no such thing as failure, there are only results.” – Tony Robbins

#3: Learn Your Lesson

Learning from your failure is the key aspect to making peace with your yourself. When you rearrange your thought process, you can give yourself the space to turn failure into opportunity

Think about any great achievement in your life – that promotion, buying your first home, or having children – each and every one of these required a certain aspect of changing the way you think, particularly the later. 

The same applies to when you make mistakes – after all, what’s the point in hammering yourself for something that is inherently human? And that’s all mistakes, and ultimately failure really are.

Once you’ve looked at yourself in the mirror and you’ve accepted your fate, vow to learn something from it. 

Before pressing ahead though, give yourself a pat on the back. While, yes, you’ve made a misstep somewhere along the line, celebrate the fact that you’ve learned something new on your journey.

#4: Move On

Quite often, it’s not the mistake itself that causes the damage. It’s the lasting impact of not being able to manage your guilt and regret. 

Do not allow the experience of failure to mar your future; don’t let it define your life and how you interact with the pursuit of success. Replaying your past repeatedly and wishing things had been different, will solve nothing.

Life isn’t fair, it never has been and never will be so; never fall into the trap of feeling as though you’re a victim, you’re not and it’s important to come to terms with that and move on.

Forgiving yourself is the most important part of embracing failure. You will slide into the victim trap if you cling on to those memories as a negative experience. Instead, continually remind yourself of what you learnt during this time.

#5: Share Your Experience 

Sharing your experiences about what you’ve learnt with those around you is great way to free yourself from the shackles of failure. Having said that though, it’s important to frame your narrative in the right way, no matter if you’re speaking as an employer, employee or even as a friend.

Don’t tow the usual line of, “Jeez, I’m so stupid, guess what happened to me a few weeks back.” Don’t give yourself the opportunity to fall into old habits and claim back your own narrative. 

Lead the story with your newly found viewpoint, “Guess what happened to me a few weeks back. It was a tough day, but I really learned a hard lesson.”

By telling the story in this way, you can incorporate each of the five points we’ve talked about in this piece.

Read more: addicted2success.com

Leading Thoughts

IDEAS shared have the power to expand perspectives, change thinking, and move lives. Here are two ideas for the curious mind to engage with:

I.

Elaine Kamarck on presidential responsibility:

“Despite of al he trappings of power—the big house on Pennsylvania Avenue, Camp David, Air Force One, never having to sit in a traffic jam (ever!)—the president is in charge of an entity over which he has fairly limited power. This is, of course, exactly the way the Founding Fathers wanted it. And yet, try telling that to the American public or to the world when something goes really wrong. As we have seen, large-scale governmental failure becomes presidential failure, whether the president likes it or not.”

Source: Why Presidents Fail And How They Can Succeed Again

II.

Brad Stulberg and Steve Magnes on how to be passionate:

“Mindfully living with passion starts with realizing that passion in and of itself doesn’t start off as either good or bad; it just is—a powerful emotion rooted in our biology and psychology. It’s not something we magically find, but something that we develop by following our interests and incrementally devoting more of our time and energy to them. The next step to mindfully living with passion is to become aware of its dark side. Only by understanding the pitfalls of obsessive and fear -driven passion—and taking deliberate steps to avoid them—does passion gain the potential to be productive. But avoiding pitfalls is not enough. An equal challenge is bucking current trends that favor instant gratification and instead actively adopting the mastery mind-set: maintaining drive from within; focusing on the process over results; not worrying about being the best but worrying about being the best at getting better; embracing acute failure for chronic gains; practicing patience; and paying full attention to our pursuits.”

Source: The Passion Paradox: A Guide to Going All In, Finding Success, and Discovering the Benefits of an Unbalanced Life

* * *

Look for these ideas every Thursday on the Leading Blog. Find more ideas on the LeadingThoughts index.

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The first stage of growing your business requires the basics of gaining clients, selling your services, and fulfilling your services. While new, your self-reliance makes it easier to step into the newness of the situation and build your business.

As you reach the stage of scalability, you find yourself having to rely on the efforts of others. You build your team and find that you have less control over the work. You have people looking to you for leadership, direction, and encouragement. 

The weight of those responsibilities launches you into a transition that will require you to work as much on yourself as you work on your business. Each day in your business requires you to manage opportunities, problems, and people in a new way.

In short, your business requires something new of you, which is scary. Suddenly, you are wrestling with the fear of failure as you work on leading your team and business to the next level.

Failure is learning, and learning is a necessary part of success. That makes sense intellectually, but without tools and techniques to harness yourself, it will be challenging to create an environment for success to happen.

Get fear out of the driver’s seat

After the 2015 release of Inside Out, a Pixar Film about the personification of 5 emotions, stories were shared with the creators that told of the impact the movie had on its viewers. One of the stories that emerged was of a young family at their local pool. The son, a young boy, caught the eyes of his parents as he steadily marched to the highest dive board.

His parents held their breath as they watched their child climb the ladder rung by rung to the top, walk to the edge, take a breath, and proceed to dive off into the pool below. What was so amazing about this seemingly simple, normal act? 

Their son was terrified of the high dive. Imagine being so afraid that your body launches into a shivering terror over one thing that seems so easy for others. When the little boy reached his parents, they asked, “What changed? That was amazing, but how?”

The little boy shared that when he watched the film, he realized that fear was natural and healthy, but he had allowed fear to be in the driver’s seat for too long. “I just asked fear to get out of the driver’s seat and let joy have a turn.”

Courage is not the absence of fear; it’s the ability to step through fear. Because fear is one of the most potent basic human emotions, you are not going to be able to rid yourself of fear, but you can learn to manage it.

“Everything you want is on the other side of fear.”  – Jack Canfield

Get it on paper

This exercise is not one to amplify your fear, but you do need to give it a name. The process of writing things by hand has an impact of pulling thoughts out of your head. When something like fear repeats over and over in your mind, it magnifies and amplifies. With this amplification, the fear grows and creates inaction because the fear seems insurmountable. Writing out the fear names it. If you name it, you can actively mitigate it.

Mitigate the Risks

“What is the worst thing that could happen?” The purpose of the question is not to find all the ways you can fail. It’s to understand what the perceived risks are. If you know what the risks are, then you can put in place watch guards and plans to reduce those risks. You can cut things off at the pass.

When you list out all of the things that could happen, you will likely find that 50% of the list is not possible or probable. 

An additional 25% of the list is more about how you fear that you’ll be perceived by others (give yourself a little grace with these). What would you say to the 10-year-old version of yourself who was about to try something new and had the same fears? You would likely extend more kindness and grace to others than you are willing to give yourself.

The remaining 25% of the list comprises risks that you can mitigate or reduce. What are the metrics you could put into place to act as an early warning system? If, in the unlikely case, these risks come to reality, what plan can you put into place?

This little exercise is more impactful than you can imagine. It puts you back in control by adopting a more strategic approach to the situation—and that’s right where you want to be.

“There is only one thing that makes a dream impossible to achieve: the fear of failure.” – Paulo Coelho

Paint the picture

In Brene Brown’s book, ‘Dare to Lead’, she tells a story of working with company leaders who liked to ‘paint it done’ by defining your expectations, the requirements, and what success will look like. You verbally paint the picture of what ‘done’ means in your vision of success. The purpose of the exercise is to define what the end result would be so that everyone has a clear expectation of what success is.

What are your expectations of the situation? If your fear is about failure, what would be heaven? How would you feel? How would you know that you achieved success? What would your team say? What would the office sound like?

Painting the picture of success is critical to achieving success. It also helps highlight when you are on the right path.

Manage the process, not the work

When it comes to your team, the fear of failure from the business owner manifests a situation where the owner micromanages the team. A business owner can quickly become angry and frustrated with their team. In the end, the fear of failure drives the business owner into paranoia and then boom—the business owner creates the physical manifestation of what they fear.

If you find yourself headed down this road, know that it is normal. This situation is a critical place of transition for you. The key is to shift your primary focus from ‘doing the work’ to ‘getting the work done.’

For many of us, there has been a certain amount of pride and value placed on our ability to do the work, to put in the hours. If your business is going to continue to grow, you need to be able to let go of the work and find value in guiding others toward a common goal.

Trust your team to get the job done. Manage the results that you are looking to achieve and allow your team to rise to the occasion. While you will have missteps in hiring and managing your team, all these learnings create a better definition of success.

You are likely to have some bumps and scrapes along the way. When that happens, take ownership and then take positive action. Ask for grace from yourself and from your team. Your team is not looking to you for perfection. They will respect you for learning along the way while everyone in the business grows and shares in the benefit of being in it together.

How do you manage to control your fear of failure? Share your thoughts and ideas with us below!

Read more: addicted2success.com

Failure and success are part of our lives. But it is challenging to accept your failures and bring yourself above it. Failure is mere a cornerstone to your success as they can often point the right path to follow. Failures of all types must be handled in the best way possible. But when life brings you down, you have to learn to face your failures and fears to prepare for success. Not sure if you can do it or not?

Here are the best ways that can help you dust failures off yourself and get back to your routines easily:

1. Emotionally Motivating Environment

When you come across your fails, it is natural to feel hurt emotionally. 48% of people admit the negative impact of stress on the professional and personal life. Therefore, it is essential to come out of the emotional state and let yourself heal. No one is expecting you to recover right away.

Take your time and find an emotionally motivating environment that gives you the power to take over your failures. During this phase, you are required to concentrate on whatever good you can find around you. An emotionally healing environment can reduce your stress and make the healing process faster.

2. Plan Your Next Actions

The best way to reverse the negative impacts of failure is to move forward. Decide what you are going to do next. Your next actions should be productive enough to bring back the results that you wanted.  If the effects of failure are irreversible, try to find another way that can help you succeed. Even if you haven’t prepared for the possibilities of encountering failure, there is still time to plan your actions and your approach to managing the current situation. It’ll give your mind a diversion and help you think your way through the failure you have encountered.

“Losers quit when they fail. Winners fail until they succeed.” – Robert Kiyosaki

3. Turn Your Mistakes Into Your Lessons

Failures are the stepping stones to your success. Each failure you encounter brings you one step closer to success and, ultimately, points you the right way to success. It is crucial to learn from the mistakes you have made and never to repeat them. 

And failure holds the potential to teach you that. Mistakes that are responsible for your failure points towards the right way to complete a task. And this is what we need to succeed in our life. From now on, you do not require the direction of anyone as your mistakes are guiding you in the right way.

4. Mistakes Are Natural, Don’t Pity Them

We all make mistakes. Most of the successful entrepreneurs of today have learned many lessons from their failures and became successful later on. There is nothing wrong with failing or making mistakes. Without learning the right way to perform tasks, it is obvious to fail multiple times.

Therefore, remember to get yourself up from the pit of failures or mistakes and focus on what you are going to do next. Despite experiencing what failure feels like, do not fear to face it again. The way to success passes through multiple failures, and by learning the right way to perform operations, you can ensure you achieve the success that lasts long.

5. Find Inspiration

There are a plethora of motivators in today’s world who focus on encouraging personnel to bring out their best. Seek inspiration from them. The internet has brought the entire world on a common platform, and it has become easier than ever to contact anyone from any corner of the globe.

Search for a motivator who relates to your failures and current situation the most. Seek their support. You can also find motivation and inspiration around you from your friends and family. During your tough times, all you need is a shoulder to cry on as they can motivate you to move further and focus on the best aspects of your life.

6. Re-Evaluate and Plan for the Best

What went wrong? The answer to this question can help you evaluate your actions and find the possible mistakes you made that caused your failure. For example, a startup owner launching their ride-hailing business can assess their efforts that precipitated the unexpected failure of their business idea.

Whether they lacked in providing efficient services, or the application was not a fit, and many more can be the reason behind their failure. Similarly, you can find out the mistakes that occurred, or you did that contributed to your failure. This helps you understand the actions that attract failure and plan out your next steps accordingly to never let them happen again.

“Just because you fail once doesn’t mean you’re gonna fail at everything.” – Marilyn Monroe

7. Expect the Best Results

Even after failing multiple times, you must keep your hopes high. The fear of failure often causes a trauma that doesn’t let a person get over the failures they receive for their best efforts. But this is the time when you need to visualize your success. Without fearing the failures, you must plan to succeed by keeping the lessons you have learned from your mistakes.

Expecting a tangible outcome for your efforts can help you keep your hopes high and alive. Visualize your success in your mind and plan for the actions you find are suitable for achieving it. The best way to fight your failures is by improving on the efforts and facing it head-on.

Do not let failures affect your self-esteem. Keep your morals high, and do not lose self-confidence. By learning how to overcome these tough situations, you can achieve success and keep your failures at bay. A positive environment, motivators, and the ability to learn from your failures can help you reach the peak of success.

Read more: addicted2success.com

I remember the day in vivid detail. I was on a weekend trip visiting my girlfriend at the time in Arizona. She had decided that we should join her friends to go “cliff jumping.”  We were early on in our dating and she obviously had no idea that I was not fond of heights. So “cliffs” and jumping off of them… No thanks!

I inevitably found myself on the edge of a 40-foot cliff peering down at a vast blue canvas of water. Then I realized if I didn’t jump, I’d have to start the walk of shame back down the cliff. This was a lose-lose situation for me.

Fear had me. I didn’t want to jump, but I also didn’t want to look bad in front of my girlfriend’s friends. So I jumped and in that moment, I had defied my brain and my neurochemistry.

Our brains are wired to protect us, not to push us towards our goals. Our brains are wired to look for anything that could be potentially dangerous or threatening and keep us as far away from it as possible by using fear. The problem is not all situations warrant fear.

There is a saying in neuroscience that says, “the brain wires the way it fires”, meaning the more you do a certain activity, the more the brain lays down wiring to make that action or activity easier.

‘Fears are educated into us, and can, if we wish, be educated out.’ – Karl Augustus Menninger

When we let fear keep us stagnant and we continue to do the same things that are comfortable, our brain gets “hardwired” to stay comfortable. We become “stagnant.” This can become debilitating for some of us and prevent us from encountering the very experiences we need to grow and succeed.

When we, in spite of our fear, do the challenging things that are outside our comfort zone, we begin to hardwire into our brain change, adaptability, creativity, growth, perspective, and happiness because we stretch the boundaries of our brain’s capabilities and force it to adapt rather than “playing it safe.”

An elite athlete didn’t make it where they are today by going into their training and never pushing past their comfort zone. They constantly pushed their limits of comfort to force their bodies and minds to grow to that of a top performer. The same principle applies to our brains. If we let fear dictate our actions in any area of our lives, it will stunt your growth in that area.

So what’s the first step? How do we go about conquering our fears whether it’s public speaking, starting a business, or launching the product or service? See below:
1. Journal Your Fears

Write down all the fears you have, big or small. Contrary to opinion “size does not matter.” Your brain still operates the same with all types of fear. The key is to first acknowledge what you are fearful about and bring it to light. Be as specific as possible.

2. Prioritize Your Fears

I then rank my fears from highest to lowest in terms of how often I think about this fear and/or how much it disrupts my life. You may find some fears combine into a broader category and that’s ok — we’ll get to that. So for now identify your biggest fear.

3. Support Your Belief in Yourself

I don’t mean just “believe in yourself.” What I mean is to build in support systems that will support your belief in yourself, so that when you start taking action, your support systems will solidify those new experiences and form deeper, more meaningful, and lasting beliefs in yourself.

It may look like building a list of affirmations that you say every morning or a meditation. Whatever it is, it needs to be uplifting and empowering you towards conquering your goals.

4. Take Action & Start Small

Look at your list and identify what your biggest fear is. That’s the beast we’re going to tackle long term, but for some that may seem like a big stretch at first. So instead, see what your 5th biggest fear is, and that’s where you’ll start.

What we will then do is build our way up and take a ride on the “Momentum Train.” Starting small with taking actions toward your lower priority fears and then building up helps your brain build momentum, which provides your brain with plenty of courage and motivation to tackle the #1 fear on your list.

‘Avoiding danger is no safer in the long run than outright exposure. The fearful are caught as often as the bold.’ – Helen Keller

5. No Time Limit, Just Consistency

Most goals should be limited to a time domain. For the goal of tackling a fear, time can be a challenging factor to set. Some of these fears may have been unknowingly building up for decades without your knowledge. So I don’t recommend setting a time on when you are “going to conquer your fear.”

Instead set appointments to regularly meet and address your fear. If you’re fear is public speaking, then go to a local Toastmasters once a week. The more consistent you can be, the better.

6. Reframe and Reinforce

As you begin to address these fears, make sure you are reinforcing the experiences you have in a positive perspective. For instance, if you want to be less fearful of public speaking and decide to try out a local toastmasters group, your first time speaking to the group might feel like a train wreck, but when you look back on the situation you can acknowledge that that actually pushed past your fear and accomplished your goal.

7. Rinse and Repeat

This isn’t a quick fix. It may take some time. There’s always a new fear or challenge awaiting us. The key is to have systems like this in place to address those challenges properly rather than allowing ourselves to succumb to fear and derail our lives from their fullest potential.

How do you handle your fears? Comment below!

Image courtesy of Twenty20.com

Read more: addicted2success.com

When you stop and think about it a big part of leadership is about convincing people to do things differently. It could be persuading customers to buy your product or try your service. It could be getting employees or vendors to raise their game. It could be convincing regulators and other rules makers to support what you want to do. In each of these examples or a dozen others that you could come up with, success depends on getting people to change their behaviors.

And, as oft-cited research from Gallup suggests, there’s about a 70 percent chance you’re going to fail.

Why is it that so many change initiatives fail? Based on a few decades of experience as a corporate leader or a coach to leaders, I regularly see three related reasons your change initiative will fail. They all involve too much of this and not enough of that.

Here they are and what you can do to increase your odds of success:

Too much solution, not enough acceptance: Years ago, I learned a simple little equation about change management developed by leaders at GE. It’s Q x A = E. What it means is the quality of your technical solution multiplied by the acceptance strategy for your solution equals your overall effectiveness. If you score 10 out of 10 on both the Q and the A then you end up with a 100 percent effective solution. Most leaders and organizations don’t end up at 100 percent though and it’s rarely because they don’t have a good enough technical solution. The relatively easy part of the equation is pulling together a group of subject matter experts to develop a good to great solution. What usually doesn’t get the same amount of effort is putting together an awesome strategy for stakeholder acceptance of the solution.  The math makes the impact of that kind of obvious. If you score a 10 on the Q and a 3 on the A, you’re only going to be 30 percent effective. A score like that is usually a fail.

Too much thinking, not enough feeling: Overemphasizing the quality of the technical solution and underplaying the acceptance strategy stems from the second reason most change initiatives fail. There’s too much emphasis on logical thinking and not enough emphasis on emotional feeling. The problem with that is people almost always take actions based on their emotional feeling rather than their logical thinking. Too many leaders believe that just getting their logical thoughts out there about the change will be enough to win people over. As in, “They’ll see the logic of this and then we’ll be good to go.” Logical to you, maybe; perhaps not so much to them. A more effective approach is to consider how you need people to feel to take the actions that will lead to the change result you’re hoping for. For instance, if they’re feeling angry, ignored or disengaged, they’re probably not going to take the actions you’d like for them to take. If, on the other hand, they’re feeling excited, appreciated and engaged, you’re much more likely to generate actions that lead to positive outcomes. What do you need to do as a leader to get your stakeholders’ feeling more supportive of your change?

Too much results, not enough relationships: Here’s a hint for answering that last question. Focus at least as much on the relationships as you do the results. You’ve probably picked up by now on one of the big things these three reasons for change failure all have in common. The mistake too many leaders make is over-indexing on “what” and under on the “how” of the change. One variant of this is when their time, attention and behavioral energy is focused too much on the results and not enough on the relationships that will yield the results. Great change leaders exhibit roughly equal measures of results-oriented behaviors and relationship-oriented behaviors. I summarized the differences between the two in this post from ten (!) years ago. The spoiler alert is that a lot of the differences I outlined come down to that old idea that they don’t care how much you know until they know how much you care. Relationship building works best when it is part of your everyday routine and not a last-minute activity like you’re cramming for a final exam.

Why do change initiatives fail? There are lots of reasons – way more than I covered here. But if you want to do a post-mortem on why your latest crashed and burned or prevent the next one from doing so, I’d argue that the three I’ve listed here are a pretty good place to start.

If you liked what you read here, subscribe here to get my latest ideas on how to lead and live at your best.

Read more: eblingroup.com

By now, you’ve undoubtedly heard of the infamous Fyre Festival. This 2017 music festival turned disaster/international laughing stock has re-entered the public eye due to documentaries released by both Netflix and Hulu that detailed precisely what went down. If you haven’t watched either doc, let’s just say it’s somehow much worse than we all initially thought.

The good news is that entrepreneurs can learn some extremely valuable lessons from Billy McFarland, the leading man behind Fyre, was described as “either the smartest guy in the room or absolutely insane” by his team. He’s now facing 6 years in federal prison and yet started running scams when he was out from bail after the first fiasco.

Entrepreneurs need to pay attention to precisely what happened here, so they don’t repeat the same mistakes. Startup culture tends to idolize guys like McFarland who take significant risks. Sometimes, it works out, and genius truly is present. Sometimes, you turn into a laughing stock.

Here are some key takeaways to make sure you don’t make the same mistakes:
1. Backup fantasy with fact

This is where you need to start. It’s great to dream big and make plans; well over 50% of Americans want to be entrepreneurs, reports Forbes. However, in reality, only 4% of the population actually are entrepreneurs.

How is there such a massive difference between desires and the actual work of being an entrepreneur? The answer lies in execution. The reality of being your own boss is stressful, draining, and requires large quantities of talent, hard work, and luck in turn.

When the Fyre Festival trailer dropped, it was clearly selling a fantasy. It branded itself as “a quest to push beyond…the boundaries of impossible.” World class supermodels like Bella Hadid and Haley Baldwin swimming in crystal clear waters, beautiful crowds at large concerts, endless luxury, waterside cabanas: these were just a few of the promised teased by the trailer.

The reality of the event has been widely shared: leftover hurricane relief tents, soaking wet mattresses, limited food and water, no influencers in sight. Fyre Festival created the fantasy with absolutely no plan to back it up. After they sold 95% tickets within 48 hours of dropping the trailer, the plan stopped there.

A realistic timeline and solid plan are necessary for all entrepreneurial visions to become a reality. Don’t get caught up in the dream at the expense of the details! That’s what makes that 4% successful over any others.

2. Don’t surround yourself with yes men

Billy McFarland was the ideas guy, the dreamer, but certainly not the planner. He had a team of dozens of successful, artistic designers and organizers working under him. These people had no problem coming forward for interviews with each of the documentaries, but at the time, no one could voice their very reasonable concerns.

McFarland was reported over and over as having a ton of charisma and positivity, and would answer any issues with “We’re not a problems-focused group, we’re a solutions-oriented group, we need to have a positive attitude about this.”

These buzzwords probably sound familiar. While positivity is a great trait to have while dealing with stress, it can only get you so far. Certainly not all the way to the Bahamas. You need a team that will listen to you and support you, sure, but you need someone to tell you when you’re off the mark. “Leaders need to surround themselves with those who are willing to step in and prevent a disastrous decision from taking place,” says Art Rainer.

Mckinsey reports that 97% of employees and executives believe that lack of alignment impacts the outcome of a task or project. Build your team with humility in mind. You need to be checked sometimes, and admitting that is an enormous strength.

3. Know when to call it

Sometimes, your business idea just isn’t going to succeed. That’s just a reality of the entrepreneurial life. The key here is to know when to call it quits. There were a laughable amount of points throughout the “planning” process where admitting defeat would have saved the entire team time, money, stress, and jail time.

McFarland ignored all of it, and finally cracked “when all the guest arrived to the mess,” explains Complex. “After all the guests had left and locals who worked on the festival started demanding money, he was nowhere to be seen.”

The Fyre team could have postponed the festival, explained the issue, or just flat out cancelled, especially when the night before Day 1 the festival site was flooded with rain and the tents and mattresses were ruined, not to mention, the stages were half built and there wasn’t enough temporary housing for 2/3rds of the attendees. Bad press and financial blowback would have been better than the complete disaster of the actual event.

Make sure to begin with a bulletproof process for your entire business pitch, including a plan for failure. Cover your financial bases, make sure everyone involved gets paid appropriately, and learn for the future.

Not every idea will succeed, and that might actually be a good thing for your long term career. You just need to know when to call it. Learn from the worst, become the best. There’s a reason Fyre Festival has become so notorious. The power of influencers and social media as well as the manipulations of McFarland and the naivety of his team all combined into one of the most memorable events of the last few years.

Entrepreneurs just getting started as well as seasoned business people need to take note and make sure not to repeat these same mistakes. Have a solid plan, a reasonable and communicative team, and a realistic timeline, and you’ll be on the right track.

Read more: addicted2success.com