Success is a matter of timing!

I was originally going to write a post called don't drag out failure but reading it a second time, I realised that while my advice was quite valid, it focused on a negative rather than a positive and that's just not my style!

Personally, I would like to think I have never had a failure - only things that I will get back to :)

Of course, this is not true. The trouble is, as entrepreneurs we can get lost in the land of mediocre progress.

This is particularly the case with a 'side hustle', where the small fee for keeping a domain, hosting a website, and paying for a CRM can allow us to drag out a failure for some time.

The side hustle allows us to convince ourselves that our commitment is part time and a slow and steady pace is excepted. That's not to say that it cannot work, it just requires consistency.

 

What is definitely needed at the offset is a clear definition of success.

Metrics by which you can judge whether the opportunity is worth pursuing, worth committing to, or whether you have hit a point, where you should pull the plug and move onto testing something else. Ash Maurya the creator of the lean canvas calls this your 'minimum success criteria'.

This is hard, of course, because as with most passion projects we fall in love with the idea, and the more time we commit to it the less objective we become.

Create a number of metrics that become your bottom line, if you cannot get 50 customers in 6 months you do not continue for example or 'I will need to get 1000 signups to get to make this work'. Take the time to create a few metrics and make an agreement with yourself. The metrics allow you to stay objective, to think in terms of experimentation, not - absolute failure.

Moving to another idea is a simple part of the process, not a failure in your idea. Success becomes a process, something you draw closer to, with a concept that continually improves.

Now, setting failure and possible failure aside for a second, where you should leave it. Please also consider the fact that sometimes, your idea is great, the product is exceptional, and your marketing is even on point and you may still fail - why? It could also just be a matter of timing.

Bill Gross will tell you it is, in fact, the biggest factor in your success.


Longstory short, keep your head up, and keep on, keeping on! Success is around the corner.