Business Unfiltered
Failing vs Being a Failure
January 30, 2024
Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Failing vs Being a Failure 0:00: Defining failure and being a failure in business. Mercer defines failing as a natural part of life, happening every day while being a failure is a finality and an identity. Jeff agrees, adding that failing is feedback while being a failure is an emotional identity that can lead to a stopping point. 3:02 Impostor syndrome and comparing oneself to others. Jeff has struggled with impostor syndrome, feeling like a failure despite being successful by others' standards. Mercer has also experienced impostor syndrome, feeling inadequate compared to peers at high-level masterminds. He reflects on the importance of not comparing oneself to others, as it can lead to feelings of inadequacy and a lack of growth. 7:17: Personal growth and success through embracing failure. Jeff reveals his motivation for success: overcoming feelings of failure to reach his full potential. He acknowledges the importance of stepping out of his comfort zone to upgrade his life and achieve his goals. Jeff, emphasizes the importance of mindset and defining failure and success on one's terms. 10:57: Using masterminds for growth and learning. Mercer seeks to improve by joining mastermind groups, and acknowledging his shortcomings while being open to feedback from others. 13:28: Using data to avoid failure in business. Mercer emphasizes the importance of collecting data from micro failures to inform future decisions and avoid getting stuck in a failure mindset. Jeff agrees, highlighting the need for a growth mindset and instinct to make adjustments based on data, rather than relying on a single data point to determine success or failure. He emphasizes the importance of gathering data from various sources, to inform business decisions and avoid failure. 18:32: Embracing failure and finding alternative solutions. Mercer reflects on his past mindset towards failure, realizing he was fueled by it but now sees the importance of being open to feedback and adjusting his approach. He encourages the listener to embrace the idea of admitting when something is ugly and exploring new approaches, rather than stubbornly continuing down a specific path. 21:27: Marketing strategies and failure. Mercer discusses the importance of adaptability in business, citing the example of companies that double down on failed strategies. Jeff agrees, noting that playing to win versus playing not to lose can make a significant difference in success. He emphasizes the importance of understanding failure in marketing, highlighting that it's not just about personal failure but also failing to connect with the target audience. 25:33: Reframing failure as progress. Mercer discusses the importance of reframing failure as a necessary step towards progress, rather than a personal setback. Coaching support from others who are detached from the outcome can provide valuable insights and help reframe failure as a learning opportunity. 27:46: Failing vs. being a failure in business. Jeff believes the best coaches find good in what you say and lend advice on how to improve. Mercer ends with: "Don't be afraid to ask for help, and keep learning from failures."
Topics Covered In This Episode

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