Redefining FAILURE: Your Roadmap to Real Growth

In this episode, we transform the perception of failure and introduce a powerful framework to turn setbacks into stepping stones. Learn how to redefine failure as feedback, acknowledge and investigate the root causes, extract valuable lessons, understand the bigger picture, realign your goals, and evolve into your next-level self. Don't miss practical tips and inspiring insights to elevate your personal and professional growth. Subscribe for weekly strategies to nurture your development and live a life of purpose, joy, and confidence.
00:00 Introduction to Investor Evolution
00:21 Redefining Failure
00:54 Personal Story of Setback
01:47 Introducing the Failure Framework
02:26 Breaking Down the Failure Framework
02:57 Feedback: The First Step
06:27 Acknowledging Setbacks
08:20 Investigating Root Causes
11:09 Learning from Experiences
12:27 Understanding the Bigger Picture
14:14 Realigning with Your Vision
15:25 Evolving Through Failure
16:12 Recap and Call to Action
18:22 Final Thoughts and Encouragement

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Transcript

0:00

Welcome to investor evolution, elevate. Whether you're looking to create financial freedom, reclaim your time, or find harmony while you're thriving in your career, this show is for you. Join me each week as we uncover strategies to nurture your personal development and elevate your life to new heights. So you can live with purpose, joy, and confidence. What comes to mind when you hear the word failure? For most of us, it's a gut punch. It feels heavy, maybe embarrassing, final. But today I want us to flip the script. It's not failure that stops most people. It's the fear of failure. What if the failure you're trying to avoid, is the exact thing that's meant to grow you, to stretch you and elevate you into your next season. I want to share with you that this past week was a little bittersweet. We, I had been working with, a group as a general partner for a fund, and over the past six months I was involved. Over the past year they had been working towards building this fund and it just wasn't working. And in this past week, we decided to take a break. To lay it aside, we, each of us had been working on some other different things, and it just felt like it was the right time. And when I think about that business that could have boomed, it didn't. And the thought of failure has come into my mind quite a bit this past week, and so I've been thinking about failure and what it really means. And I found a really cool framework to help refocus our view of failure and to use it as a growth exercise. And so we are going to roll through that today, and hopefully this helps you as you keep moving forward in your business. And things happen, things don't go the way that you want. You have a framework to evaluate it and see the lessons that you need to learn from it and how to move forward from it. So today we're gonna talk about the failure framework and how to turn setbacks into stepping stones. So let's get started. We are gonna break down each letter. We're gonna create an acronym. I did not make this up. I found it online, uh, but I thought it was really good and it's a great exercise to help us use, our setbacks really as setups or stepping stones to move us forward. And when we look at them that way, it's going to help us move to the next step. So we're gonna break it down. Letter by letter F, failure. And this can be feedback as well, but failure is feedback. It's not final. So, when we define failure, we can, we can say it's unmet expectations. We can say it's an outcome that didn't go as planned, but it doesn't have to be something final. And I think a lot of us, when we initially think of failing, we feel like it's the end. It's over. We have to figure out something brand new. But a lot of times it may end up being a pivot and it may be a refocus. So it's not that it's the end of everything, it's just things didn't go the way we expected and we need to shift. The other thing we want to remember is failure is normal. We all fail in a lot of different ways, in a lot of different things. Everyone fails. Edison failed 10,000 times before he created the light bulb. But what we do with that failure is what's important. He didn't stop, right? He used that failure as feedback and kept moving forward, kept iterating, kept trying until he had success. You're not alone. And failure doesn't mean you're unqualified. It actually means you're courageous and you're brave. If you're failing, it means you're trying. It means you're in the arena. Brene Brown has a book, Daring Greatly, and it comes from this quote from Theodore Roosevelt. And I want to read this quote to you because I think it's really powerful, It's not the critic who counts, not the man who points out how the strong man stumbles or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood who strives valiantly. Who errs, who comes up short again and again because there is no effort without erring and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at best knows in the end the triumph of high achievement and who at worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat. And I like this quote because the only, if you're in the arena, if you're the one trying, striving, erring, succeeding, failing, moving forward, you're the one who gets the reward, not the people sitting in the stand stands saying, oh, you could have done better or you should have done, because they're, they're not doing anything back there. And so being in the arena. Getting your hands dirty, putting in the work that is success regardless of the outcome. I love that quote because it really helps us remember to keep striving forward. So that's the f in failure. The A in failure, acknowledge we can acknowledge what happened. You can't heal what you can't or don't or won't admit. Acknowledging is about owning what happened without shame or without blame. You can ask yourself questions, what was my part? What was the environment? What did I ignore? What could I have done better? What could I have changed to make this work more? And I think about when I went into the TC world. I tried my hand at TC for a couple of months, and could I do it? Yes. Did I want to do it? Not really. Being able to take a moment and stepping back and ask myself. What went well, what didn't, what do I like? What don't I like? How does this align with what I am wanting to do, what I'm good at, where my strengths are? And just acknowledging that this was not a good choice for me. I thought I could do it. I could I? Yes. Could I do it well and with ease, debatable, because it just isn't my skillset. It isn't my strong suit. And that's okay. And actually. Knowing that helps me. I've, I've started to eliminate these things that I'm like, well, I could do that. Okay, I've tried. It doesn't work for me. I don't, I don't like it, or I don't want to do it. Or maybe I'm not the best person for it. So having these experiences and these things that look like failures actually is such valuable information, and it's not about judgment, it's really about clarity, right? For me, knowing what I want to do and what I don't want to do are super important to move me forward. Moving on to the I in failure. This I stands for, investigate. Investigate the Root Cause. Now sometimes this is about going deeper. Was it the strategy that was wrong? So when we think about our fund, what, why didn't it work? Was it the strategy? Was it the timing? Was it the market? Was it the asset class that we were going for? Was it the lack of support? Was it lack of experience? Was it limiting beliefs in our team, what was it? And being able to think about those, again, not critically and pointing fingers at anyone, but just observing to get an idea. Because if we start seeing patterns emerge, then we can recognize what needs to shift. I think about this, from the medical side of things. I work in interventional pain management. We do injections for pain, mostly back pain. So people come in their MRI may have multiple different pain generators, things that could cause pain, but we may not know exactly which one is the main cause or which ones are the things that are contributing to the pain. So they may have a bulging disc, they may have, narrowing where the nerves come out on the side called neuroforaminal narrowing. They may have arthritis in the back. And so we may target one thing thinking this is the, this is what's causing their pain, and if it doesn't work, it's a, it's a good thing, not because. They're still in pain, but because we know, okay, we've tried that, that isn't where their pain is actually coming from, now we need to look, go back to the MRI ask them again where their pain is, where it radiates, and figure out another strategy. So it's just, it's data. It's it's, and sometimes you have to. Do a process of elimination to say, okay, well this injection took care of the pain coming down your legs, but you still have this midline back pain. Maybe we need to do this. So as you investigate, when things don't go as planned, we're not gonna even call them failures anymore. We're just gonna say, when things don't go as planned, when we start investigating and diving deeper and asking questions, think, what is this trying to teach me? What am I learning from this? What am I gaining? And if we do this regularly, as we try things in our business that don't work, and we use this framework. We're gonna start seeing those patterns and things that we wouldn't see if we just switched to a different strategy without actually evaluating it. Let's go to the L in failure. Learn. So we are going to learn the lessons. Every experience brings wisdom. I didn't lose. I learned. That's the whole point. This is a growth mindset. What do I know now, that I didn't know before? When we start pulling out those lessons that we've gleaned from these setbacks and these so-called failures, we have gained so much more. We have won along the way because we're gaining those lessons. So I want you to think in this section when you're starting to think about the lessons that you learned, I also want you to think about what strength did this reveal? What skill did this sharpen? What weakness did this expose? I want you to start digging deeper. It's all about asking these questions, and you may have to look at it a couple of times. It may not come when you first start looking at it, and it's not uncommon. Right when hindsight's 2020, the reason for that is when you look back, you can see the whole picture. When you're moving forward, you only have what's in front of you. Sometimes failure does reveal truly how resourceful you really are. We're gonna move on to the"U" understand. So understanding the bigger picture, again, this is about zooming out. How might this experience serve your larger story? Sometimes failure is redirection. Some people I've heard it said, I heard it first through Jamie Kern Lima, and she said, rejection is God's protection. Sometimes those closed doors protect us. When I, so the job that I have now, I applied for it a year prior to getting it, and I applied for it. It was an open position. I applied for it, it was gonna be great. Went through the interview process. We were all on board. And then they decided because of some financial issues, not to hire for that position and I was frustrated at first But looking back, had I had that job, I would not have been able to go help my mom and stepdad when my stepdad got sick. And then when he passed away, I wouldn't have been able to go for two weeks and just spend time with my mom and my brother. I wouldn't have been able to do that. And so sometimes those closed doors are for big reasons that you don't know until down the road and. Those are also good things to keep your eye out for. You may not know right away, but later on down the road you'll be able to look back and be like, Ooh, I am so glad that that happened. When you, when you see the why. You know when you can look back and that 2020 vision is there, even those hard things start to make sense and you start to be more and more grateful for the direction that your life has taken. Okay, we're down to the R in failure. We've got two more. So R is realign in who you're becoming. If you take what you've learned from this failure and adjust your course, this may help you recommit to your vision, with greater wisdom. Maybe you say, I was going in this direction and I still want to go towards that. But I just need to shift a little bit, or maybe you think I was going this way and I realized, like for me, when I was going down the TC path, I was like, oh, this is not the road for me. I need to be over here. Now this realignment could be a mindset shift. It could be putting new systems in place. It could be putting up boundaries. It could be really managing your calendar, knowing where you're spending your time and energy, and making sure you're using it to the fullest advantage, that realignment is not giving up. It is getting back on track with better tools because you now you have better insight for where you wanna be. And then finally, E in failure is evolve. This one's my favorite because when you started this journey, you were one person. Where you got to, when things didn't go as planned. You are not the same person that you were when you first started. You are stronger, you are smarter, you're more aware, you have a better insight into where you're going. And when you acknowledge that growth, you are evolving. And that's the point, right? The goal isn't to the perfection and it isn't necessarily the destination. It really is the journey. It's the process and the progress. It's about becoming who you're meant to be, that elevated self, that next level self. Okay. Let's recap a little bit because that was a lot to go through. So the F and failure is failure and failure is feedback. A acknowledge. We're gonna acknowledge what happened. I is investigate. We we're going to investigate the root causes. L we're gonna learn. We are gonna learn those lessons. U understand. We're gonna understand the bigger picture. R is realign. We are gonna realign with who we are becoming. And E is evolve. You've heard the framework, now it's time to put this into practice. So this can be a powerful mindset reset ritual that I invite you to use when you have a setback, when you have a failure, when you have things that don't go as planned. Use this to reflect and to apply to whatever's going on in your world. A challenge you can do this week. Maybe it's been a while since you've had a setback. Maybe you've gone through something recently and you just moved on. I want you to take a moment this week and run through this and think about an area where you feel like you have failed, and I want you to walk through this failure framework. What happened? What did you learn? Where can you realign and who are you becoming because of this process? And the last thing I want you to do is go back and look through the things that you've written down, and I want you to write down three empowering truths to replace the fear of failure. When you realize how strong you are, the things that you've gone through and what you've learned from it, you realize you are so much stronger. Than you think. You have got so much resiliency built into you, you just need to tap into it and find it. So write down three empowering truths, things that you can pull out when you're going through it, that will help encourage you to keep going and to use that resourcefulness and that resiliency. And finally. Just remember, failure isn't the end of the story. It's part of how you are writing a more powerful story for you. It's better to pause and pivot and move forward in the right direction than it is to keep running full steam in the wrong one. So it's okay to take that time to pause, to reflect and use that failure as feedback framework to make the adjustments that you need. Thank you for tuning in today. Please subscribe to the podcast so you know when the new episodes are coming out, and share this episode with someone who may need this encouragement right now. If you know someone who's going through it and needs a little encouragement, send this one along. All right, everyone, until next time, have a great one.