Double Your Failure Rate?!?

In the early days of IBM, one of its employees made a huge mistake that cost the company a whopping $600,000.  That’s still a good chunk of money today, but this happened at a time when that amount really meant something!

As expected, he gets called in for a meeting with the founder, Thomas Watson Sr., absolutely certain he’s about to be fired.

He shuffles into Watson’s office, dejected and disheartened, and starts apologizing … "I’m so sorry sir.  I tried my best, but I made a huge mistake.  Thank you for the opportunity … I’ll start packing up my things …"

"Packing up your things?!?” says Watson Sr.  “Why would you do that?  I’m not firing you … I just made a $600,000 investment in you!!!"

Isn’t that amazing?

Ever wonder how IBM became one of the largest and most well-known brands in the world?  Lots of reasons for sure, but a gigantic one was Thomas Watson’s insistence to go for greatness.

How?  By encouraging his team to DOUBLE THEIR FAILURE RATE!!

I remember a few years ago someone came up to me and said "You know … you’re so lucky.  Everything seems to come so easy for you."

He was talking about real estate investing.  Which really cracked me up.

Why?  Well, to get to the point where things seem to 'come so easy', here’s the path I had to go through:

2 Business Failures (and these are just the big glaring ones … there were others!)

2 Foreclosures

Bankruptcy

And the Big “D” … Divorce

Now you tell me, does that look like EASY STREET to you?

It’s not necessarily the path I prescribe, but there’s certainly tremendous value in having a ‘never say die’ mentality.  A person who never, ever gives up will always succeed.

Eventually.