Why Most People Never Bounce Back from Failure

The Surprising Difference Between Millionaires and the Middle Class

I’m currently running my fourth business. The first one failed miserably. So did the second one. And the third. So, why then is this one so successful? It’s, in part, because I knew how to come back…and what to do next.

Why Most People Never Bounce Back from Failure

The Problem with Failure

The problem with failure is that most people handle it wrong. They respond in the wrong way and then change course. Rather than trying the same thing again, they think they have to try something new.

That makes sense, of course. When you fall flat on your face, instinct tells us to avoid whatever it was that led to that pain. But we should do the exact opposite. We should try it again.

Studies show us that is exactly what successful people do. One study, done by Lewis Schiff, author of the book Business Brilliant, shows that self-made millionaires have at least three significant business failures in their lives. Sounds familiar to me.