VIEW SPEECH SUMMARY
- Failure defined as lack of success in person, business, or situation.
- Can occur due to unmet expectations or progress, leading to closure or stopping.
Matthew’s Failure Stories and Lessons
1. Early Investment Failure
- Matthew invested young but lost money due to uninformed decisions and inflation.
- Key Lessons:
- Read policies thoroughly.
- Ask questions and stay informed, especially on contracts.
- Action: Set deadlines for decisions; avoid letting past failures anchor future decisions.
2. Student Loan Opportunity Missed
- Matthew declined student loan; later informed he qualified for cancellation but had lost opportunity.
- Key Lessons:
- Seek others’ opinions.
- Make informed decisions based on facts.
- Action: Commit to leveraging future low-risk opportunities.
3. Job Change Disappointment
- Switched jobs for better salary but lost autonomy and engagement.
- Key Lessons:
- Double-check information about new employers.
- Keep a list of "red flags" and continuously seek better opportunities.
- Action: Prepare well-researched questions before employment; keep options open.
4. Entrepreneurial Setback
- Started business, found customers, but was burdened by poor management and contract termination.
- Key Lessons:
- Diversify income streams early.
- Implement backup plans instead of just planning.
- Actions:
- Accept changes fully.
- Cultivate "flux mindset" (adaptability).
- Keep emergency funds (e.g., six months expenses).
General Advice on Failure
- Fail often and learn fast; personal failures have shaped speaker’s success.
- Track important "magic numbers":
- Time to identify failure (~30 days).
- Time to work on recovery (~69 days).
Key Takeaways / Actionable Items
- Use own money cautiously but learning can be faster than with others’ money.
- Listen to advice but critically evaluate arguments and develop personal decision-making processes.
- Failure should not mean defeat but is an opportunity for growth and learning.
- Actively prepare for failure by diversifying income, building safety nets, and maintaining flexibility.
- Keep experimenting and adapting based on lessons learned.
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Actionable Tasks:
- Thoroughly read all policies and contracts before committing.
- Ask questions and seek multiple perspectives to inform decisions.
- Set deadlines to avoid stagnation caused by past failures.
- Maintain a spreadsheet or template for evaluating job opportunities with identified red flags.
- Begin diversifying income sources early and implement at least one side project.
- Establish an emergency fund covering six months of expenses.
- Adopt mindset focused on adaptability and continuous learning.
- Track personal timelines for recognizing and addressing failures quickly.
- Develop personal frameworks for decision-making based on facts and advice.
How to fall to rise fast. Stories of failures and solutions.
16:35 - 16:55, 27th of May (Tuesday) 2025 / GROWTH STAGE
The world often creates an image of success as the most important and valuable narrative. We see stories of winners, triumphs of startups, and the spectacular growth of multi-million-dollar businesses, which often inspire us. However, they rarely reveal the full picture of success and show the darker side. There is an increasing conversation about the importance of transparency and learning from mistakes, yet still, very few companies are willing to openly admit their failures. Fear of judgment, loss of reputation, or weakening market position makes failures a taboo subject.
Meanwhile, failure is an inseparable part of growth. Failures affect everyone — individuals, micro-businesses, startups, etc. Every entrepreneur faces challenges sooner or later: wrong decisions, failed products, poorly chosen teams, or flawed financial strategies. The key question is: how to fall in a way that allows you to rise quickly?
In this lecture, I will share my 20-year journey through failures, presenting specific examples of mistakes I made and the solutions that helped me and many other entrepreneurs "land softly" and effectively get back in the game.
