First Face Ltd. believes that being a success in business rarely happens straight away. The firm has revealed what it takes to overcome failure and to truly become a success.
Entrepreneurship is rarely ever plain sailing; it is easy to fail, but that doesn’t necessarily spell disaster. In fact, failure can be one the most beneficial experiences for a newly-conceived business. Take Richard Branson – he was faced with one of his most valuable failures at an early age. Having started Student Magazine at the age of sixteen, he recalls being rejected by a major publishing house:
“While they wanted to focus on distribution methods and details, I began explaining my vision for a whole host of new Student enterprises, from magazines to travel companies to banks. They ran a mile. Thankfully, that failure gave me the opportunity to set about doing everything I could to build the businesses I believed in. Fast-forward half a century and Virgin spans even more sectors than I dreamed of as a teenager” – Richard Branson.
Making mistakes and experiencing setbacks is universal in any successful entrepreneur. Student Magazine’s early rejection was not to be Branson’s only setback. Even in the 1990s, when Virgin had risen to gargantuan heights in the business world, they still faced major failure in their ventures. Branson recalls the conception of Virgin Cola in 1994; the launch involved driving a tank through a wall of Coca-Cola cans in New York City. Yet the business failed to smash their sales directive to quite the same effect. Branson believes it was Virgin’s biggest mistake to date but even so, it had its benefits:
“It was a great learning experience for our team, and in taking on the role of plucky underdog, Virgin seemed to win over a lot of the American public, which certainly made things easier when we launched subsequent businesses there, including our airline.”
Beyond the company, the biggest positive to come from Virgin Cola was the launch of Innocent Drinks. Co-founder Richard Reed, a former employee at Virgin Cola, was inspired by the experience and started to sell smoothies as a result. First Face Ltd. Does not believe that failure is final; it may, in fact, be a learning curve for success. Those who learn from their failures and soldier through are more likely to become resilient, determined individuals – vital attributes for long-term success.
First Face Ltd is a marketing consultancy which aims to offer unique opportunities to developing marketing professionals. The firm runs daily workshops which focus on teaching the importance of ongoing education in business, upskilling and the importance of being qualified: “If you want what the average person doesn’t have, do more than the average person!” – Paul Sandhu, Managing Director (First Face Ltd.)
Failure is not final; neither is success – businesses and entrepreneurs should work to continuously improve, develop, learn and overcome challenges in order to be consistently successful.