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Okay to fail?

Discussion in 'BlackHat Lounge' started by strykerff, Apr 7, 2015.

  1. strykerff

    strykerff Newbie

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    Hey everyone,

    I started a project about a few months ago and have made some moderate progress. Before I started, I created a set of short and long term goals. I've achieved many of the short term goals and am working towards the long term. However, as I transition into the next phase of my project, I'm starting to realize that the whole project wasn't a good idea from the start. Here's why:

    • This phase of my project is going to take either a sizable investment of money or and even greater investment of time. I don't really have the money and I'm uncomfortable investing what little I have when I am unsure of the returns. I'm not scared to invest, but I feel like there's too much risk at this point. I could do it myself, but it would take months and well over 500 hours.
    • There is significant competition. I have ideas to make my site better than the competition, but that runs under the assumption that the project will turn out perfectly. Likewise, the advantages my project would have over my competitors wouldn't be that significant.
    • I don't 100% trust myself. I've been working hard to not be a quitter but it's a struggle for me. I would hate to be balls deep in a project only to let it go.

    So my question is, when do you guys determine that it's okay to give up? I'm trying to think as rationally as possible. I don't want my emotions/fears to get in the way of my success. That being said, I also don't want my 'determination not to fail' to blind me into doing something that wouldn't be successful at all. You can spend years trying to teach a squirrel to fly but it just isn't going to work. My time could be spent elsewhere.

    Anyways, what are your thoughts? Have you had any failures that you've had to accept and move on, or is it better to have a determination to make things work no matter what?
     
  2. Visit

    Visit Senior Member

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  3. Bestindabiz

    Bestindabiz Regular Member

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    Sure, as a matter of fact you should seek failure everyday so you can get to success quicker!
     
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  4. SEOking222

    SEOking222 Jr. VIP Jr. VIP

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    Loved your image mate :)
     
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  5. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

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    Don't think of it as failing; it may discourage you from any future attempts.
    [​IMG]

    If you find something that doesn't work, then think of what you did wrong and try again.
     
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    Last edited: Apr 7, 2015
  6. wizard04

    wizard04 Elite Member

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    You don't need to quit, you can put it on pause till you make enough money from other ventures you wanna try so you can put money into it to make it a success.

    I am guessing you are not one of those that wants to try everything and never give 100% to one method till the end. If you are then you need to stick with this till the end!
     
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  7. narkom

    narkom Registered Member

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    Failing at one point is not the end of the world. That being said, it is very okay to give up on your venture if you are absolutely sure that it will go nowhere. Like you've said, you don't want to gamble what little you have and that's completely understandable. I guess in this life, we have to draw the line between what should we gamble and what should we keep. If you have spare that you don't mind losing then go ahead and take the risk but if that's all the money you've got and you are not 60% sure that it will get good return, I suggest you take your efforts and enthusiasm somewhere.
     
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  8. kalios

    kalios Junior Member

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    Failing forward, that's the only way to succeed. You are not failing after all, but learning more ways to adjust your course until you finally find success.

    As for knowing when to quit, don't think of it that way.

    You can temporarily shelve the project for awhile until you get what you need to move forward.
     
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  9. King_James

    King_James Regular Member

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    Failure is a taboo in this world, but the best thing you can do, the best thing everyone can do in their life, it's to fail ASAP in as much as you can.

    You can't pick up a weight of 50 Ibs and do 16 reps just like that. First you need to do 1 rep. Then next time you do 2 reps and so on..

    Were those short reps a failure? No. They were the basic foundation of your success.
     
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  10. cottonwolf

    cottonwolf Regular Member

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    its pretty rational to stop a project if it turns out to be impossible
    yes, you can learn from failures too
    but you can learn from semi-failures if you see that the semi-failed project is not working
    alas, you can keep semifailed project a slap and return it to later
     
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  11. dannyslimited

    dannyslimited Registered Member

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    Never stop. I've lost money, hundreds on buying services, sites, articles. I've also lost count of the hours I've invested into this. It doesn't matter, do you know why? Because its a passion and no one is going to do it for you. I consider it never ending learning. You gotta find something, a method. Stick to it and never stop.
     
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  12. EverestOnline

    EverestOnline Junior Member

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    Only you can decide if you should stop or continue. Think long and hard about it, since it's your time and money on the line. I agree with what some of the others said. You can put the project on pause for a while, as you work for/with something else.

    Don't consider it a failure, since the things you learned from working on it will come in handy with other endeavors. It will just be an unfinished project you can go back to.
     
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  13. ChanzGrande

    ChanzGrande Elite Member

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    I know when it's time to give up on a project when the notion strikes me exactly as this in my mind:

    "It's time to give up on this project."

    If you don't know if it's time to give up, then it isn't time to give up.
     
  14. redbandit

    redbandit Power Member

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    OP if these replies don't motivate you, don't know what else will, got me pumped at the beginning of my day. You guys are gems. thank you!
     
  15. ok888

    ok888 Elite Member

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    There's so many positive comment in this thread I should take notes

    Every failure that occur will help in prove yourself
     
  16. Sombrero

    Sombrero Senior Member

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    I bought a blog for $1,000 thinking about making it better but I didn't like the niche after all so I failed. I sold the blog for $300, I lost $700. I'm okay because now I know that I must work doing something I really enjoy in order to succeed.
     
  17. laroussi2020

    laroussi2020 Newbie

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    U can always try again right ? :D