When I raised my first major round of angel investment I was walking down the street after signing the documents at the law firm and I wondered, “Am I a good investment? Would I invest in me?”
I realised that, yes, I think I’m a good investment. Because I know that, no matter what happens, I will refuse to fail.
I also realised that I’m probably a much better person to invest in than I am to be! I know that I will fight with every last breath to ensure my company works.
I hate the “fail fast” mantra that seems to be trendy for start-ups these days. Learn fast, yes. But when other people are investing, you must address challenges head on. When things don’t work, you must figure out a way to make them work.
If I’d adopted a fail-fast attitude, Posse would have failed at least five times. The reason we’re still here is that I fear failing more than I fear death! When we succeed, it will be due to this refusal to fail.
I just finished reading Tony Blair’s autobiography. He spoke about how envious he is of people who can take risks with no fear of failure.
I think these people are a myth: all responsible people fear failure. It’s just that for some people, like me, there’s one thing we fear more than failure.
Getting old and never having tried is the one thing I fear more than failure.
Here’s how I prioritise fears. Failure is scary. Missing out on the opportunity is far scarier. If I never tried this, then I’d forever live with the regret of not knowing how it would go.
Jeff Bezos describes this idea eloquently when he talks about deciding to throw in his high-paying job to start Amazon.
I’ve recently been asked to speak at a couple of events around Sydney about leadership. I never considered myself a leader – I was always just someone with ideas who made them happen.
During the talks, I was asked to give my leadership tips. My number one leadership tip has been, “Prioritize your fears”.
If you’re mulling over starting a company or a not-for-profit, or if you’re toying with the idea of applying to speak at TED, then maybe you do fear failing more than you fear missing out. In that case, you’ll keep thinking about your idea forever and never do it. Fear will stop you.
But, for me, the thought of knowing that I never tried is much scarier.
Rebekah Campbell is speaking more about failure at Failcon in Sydney on June 7. Posse’s new pre-launch page is up! Sign-up to be among the first to experience the evolution.
