Failure Gives The Gift Of Wisdom-Don’t Stop It Now!
About a dozen years ago, our KIT contributor Tim Bryce, consultant, businessman, blogger from Florida wrote an article on failure in the era of "Too Big To Fail". That concept seemed a little troublesome then and it looks to be coming back into play again as the Democrats and President Joe Biden are proposing an unimaginable $3.5Trillion stimulus bill.
The massive spending wish list includes a slew of green proposals and sacrifices, new entitlements, and a redistribution of wealth. Tim says when he talks about the possibility of try/fail, he is describing an inherent part of capitalism of which, in his words, "is the “natural” way of encouraging change in our society."
I'm in the process of helping my daughter Katelyn (the Gator) understand that failing is part of life and it can teach us many important lessons if we pay attention. She's 12 and playing volleyball for the first time and I am trying to teach her that occasional failure doesn't mean she is a failure, not as long as she keeps learning and trying her best...today's failure just means she's in the game and risking.
Here's Tim, "As a youngster, one of the things I learned early on was that winning and losing was a natural part of any game I played....Somebody wins, somebody loses. Nobody likes to lose but I have more respect for the person who valiantly tried and lost, as opposed to the person who won by cutthroat tactics or cheating."
Losing once in a while helps fine-tune our evaluation skills. Losing teaches us to more accurately determine risk and reward. The nation's entrepreneurs and adventurers know "we cannot make progress if we are not allowed to fail....there is a certain element of risk, whereby they will either reap the rewards of success or taste the agony of defeat."
SO what about the idea of being "too big to fail"? As Tim writes, "There are people today who want to eliminate our right to fail, that nobody should experience the pain or embarrassment of defeat. This is why I have a problem with government bailout and stimulus plans. They will only be a temporary fix, and the companies will not make the severe and necessary changes to survive in the years ahead."
SO now Democrats want to puff up Green New Deal projects and give more "build-back-better" handouts and we are not asking that failing behaviors be evaluated and changed. If it all passes, is it just a matter of time before we are back here again? Read Tim's Column HERE and see what you think.
Tim Bryce is an author, freelance writer, and the Managing Director of M&JB Investment Company (M&JB) of Palm Harbor, Florida and has over 40 years of experience in the management consulting field. He can be reached at email@example.com For Tim’s columns, see: timbryce.com