What failing in business taught me②




My first business didn't work out well.

But I'm actually glad I tried, because my mindset changed in a positive way.

It actually did take me a while for me to recover mentally and financially.

But 2 years in and I look back that it's not a big deal to make mistakes.

It actually helps you to reflect on it, and gives you hints on how you could improve.

The more mistakes you make earlier in life the better

Before starting the business, I always seemed to have the pressure that I have to succeed. Or to be right and correct all the time at least.

But actually it's the opposite. I need to make a lot of mistakes, and learn to get back up as fast as possible for the next challenge.

I realised that when my mother kept repeating that "I failed" every time we talked on the phone.

My mom sounded like its the end of the world while I was thinking it might be the start of something new.

The most important thing is to not repeat the same mistakes.

In order for you to do that, you actually have to make the first mistake.

Whats more important is how can I prevent it from happening again.

My answer to my mom has been,

"Whats wrong with failing? Im engaged with the process of starting over."

I read from a book that you fail 3 times in business and you will have a good chance of succeeding as you learn.

What I am working on not to fail again

Start small. Forget about succeeding quickly.

Take the steps it takes for the long journey.

No hiring people before I generate enough money to do so. In fact I dont think I will choose a business that needs hiring.

Treasure good long term habits.

I started to invest 30,000JPY/month for my retirement or backup money and have done it for almost a year.

It went minus on August, but went back up quickly and Im up about 50,000JPY, totalling 415,000JPY.

It's really nothing much but if I could stick with this habit for a year, then I could do ot for another year. Then 2 more years, then 10, 20.

But it all started from me deciding to put 30,000JPY a month and sticking to it.

I make mistakes along the way

I started investing in various investments, but I simplified it to just gold and All Country World Index.

Just recently I stopped investing on US Bonds when I read a good financial book.

I tweet the results on X every day my feelings (in Japanese though) I have of the ups and downs of the investment and I learn every day.

Good Habits lead to another

I learned that one good habit leads to another. Bad habits also tend to lead to another.

And it is a compound of that.

I actually remember when my compound of the good habits started.

Bad habits piled up during Covid and my health was broken, so I let myself sleep the rest of the day if I complete 1 HIIT exercize on Youtube.

Continuing this actually led to a better habit, then another, then another.

And it's been keeping the good habits while trying to get rid of the bad ones by reflecting every once in awhile.

What are you going to do?

So if your life is rocking then continue what you are doing, but if its not, then what is a simple but good habit you will start today?

Share it with me, if you don't mind:)

Thanks for reading:)

Thanks for reading the content👋

In the blog I will share things I learned especially about finance and life advice. 

Japanese are relatively good savers when it comes to money, and I've been realizing it comes from good habits and mindsets that anyone can learn.

So, over time I'd like to share what I learned, and hope to learn from you, too.

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