How I Deal with Failure

In the last six weeks, I was focused on two numbers to measure the success of my blog. These are the weekly growth rates of my Medium following and the number of my email newsletter subscribers.

My weekly goal for both figures is 10%. That goal is at the ambitious side and I have a difficult time achieving it every week.

So far, my average was 7%. Not bad, but not being able to succeed my goal every week frustrates me a little. That’s why I want to look at other sides of my efforts than the weekly goals.

The Big Picture vs. Short Term Challenges

Online business expert Gary Vaynerchuk recommends to focus on “the clouds and dirt” and to avoid everything in between. The clouds is the long term vision. The dirt is the tasks and challenges in front of you.

In my case, the dirt is my weekly goals and how I want to achieve them. I’ve been focused on the dirt for the last six weeks. Today, I want to look at the clouds, the vision, the big picture of my efforts.

The Karmic Management Model

I’ll use the karmic management model of Michael Roach to analyze my blog. I discussed this model in detail in my post A Buddhist Monk’s Take on Business.

The Ideal and Less than Ideal Business

I make a distinction between ideal and less than ideal businesses. Ideal businesses add value to humanity. Less than ideal businesses extract value from the humanity.

Ideal businesses make a positive difference in the lives of other people. They provide value. That value has a financial equivalent. Ideal businesses receive a fraction of that value.

Less than ideal businesses extract value from the humanity. They do that by exploiting the weaknesses of people.

Most of us have their irrationalities. Some of those irrationalities are predictable. Less than ideal businesses build their business on exploiting those predictable irrationalities.

The World Is Not Black and White

Obviously, we can’t make a black and white distinction between ideal and less than ideal businesses. As I explained in my post the Fallacy of Extremism, that would be a childish outlook on life. Most businesses are somewhere between both polarities.

For example, gambling businesses provide some value by entertaining their customers. Educational businesses have to use some marketing techniques to convince their prospects to pay for their products and services.

In either case, I want to be closer to the ideal end of the spectrum.

Four Stakeholders in a Business

The karmic management model takes into account four parties to measure the potential of a business.

  1. Customers
  2. Employees
  3. Suppliers
  4. Humanity at large

I want to add a fifth party to this model: myself.

Customers

I plan to build an information marketing business around my blog. So far, I have been writing mainly about personal development and marketing.

Personal Development

I consumed a lot of personal development products and services. Those products and services made significant differences in my life. Some of those products and services were paid. There was an exchange of value both ways.

In some cases, I paid more than what the product or service was worth for. In some cases, I received great value for free. Some free YouTube channels and videos made significant, tangible, positive changes in my life.

In either case, I’m more than satisfied as a paying customer of the personal development industry. My own experience is a validation of the personal development business.

Marketing

In the past, I developed several products. Those products benefited their users, but I wasn’t able to commercialize them. Marketing and sales were the missing link between those products and their prospective users.

I’m not alone. A lot of gifted people have a difficult time building a business around their skills. They have a difficult time building products and services using their skills or commercializing the products and services they offer.

I want to create content that helps people build and commercialize products and services around their skills. But first, I have to figure that out myself. I work on it and I document everything that I learn on my journey.

I already receive the feedback that the lessons I share resonate with people. If you want to receive the latest lessons I discover on my journey, sign up to my weekly email newsletter.

Bottom line, I believe that there is value for my prospective customers in my information marketing business, both in personal development and marketing segments.

Employees

I don’t have any employees at the moment. There’s only one person who helps me with household once a week. I’m grateful for their services, because they save me a complete day every week.

As I build a business around my blog, I could hire freelancers such as virtual assistants, programmers, and writers.

Suppliers

My business would benefit several suppliers. I already pay for hardware, software, internet connection, and for some tools, such as Evernote and Google Drive.

I review the tools that I use in my blog posts. I believe that is fair value provided to my suppliers.

Humanity

I serve humanity by providing as much value as I can in the ideal side of business.

Myself

I enjoy blogging, writing, developing products and services on personal development and marketing.

Conclusion

Sometimes, we lose the big picture of our businesses by being too focused on day to day details. That was the case with my weekly goals.

Today, I wrote down my business vision using the karmic management principles. Now, I can clearly see the long term benefits of my business to its prospective customers, suppliers, employees, humanity at large, and myself.

All of that helps me put things in perspective and not get frustrated when I miss a weekly goal or two.

Burak Bilgin
Software developer with a Ph.D. and 15 years of experience. I write daily on personal development and life lessons. Sign up to my email newsletter to receive a weekly overview of my latest content on personal development and life lessons.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.