In the world of entrepreneurship, failure is often seen as the enemy. But for those who’ve weathered the storm of starting and growing a business, failure is more than just a hurdle—it’s a teacher, a guide, and, ultimately, a stepping stone to success. Brandon Frazier, CEO of Mobile Clear Shield, a leading provider of high-quality paint protection films, knows this lesson all too well. Through his journey, he’s learned that embracing failures and setting up guardrails to avoid repeating them is critical to long-term entrepreneurial success.
Learning the Hard Way: The Importance of Early Lessons
When you’re building something from the ground up, every decision feels monumental, and the fear of making a mistake can be paralyzing. But as Frazier has discovered, it’s the mistakes that shape you into a better entrepreneur. “Learning crucial lessons early on is essential,” says Frazier. “It allows you to avoid costly setbacks in the future and equips you with the experience and knowledge needed to make informed decisions.”
Early lessons are particularly valuable because they lay the groundwork for flexibility. They teach you to navigate challenges with a level head, adapt to changing circumstances, and, perhaps most importantly, they instill in you the importance of continuous improvement.
“These lessons help shape you as a business owner by providing a strong foundation of skills, resilience, and strategic thinking,” Frazier explains. “Without them, long-term success would be much harder to achieve.”
Guardrails: Best Practices to Prevent Repeat Mistakes
One of the key takeaways from Frazier’s journey is the importance of setting up guardrails—strategic measures to ensure that past mistakes aren’t repeated. These practices not only help mitigate risks but also pave the way for smoother operations and better decision-making.
First, Frazier emphasizes the importance of regular market research. “Staying updated on industry trends and conducting thorough market research is non-negotiable,” he says. “This allows you to anticipate changes, understand your competition, and make informed decisions that align with the current market landscape.”
Second, he highlights the value of feedback and performance evaluations. “You need a system in place to assess the effectiveness of your strategies,” Frazier advises. “Regular feedback and performance evaluations help identify areas for improvement and ensure that your business is constantly evolving.”
Finally, Frazier underscores the significance of building a strong network. “Surround yourself with mentors, advisors, and peers who can provide guidance and different perspectives on business challenges,” he suggests. “Their insights can be invaluable in helping you navigate difficult situations and avoid common pitfalls.”
Advice for Struggling Entrepreneurs
For entrepreneurs who find themselves hitting a wall after a crucial mistake, Frazier offers some straightforward advice: Don’t give up. “Take a step back and reflect on the mistake as a learning opportunity rather than a failure,” he says. “It’s important to acknowledge your emotions but don’t dwell on them. Instead, focus on identifying the root cause of the mistake and brainstorming potential solutions.”
He also encourages seeking support from a network of mentors or peers. “Gain perspective and guidance from those who’ve been through similar challenges,” he advises. “Remember, setbacks are a natural part of the entrepreneurial journey, and resilience and perseverance are key traits of successful founders.”
Embracing Failure as a Growth Opportunity
As Frazier and many other successful leaders have noted, failure is not something to be feared but something to be embraced. “If you aren’t failing, then you aren’t trying,” Frazier says. “Plan to fail, and your failures will turn into growth and future opportunities.”
By learning from failures and putting guardrails in place to avoid repeating them, entrepreneurs can build stronger, more resilient businesses. It’s not about avoiding mistakes altogether—because that’s impossible—but about ensuring that when you do make a mistake, it becomes a stepping stone rather than a stumbling block.
Ultimately, the entrepreneurial journey is as much about the lessons learned from failure as it is about the successes achieved. And those who embrace failure with open arms are the ones who ultimately come out on top.
