Embracing Failure: My 7 Significant Losses Over the Past Year
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Chapter 1: The Reality of Failure
In a world overflowing with success stories, it can be refreshing to acknowledge the moments that didn’t go as planned. The societal pressure to only showcase achievements can be overwhelming. Many content creators present an image of flawless success, making it hard for others to see the real journey. I believe it’s time to change the narrative around failure. Let me share my most significant setbacks from the last year.
Losing a Substantial Amount of Money
Over the past year, I made some regrettable choices in cryptocurrency investments. I invested too heavily in specific projects, neglecting diversification and security. When market volatility struck, it felt like I was spiraling, akin to an addict chasing a high. The thrill of trading clouded my judgment. Instead of adhering to the reliable path with Bitcoin and Ethereum, I ventured into riskier territories and faced severe consequences. Luckily, my foundational investments remained safe.
Dopamine Dependency
Twitter offers vast opportunities for creators, but I found myself trapped in a cycle of constant engagement. My obsession with refreshing my stats and notifications led to a significant drop in my dopamine levels. To regain control, I removed Twitter from my phone for a detox. Email also became overwhelming; I failed to restrict my checking times, which diminished the satisfaction I typically derive from a productive day.
Burnout from Overcommitment
A few months ago, burnout hit me hard. I had shared my struggles, but it was easy to blur the line between hard work and overexertion. Late nights and constant pressure led to a drastic drop in my energy. Eventually, I realized that taking breaks could spark greater creativity. In a culture that glorifies hustle, it’s crucial to recognize when to step back.
Strained Relationships with Mentors
Mentorship can be invaluable, but boundaries are necessary. One mentor continuously requested favors, leading to an overwhelming inbox. When I took a step back, their reaction was negative, causing a rift in our relationship. This experience taught me that while advice is beneficial, it shouldn’t come with excessive demands.
Handling Negative Criticism Poorly
Building an audience online invites criticism, and I encountered my share. Some critics targeted me in headlines, and I didn’t manage the situation effectively. Instead of addressing the negativity, I allowed it to escalate, realizing too late that I should have viewed some feedback as constructive. In hindsight, blocking persistent critics would have been a better approach.
Trying to Do It All Alone
I’ve come to understand that not every task has to be tackled solo. My reluctance to delegate stems from my passion for quality, but this can lead to inefficiency. Next year, I aim to embrace collaboration and outsourcing to avoid burnout and maximize productivity.
Ego Leading to Poor Decisions
While a healthy ego can be beneficial, I’ve let mine get the best of me. My disdain for certain real estate agents led me to engage in unproductive arguments, attempting to share insights with those unwilling to listen. This behavior, fueled by ego, was counterproductive and only served to alienate others.
Closing Thoughts
Acknowledging our losses can be the first step toward future growth. I encourage you to reflect on your setbacks and consider sharing them for accountability. If you feel comfortable, share your experiences in the comments. Knowing we’re not alone in our struggles can be empowering. Join my email list, which has over 50,000 subscribers, for more insights and support.
Chapter 2: Lessons from My Losses
The first video, "My Worst Stock Pick Ever (Biggest Loss)", provides a personal account of significant investment mistakes and the valuable lessons learned from them.
The second video, "Exposing My Biggest Loss as a Full-Time Day Trader", reveals candid insights into the challenges faced while trading and how they shaped my approach to investing.