You Should Keep A Failure Scoreboard
The Amplified Impact Podcast
November 7th, 2023
I’ve got a fresh idea for you…the Failure Scoreboard.
Here’s the scoop: the faster you fail and learn, the quicker you’ll hit success.
Instead of waiting to weigh your achievements, track lead indicators daily…actions within your control.
Then, at the end of each week, log what didn’t work. Create a Failure Scoreboard.
Every failure is a step toward winning.
Try it out and let’s journey towards success.
TWEETABLE QUOTE:
“The more we fail and the quicker we learn from it and then try again, the more likely success becomes.”
– Anthony Vicino
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Episode Transcript:
Anthony Vicino:
And welcome back all you beautiful people. I want to share an idea that I was thinking about on this weekend. And I don’t think, I don’t think I’ve ever seen anybody else talking about it. And it’s what I’m dubbing the failure scoreboard. So here’s how it works. I believe that your rate of iterative failure is the best lead indicator of success. Let me repeat that. Your rate of iterative failure is the best indicator of success.
Anthony Vicino:
And what that means is your rate of iterative failure is how quickly you fail and then pivot. Pivot fail. Pivot, fail. Learn pivot, fail. Learn pivot. The faster that you can go through that cycle, the faster you’re inevitably going to get to success. Because failure and success are two sides of the same coin. I’ve talked about this before as like a magical coin, where in the beginning when you flip it, it is weighted so that 99.99% of the time it lands on the failure side.
Anthony Vicino:
But with each successive flip and attempt of the coin toss, your probability of success improves by 1%. So it’s going to take a lot of flips, but the more you flip, the more likely success becomes. And because you have an infinite number of at bats, you should just be sitting there flipping that thing maniacally. And then on a long enough time frame, success becomes inevitable. Okay, so in a very real way, we can use our rate of iterative failure as a lead measure or a lead indicator of success. And so the difference between a lead indicator and a lag indicator or a lag measure is that often when we set goals, we say things like, I want to lose 15 pounds by November 1. The problem with that goal is that you only know whether or not you failed or succeeded on November 1 when you weigh yourself and then it’s too late to do anything about it because it’s looking back. It’s a lag measure, we’re looking back.
Anthony Vicino:
More impactful would be to set lead indicator goals. Things that if we do this, it will lead to the larger goal. So if your goal is to lose 15 pounds by November 1, then your lead indicator would be every day, I’m only going to eat 1500 calories and I’m going to work out for 45 minutes. So if you do that every single day, that’s your lead indicator. You believe, that’s your hypothesis. If you do this, it will lead to that. That’s the thing that’s within your control. So you can measure it every single day and say, did I do it? Did I succeed or did I fail? And that is what really sets you up for success.
Anthony Vicino:
And so if we use our rate of iterative failure as a lead indicator to say, the more we fail and the quicker we learn from it and then try again that rate, the more we do that, then the more likely success becomes. And this leads to the idea of the failure scoreboard, which is just to say, at the end of each week, create a spreadsheet or a document, a journal, where you log all of your losses from the previous week, log them all. Like, what did you try? What was your hypothesis? Where did it fall short? And it might not be an outright failure, but it might not have been an outright success either. And it could be across all different domains. Depends on what’s important to you to measure. If it could know if you want to build a social media presence, it could be. My goal this week was to post to LinkedIn, Twitter and Instagram every single day. So that would have been 21 pieces of content across seven different days.
Anthony Vicino:
And then at the end of the week, you look back and you’re like, I only posted 15 times. So that was your failure. What happened? Review. Why did you fail? Did you not set the time? Did you not prioritize it? Did you not have the content ideas? What caused you to not follow through? Or maybe the goal was I made this post and I thought it was going to go viral and it turned out to be a dud. So it failed. What can I learn from it? Why did it fail? Did I not tell a good enough story? Did I post it at the wrong time? Did I include a link? Did I not follow best posting principles on that platform? Right. The more that you can track your failures, and instead of looking at those as being like an indicator that you did something wrong, the more you can turn that to the other side of the coin and say, hey, with each one of those failures, I’m getting that much closer to success, but only if I track that and I learn from it. And so that’s the failure scoreboard.
Anthony Vicino:
I think it’s a really interesting little idea, a great little journaling prompt. Sit down at the end of each week and just reflect, what did I try this week that worked and what didn’t work, and take each one of those as a data point on your path to success and then just keep failing forward. That’s the goal. We fail our way to success. So that is the failure scoreboard. I encourage you to incorporate it. It’s a new concept I just dreamt up and I’m going to start using it. I used it last week for the first time, and I don’t know why it took me this long to stumble upon it, but it’s a great little idea, so I’m excited about it.
Anthony Vicino:
I hope you are, too. And as always, thank you for being here. I’ll catch you guys back around these parts tomorrow, but until then, stay hyper focused, my friends.
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