Failing is part of success. In some ways, all we do is failing our ways towards the success. Knowing this makes it almost nice to fail. It has to be done.
The good thing is this. Failure doesn’t have to be very big. I’ll give you an example about the house I sold two months ago.
Two years ago I had an offer of 870 000 SEK. That would have made me about 220 000 SEK in profits. Sadly, there were some issues that I didn’t feel like dealing with so I decided to pull out and keep the place rented instead.
The last two years I had to get a new roof and install a new septic system. The total cost was 160 000. I thought this was all going to increase the value more than the costs, but turned out that it didn’t. When I sold the house two months ago I only got 950 000.
I would have made 220 000 SEK in profits. I then invested another 160 000 but only got 70 000 SEK more for the house. That means my poor decision lost me 90 000 SEK. Pretty bad!
The good thing is that I picked up rent for two years. The profits from rent was 120 000 SEK so I suppose you could say I was saved by cash flow :)
I guess what I want to say is that you tend to fail all the time throughout life. Just know that it won’t hurt you. You can afford a lot of failing and still come out ahead!