Miha Matlievski, How to Embrace Failure and Achieve True Success – InnovaBuzz 448
Miha Matlievski, The Fail Coach
In this episode, I’m really excited to have as my guest, Miha Matlievski, also known as the Fail Coach. Miha is a serial entrepreneur with 23 years experience, that has grown and scaled 9 companies over 7-9+ figures in different industries all around the world.
Miha has personally generated over $3 billion in sales and has been a part of many joint ventures and partnerships where he’s been able to generate $24 million in funding. His “Operation: Firehouse” teaches 7+ figure entrepreneurs how to go from working 60-70+ hours per week to managing their company with 4-6 hours per week.
In our discussion, Miha talked to me about:
- Embracing failure as feedback and learning from it
- Using an ideal role avatar
- Firehouse time vs firehose time
Tommy Breedlove in episode 437 introduced us to Miha.
Listen to the podcast to find out more.
Listen to the PodcastFailing is really nothing else but a growth opportunity. @Fail_Coach on #InnovaBuzz podcast Click To Tweet
Show Notes from this episode with Miha Matlievski, The Fail Coach
Key points and takeaways from this episode include:
- Servant leaders are leaders who are not just in it for themselves. They want to make an impact.
- Failing is really nothing else but a growth opportunity.
- Having a healthy relationship with failure is an amazing tool that will help you grow and achieve success much faster.
- What’s more important than failing is picking ourselves up and getting better.
- You’ve got to embrace failure because it’s mandatory that you will fail if you want to achieve big goals. Take it as it is and learn as you go. By having a healthy relationship with failure, you can speed up the process and achieve the success that you want.
- To establish a healthy relationship with failure, you have to become logical. Don’t just focus on the end result but logically understand the process, what went wrong in it, and immediately start seeing the lessons that were there.
- Mindfulness helps us realise what is happening in the moment. It brings ourselves back and grounds us from our emotional reactions.
- Reflecting on your day is a good practice. Figure out what lessons can you learn from each day and plan your action as to how you can implement those lessons tomorrow in order to do things better.
- Aim to be 1% or 2% better the next day.
- Mindfulness is simply being mindful. It is being present and being in the moment. It means being in the driver’s seat and not letting the autopilot get in the way.
- Switching to autopilot is not always a good thing especially when you are aiming for something new, because what got you here might not get you to where you want to be.
- We always have a choice and we can control how we respond to particular things. We have a lot more choice and control than we give ourselves credit for.
- Start looking at your business more holistically. Marketing, sales and delivery can get you to a certain point in a stable macro-economical environment, but the only way to achieve growth is by having good systems and processes in place that will allow you to scale.
- Lack of sales is often not seen at the early stages because a client’s journey takes some time from getting to know you, to liking, and trusting you. It’s important to have KPI’s in place to help monitor every point of your client’s journey.
- Relying on people is not the way to grow your business. You have to rely on a system.
- Be very clear on the roles of the people in the organisation. Create an ideal role avatar of the skills, personalities, and behaviours that are necessary for that role, and make sure that it matches your hiring process as well as the culture and values of the company.
- Be very clear on the ideal role avatar that you have for your employees, business partners, investors, and exit strategy. The more clarity you have, the more you can focus resources, and the more you can create momentum to get there faster.
- Business owners are the drivers of culture. If they’re not living their company’s values, then, nobody in the company will.
- Employees are like little children looking at their parents. As leaders, we are like a parent to our employees. Children look at their parents and pick up their behaviours. The same is true with our employees so it’s important that we lead by example.
- Start with the end in mind. Figure out why you want to scale, take action, and do everything with due diligence.
- Entrepreneurs are the only people who are servant leaders. We can change this world for the better, and the more servant leaders there are, the better this world will be.
The Buzz – Our Innovation Round
Here are Miha’s answers to the questions of our innovation round. Listen to the conversation to get the full scoop.
- #1 thing to be more innovative – Fail more. Failure drives innovation. Develop a healthy relationship with failure. Fail fast and fail forward.
- Best thing for new ideas – Spend a lot of time in the firehouse, not on the firehose. Strategize, plan, and execute.
- Favourite tool for innovation – Coaches and consultants (the leverage of trust)
- Keep project/client on track – Keep them accountable and help them to properly plan and see things from the outside. Support them through the implementation process.
- Differentiate – Talk to your ideal client avatars. Just be curious and listen to them. They will tell you everything and if you put those things together, you’ll have an amazing product and your unique value proposition will come out of it as well.
To Be a Leader
Stay humble. Be grateful and celebrate your wins. Fail fast and fail forward. Have a healthy relationship with failure.
Miha suggested we have a conversation with Brenden Kumarasamy, who has previously appeared on Ep 373, to talk about good communication. So Brenden, keep an eye on your inbox for an invitation from us to the InnovaBuzz Podcast, courtesy of Miha Matlievski.
Cool Things About Miha
- He teaches entrepreneurs the “4hr a week CEO” system.
- He’s passionate about helping and saving stray animals.
- He can speak nine languages – Bosnian, Bulgarian, Croatian, English, German, Italian, Macedonian, Serbian, and Slovenian.