What Can We Learn From Other's Failures?

I came across an article in the Business Insider  about the bankruptcy of a celebrity - 50 Cent, a famous rapper.

The interesting thing about this story is NOT that he was worth around $155 million, or that he has been mega successful in business, thanks to his minority stake in Vitamin Water.  In 2007, the Coca-Cola company acquired Vitamin Glaceau for 4.1 billion.   

It is also NOT about the fact that he has sold over 21 million albums.

Nor is it that he was ordered to pay $5 million to his rival Rick Ross' ex-girlfriend, who sued him for posting a sex tape online to millions o viewers in an attempt to embarrass Ross.

Although this may be interesting news to some, the truly interesting message in this story that no one has addressed, and most will miss, is that it is a lack of ethics, values, integrity, personal responsibility and leadership, that would allow him to take such an action.  Personal ego has also obviously gotten in the way.

We hear all the time of people in life and in business, making it big...business success, winning lotteries, etc., and yet years later many end up broke or bankrupt.  How can this possibly happen?

It boils down to living your life by principles and values that produce success in business, relationships, everything that is a part of our lives.  When people enter into success and start enjoying "never having to worry about money", if they do not change the mindset they had in their previous life when they struggled, the money will not make any difference, and it will be temporary. 

Success can be pulled out from under the individual quickly, or it may take years to catch up as we have seen in the recent Bill Cosby situation.  

We cannot bring about better results in our lives with the thinking that brought us to this point.  Equally we cannot maintain any new found success with old thinking.  If we maintain the same mindset as someone who struggles with money and we win the lottery, within a few years, many lose what they won.  If we do not treat peole with respect when we don't have money, and then experience success as many celebrities do, eventually that success will fall apart.

We have all heard the phrase growing up "they are filthy rich".  It is such a negative, derogatory comment describing people with wealth.  Wealth is not bad.  It is people with wealth that act poorly based on their ego, a lack of ethics, values, integrity, personal responsibility and leadership that can give wealth a bad "rap".

This can happen just as easily with someone that has no wealth.  It is the person, not the money.

Why would any good human being want to publicly embarrass anyone, or do harm to someone?  Why would anyone with wealth wish any bad fortune on someone else, or take advantage of someone?  This is a mentality of revenge and control, and can never produce a positive result.

Part of the responsibility of being a wealthy person, or a success in life, is knowing the importance of reaching back to help others.  This isn't about money.  It is about sharing what you have learned to help others succeed, or, helping others see what is possible for their lives by being the inspiration they can follow.   A positive example of this is demonstrated here by singer Michael Buble.  He demonstrates wonderfully how you can use your success to lift others up and help them find/live into their potential.   It is about taking a stand for what is right, what is good, and not being a follower.  It is about being a good person that makes a difference to your immediate community and world around you.  Success come with personal responsibility.  This is a huge missing link for many that don't recognize they need to change the way they think.

Revenge comes from a mindset that there is only so much "pie" or, money to go around.  This comes from a poverty mindset, not a mindset of wealth and success. Equally those that attempt to "control" others are coming from a place of ego and power.   If that mindset doesn't change, experiencing wealth will be temporary.

A person that has not had success, but manages to create financial success, but doesn't change their ways, will not have long term success.  It will be fleeting.  This is why we see many that win the lottery run out of money and end right back where they started.

A good person that becomes successful usually recognizes that they now have a higher level of personal responsibility and leadership to strive for.  They understand how to use their success to influence in a positive direction.


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Debbie Ruston has been an entrepreneur and trainer since 1986. She works with individuals, and groups interested in developing their entrepreneurial leadership mindset. Was this article of value to you? Feel free to share it on your social networks and with your contacts, join in the discussion below, and FOLLOW her on the top right corner of this page.

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