Fail Fast, Succeed Faster: Priscilla Presley’s Secrets to Entrepreneurial Success
Why Failing Fast is the Key to Business Growth
If you think success is about perfection, Priscilla Presley wants you to think again. The entrepreneur and co-founder of Forward Female believes that the faster you fail, the quicker you can learn and adapt.
“Failing fast is something I always tell anybody that I work with because the idea is not perfection—it can never be,” Presley shared on Heal Squad with Maria Menounos. “The goal is to fail faster than anybody else out there.”
The Power of Pivoting: How Failure Leads to Innovation
The key to innovation and business success, according to Presley, is not getting attached to a single strategy. Many entrepreneurs fall into the trap of thinking that their initial plan is the only way forward.
“If you’re too clung onto this idea that this strategy or plan is the only way to do it, you’re not open to new ideas,” Presley explained. “Being able to fail, recognize it, and say, ‘That didn’t work—why didn’t that work?’ is the key to success.”
This mindset was put to the test in March 2020, when the COVID-19 pandemic forced Presley and her business partners to pivot overnight. Forward Female, originally a co-working space for female entrepreneurs in Los Angeles, transitioned into a fully digital platform within a single weekend.
“We had to make the decision quickly—either we pivot or we’re done,” Presley said. “And thank God for our members, because they stuck with us through it. We realized we weren’t just helping women in LA anymore—we were reaching women in Canada, Mexico, France, and Australia.”
The Formula for Success: Obsession, Adaptability, and Support
According to Presley, the most successful entrepreneurs share a few key traits:
- Obsession: “You have to be completely obsessed with your idea,” she said. “If you’re not, you can’t expect anyone else to be.”
- Adaptability: “The best business owners don’t just keep doing what isn’t working. They analyze, adjust, and move forward.”
- A Strong Support System: Presley credits her business partners for helping her push through obstacles. “Having accountability partners makes all the difference,” she said.
Applying the ‘Fail Fast’ Mentality to Your Own Life
Presley encourages business owners and career professionals alike to adopt a “fail fast” mindset. At Forward Female, her team has a weekly tradition of documenting their learning lessons.
“Every Friday, we come together and say, ‘What’s the learning lesson we had this week?’ We keep it in a spreadsheet and try not to make that mistake again,” she said.
This kind of reflection ensures that setbacks become stepping stones rather than roadblocks.
Building Your Personal Brand: The Key to Standing Out
As a branding expert, Presley emphasizes the importance of personal branding in today’s digital age.
“Whether you know it or not, you are a brand,” she said. “Your brand is your identity. You have to know who you are, who your audience is, and what value you bring.”
For Maria Menounos, Presley and her team at Forward Female helped craft a new online presence that reflects the Heal Squad mission: providing a resource for mental wellness, health, lifestyle, and spiritual growth.
The Takeaway: Success Requires Action, Not Perfection
Presley’s story is a powerful reminder that the road to success is not a straight path. It requires trial and error, a willingness to pivot, and a strong support system.
“Success doesn’t come from being the smartest or most connected,” she said. “It comes from being the person willing to put in the work.”
For more healing and wellness tips, be sure to subscribe to Heal Squad with Maria Menounos via YouTube or Apple Podcasts.
