It is not ok to fail
It is not okay to fail; it never was and never will be. As simple as that. I am not saying you should not try, but rethink twice before you do.
Just before you get into it, go for a beer with some of your best friends. Talk it over. Ask them to think with you, and embrace all the critics, good and especially bad. Your friends know you, they know how capable you are, and most importantly, they will be the first to support you and talk about your brand.
You will need a lot of energy and luck to push your brand above the ground. You will go all-in mentally and financially, and the brand will come from you. You will find the best designer, the best content maker, and the best product builder, photographer, and videographer you can think of, but still, it will be hard. So why would you want to fail? To learn something! To try?
I am afraid trying is just not enough. Make sure you will win. Make sure you are doing something great.