Failure in your business can happen at any stage in your business. Big or small, in the beginning, or when you are well established. It’s causes is determined by each of us in different ways – from losing an important deal to not being able to pay your staff.
We all deal with failure differently but the important thing to remember is that failure in your business does not make YOU a failure. It’s part all of this entrepreneurial roller-coaster! Here is a short video post about or top 5 steps to overcoming failure on your journey.
Please share any of your steps via comments!
We would love to learn new tricks as well!
There are many ways you can overcome failure but don’t let it hold you back or throw in the towel because of one mistake.
Don’t let the failure throw you off course. Take some time away from the business. Spend time with family and friends and revaluate what you want out of life. Don’t dwell over what has happened. Spending a few days away will make things clearer, put the failure into perspective and enable you to carry on.
- Don’t act out of emotion
It’s very easy to have something happen in the business that we see as a failure and immediately react negatively, threaten to call it a day and you’re going back to the 9-5! Take some time away and journal. Get everything out of your head onto paper. This will help release those emotions and calm you down
- Have a network
Taking time out with your business besties, your close friends and family who you can chat to about your failure will put it all into perspective. Because they are not emotionally involved in your business as you are, they will usually have some words of wisdom, and bring you back down to earth again to make you realise that it’s not that bad after all.
- Failure is a good opportunity to re-evaluate your situation. Ask yourself why you failed, and if you can improve that situation so it doesn’t happen again. If your business has underperformed that month, then it is a great opportunity to investigate why this happened and what can you do to bring in more income. Can you create an evergreen product, a course or eBook. Do you have content that you have created but never shown to the world? This kind of products can be packaged, launched and sold to make extra revenue
- Learn from your mistakes
As the saying goes “what doesn’t kill you makes you stronger” Don’t dwell, even the most successful business owners have had setbacks and been rejected. It makes you the person you are today, it makes you stronger, makes you more determined and focused that it won’t happen again.
Now! You can do this! Don’t let the fear of failure or failure in your business stop you from smashing those goals and following your dreams.