As an entrepreneur, you’re going to fail. It’s a fact of life when you’re trying to build your brand and your empire. Some ideas won’t catch on. Some business decisions will fall flat. Some brands won’t ever take off. Some investors will say no.
These things are only problems if you stop trying and give up, but sometimes it’s hard to see past an immediate failure to how you can move on. As a result, people get caught up in their failures for way too long, and they miss a lot of great opportunities. So how can you bounce back faster and get back on your feet so that you can keep trying until you succeed? Try out one or all of these great tips for getting past failure as fast as possible.
RE-FRAME REJECTION AS A LEARNING EXPERIENCE
Whether you’re making a pitch to an investor, trying to sell products to new customers, or making any other effort for your business, you’re going to get rejections. It’s easy to see these as failures and think, “What’s wrong with me? How am I still failing at this?”
Instead of doing this, look for the learning experience in every rejection. If you listen to them, investors will usually tell you why they’ve chosen to pass up your proposal. This can tell you where you need to work harder, what errors you need to fix, whether you need to revamp your pitch, and much more. If rejection is an opportunity for education and experience, it’s never a bad thing. This mindset will help you bounce back faster instead of moping about a lost opportunity.
THINK OF PEOPLE WHO’VE SUCCEEDED
Not all failures will be rejections. Some will be in terms of sales numbers, lost employees, and abandoned business ideas. When you have one of these failures, you might be tempted to take a break from the entrepreneurial life to go back to work at a corporate job while you rethink your decisions.
Don’t do it! Instead of “taking time off,” look at people you know personally and people you’ve read about. Look at their successes and get inspired. After a failure, you’re going to be tempted to curl up in the corner and lick your wounds, but that’s not productive. In fact, while you take time to feel sorry for yourself, someone else is out there hustling to be the next Daymond John.
If you “take time off,” you’re likely to get stuck back in the corporate world and never make another attempt. On the other hand, if you actively look for people to inspire you to do more and keep trying, you’ll be more likely to go after your goals and achieve your dreams.
TAKE RESPONSIBILITY – BUT DON’T BEAT YOURSELF UP
Finally, the best way to get over a failure is to sit down, analyze what went wrong, and take responsibility for your part in the failure. The tricky part of this, though, is to avoid beating yourself up.
You want to own your actions and decisions and learn from them. Berating yourself for everything you did wrong isn’t productive. But if you can say, “Okay, I launched this campaign too soon, and I didn’t do enough market research,” then you know where to start with your next campaign to make it more successful.
So what do you think? Can you use these tips to bounce back and achieve your goals after a failure? Try them out and see what happens!