How many times have you failed in business? I am one of those business people that failed and still fail to this day .
You have to gear your mind to accept whatever challenges come your way .
Businesses go bankrupt they restructure, reorganize.
Failure is a part of business. Every great investor Business man has taken a lost .If failing was such a bad thing Warren Buffett and Elon musk would have long given up .
They wouldn’t be wealthy
Do not get bent out of shape when things don’t go according to your plan.
Give yourself a fighting chance Business is a learning process .
Failure is nothing new but it is your outlook on things that make the difference.
I know it hurts to lose money but you must not allow your emotions to get the best of you. The main thing is to keep innovating .
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Amazon CEO Jeff Bezzos has lost lots of money . Remember when Amazon first started Jeff Bezzos took on debt and a loss in profits. He was investing profits heavily back into research and development to help grow Amazon.
Look at Amazon today . So what ever obstacle you are facing in it can be turned around .
Mind you Some businesses can’t be saved no matter who comes in as CEO or manager . Sometimes you have to cut your losses and move on . I have had to cut my losses a few times .
The two things we will not get back
- 1 Time
- 2 Money
At some point in time you might recoup more than you loss but you will never get that money back. Once it’s gone it’s gone.
You cannot turn back the hand of time however you can learn from your past mistakes and success stories.
We are not fortune tellers .
Money is currency. Some people allow their money to work for them whilst others work for their money .
At some point in time if you are innovative business will get better.
You have to invest profits back into research and development .
If you are not willing to accept the fact that failure is a normal part of business you are not likely to push through in the face of adversity.
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So be openminded and prepared to brace your failures.
I am not saying take on the” I don’t care attitude.”
I am simply saying learn from your failures am. You can’t expect for everything to work out.
If you are steadfast a person that wants to learn you have a bright future .
Every success story was born out of failure. Imagine Coca cola giving up after seeing disappointing first year sales ? Imagine Elon musk giving up at the time Telsa was on the brink of bankruptcy .
How would that have turned out for his legacy ? When you are an employer your employees depend on you .
You have a great responsibility and must do everything in your power to succeed .
Sometimes you might have to make decisions that are not just in your best interest but in the best interests of your employees as well.
If you fail to inspire and create an environment that is comfortable putting your employees in the best possible position to excel you have failed.
Now you can see there are many pieces to the puzzle that need to be put
Rid yourself of the solo mindset and start thinking of ways to evolve and grow as a leader.
In life what you learn from failure matters even more than the failures itself .
The most successful entrepreneurs in the world have overcome failure and used it as a stepping stone .
Business are not going to grow without failure So if there is anyone that hasn’t failed they haven’t tried anything .
I have had to face many difficulties on my journey as an entrepreneur but I never gave up.
I am constantly looking for ways to improve myself .
We get excited about the money the service and products that we sell.
When things are going good it is easy to get complacent but when difficulty pops up Your attitude changes .
One thing you must understand is that money cannot buy you happiness
If your building a business to get rich not one to serve and provide solutions to the community micro and world macro you need to re evaluate your self .
You have to be of value to others otherwise you are setting yourself up for a let down.
Arrogance and ego is the number 1 business killer .
With success comes complacency and then the big fall . Therefore we have to be mindful not to allow ourselves to think that we have it all under control.
Confidence is something I highly recommend but that doesn’t mean you shouldn’t stay sharp and alert and ready to pounce on opportunity.
On another note you must not be controlled by failure
Allowing fear to control you will stifle your growth and If you aren’t growing then there is no need for you to be in business.
What is needed is for you to manage your failures in away that moves your brand forward.
It doesn’t matter If you go bankrupt or lose market share to a competitor .
Failing doesn’t mean you are not good enough, failing means that something needs to be corrected.
Everything I am sharing with you in this post is based on experience.
When you are willing to embrace failure as apart of the process you will be more willing to try new and different things .
However if you think winning is the only important thing you will be reluctant to try new and different things .
Hence why I look at winning and losing in terms of learning and growing.
And when you reach that level you will be willing to learn and take chances.
Business life is about taking calculated chances and making the most out of every opportunity.
You most definitely want to make informative decisions before you take a chance.
When you are prepared and calculated you will get positive results . Problems are meant to be solved it’s just some are not worth salvaging.
Some of us think we we are entitled not to have problems .
The reason why I am able to share my failures with you is because I am transparent and I am not afraid to fail. Plus people are more likely to relate and would feel more comfortable working with me .
If I was here acting as if I have never failed people would catch on at some point and question my credibility. .
That’s why entrepreneurs need to be open and transparent.
Some entrepreneurs are afraid to share tgeir failures as if people don’t know failure exist .
Once people start doing the work they would see for themselves and start experiencing the pitfalls they would are not likely to trust you.
Being honest and considerate is a big bonus in life and healthy for business.
I am not where I want to be but I am happy to be planting seeds in peoples lives on a daily basis .
Failing has enabled me to prosper .
I am at a point now where If I lose a client or contract or lose sales I am not stresing out about it. .
For every no there is a yes so whilst you might be struggling now there are plenty more opportunities .
I want you to start thinking beyond the present moment .Start Analyzing your game plan
Summary
I do hope that you leave here inspired and intune with your goals and vision .
Business ownership is not easy and I don’t think that it is meant to be however things do get better over a period of time
You have to be patience and trust yourself throughout the process.
Remember a rising tide lifts all boats not just a chosen few .