Let’s be honest… most of Dawgnation is waking up this morning like:
But you know what? Failure happens. It happens to us all… especially to entrepreneurs… it’s inevitable. The worst part about failure is the feeling of being crushed, defeated, and as if you’ll never be a successful entrepreneur (or a National Championship winning football team – ha!). However, all of those things mentioned are just feelings. Failure is one of the best gifts an entrepreneur can receive as it is an opportunity to learn from your mistakes and become stronger.
Find Your Spark Again
Make Good Decisions & Don’t Dwell on the Past
When you experience failure, it’s easy to make decisions using emotion rather than logic. Doing so often times results in detriment. For instance, as many of us were taught that failure is bad, when we fail, we’re tempted to quit. Just throw in the towel. However, successful people use failure as a stepping stone and opportunity to learn and build their next business even stronger.
Failure is a great opportunity to reevaluate your situation. Reflect on what went wrong, and find solutions to the problem that caused the failure. Learn from your mistakes, and do things differently next time.
Looking back throughout history, every single people who has accomplished something significant has also failed. Did you know that J.K. Rowling’s Happy Potter series was turned down by countless publishers… until she she wasn’t… and the rest is history. Also, Albert Einstein couldn’t land a gig as a professor everyone that has accomplished significant work has failed. J.K. Rowling had the Harry Potter books turned down by innumerable publishers. Albert Einstein could not even score a gig as a professor, but then his Theory of Relativity happened and totally changed the game and built a foundation for modern inventions such as the nuclear bomb and nuclear energy… along with new ways of looking at time, space, matter, energy and gravity in general.
Losing happens to everyone. Feeling defeated isn’t going to accomplish anything productive. Instead, forward-thinking will enable you to get past the problem and work toward a brighter future.
Learn [Fromm] It
(See what I did there? Fromm? Like Jake Fromm.)
At the end of the day, failure is just part of life. As far as Georgia Football is concerned, is it really a reasonable expectation to win every game? It would be nice, but it’s not a reasonable expectation. No one is perfect (except for maybe Bama and Clemson at this point). What sets eventual successful entrepreneurs apart from the rest is having the right mindset. Successful entrepreneurs are eager to embrace change and challenges. That, coupled with dedication, hard work, and determination is the game-winning formula to success. Tweet This
I’m confident that Georgia isn’t going to dwell on the past, will find creative solutions to their team weaknesses, and be much more prepared in the future.
Hopefully, these strategies can help you overcome business failures when you’re up against the usual growing pains of business ownership and help you be more prepared to weather unexpected Sugar Bowl storms from Texas.
(Source: J. Ashley Panter, Marketing Manager, UGA SBDC | Barrett Wissman, Guest Writer for Entrepreneur Magazine, Chairman of IMG Artists and Principal in Two Pillar Management | Ayodeji Onibalusi, Writer, The Balance Small Business)