4 Ways to Bounce Back from Failure in Business

Startyourownbusiness

We put such a high value on success these days that we don’t realize the stress it puts on ourselves while building this huge irrational fear of failure.

I can sit here and tell you to fail and bounce back, but that is so much harder said than done, because when you are actually hit with failure or the impending doom of having to shut down, you too shut down.

Most startups and young entrepreneurs fail on at least one endeavor they have been a part of or started. Pretty high stats if you ask me. Makes me think twice about why the hell I started my own company to begin with. But then one of those highs come along, with every battle won on the business plan that makes you think this is why I left the corporate world to fight in the jungle and it is well worth it.

While anticipating all the highs, you should also anticipate getting hit hard and think about how you are going to bounce back and learn from it. Here are four ways to jump right back on the horse:

 

 

1. A bad outcome doesn’t necessarily mean you’re a loser. Take the long view – almost all great entrepreneurs face setbacks.

 
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2. Maintain a winning attitude. Exude confidence and position yourself for the next wave. There are always highs and lows, so prepare yourself for the next high tide.

 
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3. When you take big risks again, think through the worst-case scenario so you recognize it sooner when it starts to unfold. Do not let any of the outcomes of your decisions surprise you.

 
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4. Although confidence is important, at the moment of decision you need to be realistic. So, seek the advice of seasoned advisors or board members, they will guide you through the decision-making process based on to their past experiences.

 
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WE SAID THIS: Check out The Smart Way to Start Your Own Business: The Truth About Entrepreneurship.

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