As a business owner, how do you face failure? What do you do with rejection? Does it stop you from accomplishing your goals?
To many entrepreneurs, failure sounds like the scariest thing they will face in their journey. Unfortunately, the fear of potential failure stops people from pursuing new ideas, and in many cases, puts an end to their entrepreneurial dreams altogether.
Failure Is Not the End
Though many let failures get in the way of success, it doesn’t have to. As an entrepreneur, overcoming failure is a natural part of the process. In fact, what if I told you that failures can actually benefit you as a business owner?
Every business owner, at some point or another, deals with failure and rejections—and it never feels great. If you find yourself there, you aren’t alone. We shouldn’t let failure consume our thoughts, though. Let me show you a better way forward through failure and rejection.
3 Practical Steps to Take When Facing Failure and Rejection
Climb your way through setbacks with these three practical tips.
1. Don’t Fear Failure
No one looks forward to failing. Some people let failure turn them away from their endeavors. Some people blame others for failures and mistakes instead of taking responsibility. Many people have an ongoing, negative response to failure, but you don’t have to be one of them.
Failure will happen to you as you pursue your goals. Expect it. But don’t internalize it or let it affect what you believe about yourself. You have what it takes, and failure doesn’t define you. It’s just something that happens sometimes. While some are avoidable, and you can learn from mistakes, some are unavoidable based on circumstances outside your control.
Let failures inspire you to try new methods. Remember what Thomas Edison is said to have responded about all of his failed light bulb attempts: “I have not failed 10,000 times—I’ve successfully found 10,000 ways that will not work.” Learn from your failures, so you can move toward better ideas and solutions.
Join the ranks of the successful people you admire, who have all faced their share of failure.
2. Build a Support System
On your entrepreneurial journey, make sure you have support. Business owners find support in a variety of ways, and the most successful ones will tell you how much of a role their support played in getting them to where they are now.
Join an encouraging group of other entrepreneurs who understand the challenges of this lifestyle and business management. These days, you can find groups in person or in digital forms. Look for Facebook groups, mastermind groups, or local business owners’ groups in your community. Seek out a mentor with another successful business owner who can show you the tips and tricks of their success.
Find happiness and fulfillment with your family and friends. They are some of the reasons you do what you do—if not the most important reasons! Even if they don’t understand the concepts of digital marketing, they can encourage you to follow your dreams and make them a reality. Plus, building relationships with them is invaluable and should be a priority in your life.
Process failures and rejections with the people who support you. Sometimes, all you can see is the failure in front of you, but loved ones remind us of the true value in our lives. They can also see things we can’t. Getting others’ opinions on what we can do differently helps us to see different perspectives we wouldn’t have thought of on our own.
3. Keep Going with Consistency
In the face of failure and rejection, keep going. These do not equal a failure of your business. Instead, focus on the progress of moving forward—despite setbacks.
When you fail, learn new methods to make your efforts more likely to succeed. Adjust your schedule and mindset to foster the best circumstances under your control. You don’t have to change everything at once, but you can make small changes that add to the success of each day, and they’ll ultimately help you move toward your goals.
Observe your failures and criticisms and see what you can learn from them. Did you make an avoidable mistake? What can you do to improve your methods or grow in knowledge so that you don’t make the same mistake? You can even keep track of your failures in a journal, so you can later look back and see how much you’ve learned.
When you fail or face rejection, pivot. So maybe your ideas aren’t everyone’s cup of tea. You could use that rejection to help you narrow down into a niche where you can draw in more clients. Engage your imagination and see how you can look for new opportunities. Make a plan and go for it. If you find yourself fearing failure, turn and face it head-on, so you can learn from it.
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