No one likes to fail but if you don’t fail, it simply means that you are not doing anything significant or you are not trying at all. Therefore, failure is an integral part of success not the opposite of success. If you want to succeed in business and prosper in life, it is important to realize that failure, though can be painful and costly, is an inevitable part of success in business and in life.
When you fail in business, it simply means you are yet to achieve success. The mindset you have about failure is what will help you pull through difficult circumstances, so you can reach your desired destination. If you have recently failed at a project or business, here are 5 tips that will help you bounce back.[Great Read: 5 Ways to Alienate Your Customers on Social Media]
1. Press the “pause” button and reflect
After a failed business, the first thing is to press the “pause” button to reflect on how you got to where you are. Reflection is an important exercise that helps you gain perspective of where you started, how far you’ve come and how far you are going.
Each step you took forward or backward is of high importance is helping you gain perspective of where things went wrong. Also, the time of reflection is a time of asking the right questions. Ask yourself questions like, “what are some of the red flags I should have paid attention to but I ignored?”, “what can I do to avoid pitfalls?” and “what are the steps I need to take to improve?”[Great Read: 5 Time-Management Skills to Help You Reach Your Business Goals]
Providing detailed answers to these types of questions help you gain perspective and prevents you from repeating the same mistake. Another point worthy of note is that when you press the “pause” button, it’s not the time to play the blame game or wallow in self-pity. Yes, it’s okay to cry because of the costly mistake but you must also be determined to rise up, assess your situation, see better opportunities and keep moving.
After you press the pause button, you’ll need to decide what next to do. This is where re-strategizing comes in. Analyze whether it’s worth it to give the project a try again, focus on another aspect of it or try something new entirely? Sometimes, making this decision can be as easy as ABC and sometimes, there’s never a straightforward answer.
Whatever option you decided to go with, be sure to count your costs before you dive in. That’s why at Onpoint Success, we always help our clients to see the bigger picture before they start.
Also, we map out a strategy that will walk them through the timelines and how things are supposed to work. Re-strategizing is so much more than talking. It’s about rolling your sleeves, picking up a pen and writing things down so you can know how to move from point A to point Z.
3. Ask for help
One of the major reasons why people fail and never recover is that they fail to ask for help. Why do people have problems asking for help? There are many reasons why people fail to ask for help. Some of those reasons are the fear of rejection, cultural beliefs, pride and secrecy.
As an entrepreneur who wants to succeed in business and prosper in life, you need to get used to asking for help not only when you fail but every time you are about to make a major decision. Asking for help will help you see things from a different perspective, help you make better decisions and also reduces the chances of failure.[Need advertising? Advertise with us and get in front of an international audience. Click HERE to get started]
However, asking for help needs to be approached with wisdom. First, you must be mindful of whom you are asking for help from. Just because you have a huge problem at hand or you just experience a massive failure does not mean you should ask for help from anybody. If you truly need help bouncing back from a failure, the best approach is to ask for help from a seasoned professional who is not only sound but also empathetic.
Second, choose someone whose values align with yours and is not intimidated by your desire to grow.
Third, you might need to pay someone before asking for their help. Why should you pay? Paying someone to lead you in the right path shows that you value their time and that you are committed to getting things right.
4. Join a mastermind group
If you’ve never joined a mastermind group, then you are short-changing yourself. Mastermind groups are great for exchanging ideas, brainstorming, learning from other people’s experiences and prevents you from re-inventing the wheel. If you do not belong to a mastermind group and you are a woman, consider joining our business mentoring platform with members spread across four countries and counting.[Great Read: 6 Things to Note Before Starting a Business]
5. Keep moving
As you know failure is not an excuse to stop moving. To attain that great height you dream of, you must learn how to keep moving even if it’s at a snail speed.
Above all, always remember that failure is a part of success. There’s no way you can achieve anything great in life without first failing. When you fail or fall, it’s okay to cry and whine but you shouldn’t stay in that stage for too long. After a little while, pick yourself back up, follow the steps described above and bounce back to your success.
Thank you so much for reading! Is there any other tip you like to share about how to bounce back from failure? Please share in the comment box below.
P.S. From now until September 14, 2019, we open the doors to our business mentoring platform, #osbselite and we are so excited that not only will these super entrepreneurs be succeeding in business, but they will also prosper in life. If you are yet to sign up, this is a GOLDEN OPPORTUNITY you shouldn’t miss. Click HERE for details.