Failure is an inevitable part of the entrepreneurial journey!
Sometimes no matter how well we plan and how much effort we dedicate to something, we fall short of our goal. The end-result causes a variety of challenges and problems. It can adversely affect financial position, reputation, relationships, team spirit and much more. It can also start to spiral into personal life and affect family, health, and overall well-being. Unfortunately, such situations are often perpetuated by denial by placing one own’s head in the sand.
Well, when our head is in the sand, our most vulnerable ass-et is sticking out in plain view. Some will laugh. Others will point and snicker, telling others. And a few will take advantage of the situation and current position of vulnerability. Sadly, we put ourselves in that position. Not because we swung and missed. Not because we didn’t see the forest for the trees. And not because we just flat-out saw something that wasn’t there. Instead, it’s because we didn’t keep our head high, accept the situation, learn from it, and move on, and with laser-focus. That is exactly what entrepreneurs do when faced with failure.
You see, entrepreneurship is a journey full of ups and downs. It is often seen as a symbol of success, but what many people fail to acknowledge is the amount of failure that goes into creating a successful business. Failure is an integral part of the entrepreneurial process, and it is something that every entrepreneur must face at some point in their journey.
But it is not just the failure itself that can be challenging for entrepreneurs; it is also the fear of failure that can hold them back. Many entrepreneurs fear failure because they see it as a reflection of their own abilities or worth. This fear can be paralyzing, preventing entrepreneurs from taking risks and pursuing their dreams.
“Many of life’s failures are people who did not realize how close they were to success when they gave up.” — Thomas Edison
However, the truth is that failure is a natural part of the learning process, and it can provide valuable lessons that can help entrepreneurs grow and improve. Many successful entrepreneurs have faced failure in their careers, and it is often these failures that have paved the way for their ultimate success.
One of the most famous examples of an entrepreneur facing failure is Steve Jobs, the co-founder of Apple. Jobs was famously fired from his own company in 1985, after a power struggle with the board of directors. However, he went on to start another company, NeXT, which was eventually acquired by Apple in 1996. Jobs returned to Apple and went on to lead the company to unprecedented success with the launch of the iPod, iPhone, and iPad.
Another example is J.K. Rowling, the author of the Harry Potter series. Rowling faced numerous rejections before her first book was finally accepted by a publisher. She was told that her book was too long, too dark, and that children would not be interested in reading it. However, Rowling persisted, and her perseverance paid off, with the Harry Potter series becoming one of the best-selling book series of all time.
These examples demonstrate that failure is not the end of the road for entrepreneurs. Instead, it can be a catalyst for growth and success. However, it is important to note that failure is not a guarantee of success. Not every failure will lead to a breakthrough, and sometimes, it may be necessary to pivot or change direction to find success.
“I can accept failure. Everyone fails at something. But I can’t accept not trying.” — Michael Jordan
So, how can entrepreneurs cope with failure? The first step is to acknowledge and accept that failure is a natural part of the process. It is important to understand that failure does not define an entrepreneur’s worth or abilities. Instead, it is an opportunity to learn and grow.
Entrepreneurs should also be willing to take risks and try new things. Failure is often a result of taking risks, but it is also necessary to achieve success. Entrepreneurs should not be afraid to try something new, even if it means they may fail.
Finally, entrepreneurs should seek support from others. Failure can be isolating, but it is important to remember that many others have faced similar challenges. Entrepreneurs should seek out mentors and peers who can provide guidance and support during difficult times.
Ultimately, failure is an inevitable part of the entrepreneurial journey. However, it is not something to be feared or avoided. Instead, entrepreneurs should embrace failure as an opportunity to learn and grow. With perseverance, resilience, and a willingness to take risks, entrepreneurs can turn failure into success.
Resources & Support
Entrepreneurs & Depression… It cannot be addressed enough!
Revisiting a Personal Experience of Fear and Consequences of Failure
The future may be a bit bumpy for some, more so for others. Knowing who to turn to and when to turn to for guidance and help is important. Having resources at your disposal is also important.
So, if you hit a wall, for whatever reason, please feel free to reach out to me for assistance or even if you just need someone to talk to. Please do not hesitate.
You can reach me on LinkedIn, by email to Paul@Acceler8Success.com, and by phone or text at (832) 797–9851.
Learn more about Acceler8Success Group at Acceler8Success.com and at Entrepreneurship411.com.
Have a great day. Make it happen. Make it count!
