“Wait” Training: Failure Happens
The waiting period between the date you finalize your business plan and the date your business is profitable and thriving, can be described as the heart and soul of the entrepreneur’s experience. You’ve completed the research, your financial projections are solid, you’ve secured the necessary capital to prepare for your official launch date and you are ready to hit the ground running. But what happens when the lived experience looks nothing like the researched plan? What happens when failure after failure seems to be the only predictable constant? Well, my best advice is: failure happens…expect it, embrace it and excel beyond it.
Let’s be real…in today’s culture, the thought of failure is romanticized. There are books, blogs and business features focused on the “art of failure” which oftentimes project a straight line from failure to success. While such depictions make for good reading, they rarely get to the reality of failure.
As an entrepreneur, I’ve experienced many painful failures balanced by notable successes in the pursuit of building a profitable and thriving business. While my business plan is the foundation upon which my business is built, the failures and missteps are critically important to the success and longevity of the business venture. Failure is inevitable. You have to decide if it will suffocate your dreams or resuscitate the possibilities. Below, I’ve listed my three-step process of dealing with failure as an entrepreneur.
- Expect it!
Being a true Minnesotan, I plan for failure much like I plan for road construction. I know it’s coming, it has the potential to make life very frustrating, it may temporarily throw me off track, but it is necessary to improve the overall condition.
- Embrace it!
My southern grandmother had a saying, “bought sense is better than given.” This piece of advice means we often value things that cost us something, more than we value things freely given to us. Failure is an opportunity that costs us something. Whether a financial setback or human heartache once we embrace the reality of failure we can reset, learn and get ready start again.
- Excel beyond it!
Plastered on my wall are notes to self that list my goals and vision statement. Failure can easily take our thoughts down a rabbit hole of negativity. In order to excel beyond a failed experience focus on the long term goals rather than the immediate disappointment. Failure happens. Use it to your advantage and excel beyond the original plan!
I’d love to hear from you. Tell me about your process for excelling beyond failure. Contact me at bit.ly/FavTreats.