How Successful Entrepreneurs Handle Failure

Handling Failure

There are many differences that separate the winners and losers in business.

One big difference is how they handle failure.

Successful entrepreneurs have a positive mindset around the experience of failure.

When they fail, they look at it as a result.

They took “x” steps and produced “y” result.

“y” isn’t the result they wanted so “x” didn’t work.

So, it’s back to the drawing board to change the formula and try again.

Many new business owners don’t make it out of the gate because as soon as they fail, they think, “Who am I kidding? I knew it wouldn’t work” and then they give up!

If everyone had that mindset, we wouldn’t have electricity, airplanes, vaccines … actually, we’d have pretty much nothing!

Anyone who has never made a mistake has never tried anything new.

Albert Einstein

Every single success in this world was preceded by one, two — a thousand failures!

Thomas Edison failed more than a thousand times before he perfected the light bulb.

If you’re not failing, you’re not pushing yourself hard enough.

You are remaining in your comfort zone and cannot expect to reach the level of success you’re capable of.

Failure is what allows you to learn and grow.

If you quit as soon as you meet with failure, you will always remain exactly where you are.

He who fears being conquered is sure of defeat.

Napoleon I

Albert Einstein once said, “You cannot solve a problem with the same level of thinking that created it.”

And, “The definition of insanity is doing the same thing over and over again and expecting a different result.”

What these statements teach is, to overcome failure, you must think differently and act differently.

Problems are not stop signs, they are guidelines.

Robert Schuller

Thinking and acting differently is what separates the ordinary from the extraordinary!

You might have to seek out guidance from someone else who can offer the expertise you need.

You may need to inject new perspectives and talent by forming a team around your project.

Fear of failure is one of the biggest obstacles that hold new business owners back.

Failure itself should not be feared, but embraced because a life lived in fear is a life half lived.

If you’re stuck and unable to move forward because of your fear of failure, or because you have failed in your previous attempts, bring someone else into the mix to offer support and guidance.

Tweak your plan and give it another go.

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