“Everyone hates to fail, but for some people, failing presents such a significant psychological threat their motivation to avoid failure exceeds their motivation to succeed.” – Guy Winch, Ph.D.
One of the worst things that can happen in your life as an entrepreneur is discovering that your business has failed. It can be embarrassing on your part to accept the reality that all your efforts have gone to waste. You will start to think of your family members and loved ones, especially as to what they might say about your failure. Do not worry because there are several ways on how you can bounce back after experiencing grief for what happened in your venture.
Here are the tips to remember when it comes to surviving a business failure:
Feel The Pain
Stop denying to yourself that you failed. The smartest thing to do is to accept the reality that somewhere along the way, you made a decision that led to an unfortunate event. Now is not the time to blame yourself for what happened. “Sometimes people are facing extremely painful emotions that they don’t know how to live with, sometimes it is patterns of thinking or behaving that make no sense and leave them frustrated and angry, sometimes it is anxiety and fear that prevents them from attaining their goals,” says Claudia Eisen Murphy, LMHC.
However, it does not mean that you will pass the error to some other persons. The mature way of handling this matter is to welcome the pain and learn from your mistake.
Just because you failed in one business venture does not mean that you are going to fail in another new investment. Sometimes, you have to experience losses so that you will know how to make better decisions in the future. Take your mistakes as lessons that will inspire you to do your best. As such, find ways to look for motivation. Hold your head up high and believe that better things are coming your way. Besides, as Beata Souders, PsyD puts it, “It is in our nature to strive, to want, and to move in a direction of something we desire and deem valuable.”
Talk To A Friend
As much as possible, never shut the people who love and care for you. Stop pushing them away because it will only make matters worse. Instead, listen to what these individuals have to say about what happened. Do not worry for they are not there to judge but rather to lift you up. At the same time, do not hesitate to discuss your problems and concerns to a special friend. Be honest about how you feel so that you can easily move forward to better tomorrows.
Do not deprive yourself of an opportunity or chance to start all over again. As already mentioned above, you need to learn from all the mistakes that you have committed. Avoid doing the same errors over and over again. What is proper is to find a new way on how to grow your money. Read books that will tell you how to increase profits and sales. At the same time, search for a business idea that has a high chance of profitability. Try to conduct a feasibility study first before investing your time and money for this.
Seek Professional Help
If you believe that your issues about failing as a businessman cause too much stress and anxiety for you, then be sure to look for the right therapist to help you deal with the problem. This professional can provide a specific set of guidelines that you can follow to see to it that you will bounce back from the traumatic experience. The assistance of a therapist is all you need to let go of your inhibitions. Make an effort to connect with the best therapist in the city.
Experiencing a failure in business is only part of your life as an entrepreneur. Be smart enough to understand the process. Stop telling yourself that you deserve what happened. Start conditioning your mind to believe in something bigger. You only experienced a setback, but now you can get back on track as long as you put your heart and mind into making it happen. Keep moving forward today