“Embrace failure. Missteps and roadblocks are inevitable but are ultimately an opportunity to learn, pivot, and go after your goals with new perspective.”
Ok, first up, the hard talk… Failure is inevitable. And as business owners and mums, we’ll all experience the disappointment it can bring at some point.
Whether you feel like you failed because you lost out to a major competitor, missed a crucial deadline, or you couldn’t attend the school summer fayre or sports day this year, it hurts.
But as a business owner, and parent, you shouldn’t let failure define you.
Because here’s the thing. EVERY successful entrepreneur will experience an element of failure at some point in their business journey. Each will have their own story. They will have endured trials and tribulations during their start-up period, and they will, no doubt, have a list of things they wished they’d done totally differently. But even with these experiences they are still successful in business, and their children haven’t given up on them just yet.
What’s the secret to bouncing back from failure? It’s simple… The reason successful women in business haven’t let their negative experiences define them is down to the way they’ve reacted to them. Failure doesn’t have to break your business, in fact, with the right mindset, failure could actually make your business. Here’s how.
1. Find Value in Your Failure
Firstly, as a business owner, you need to glean value from failure. Are you a perfectionist who accepts nothing less than precision? Are your knee-jerk reactions really the best way to tackle your disappointments? Or would it be better to reflect on the situation, find out the lessons you’ve learnt and use them to feel empowered instead of debilitated? The way that you view whatever you term as ‘failure’ will either make you or break you. Let’s make sure it’s the first one!
2. Stay Positive (even when it’s really tough)
Depending on the severity of the circumstances, remaining as positive as possible about your experience is key. Let’s face it, life is the biggest learning curve of all and if we can handle everything thrown at us, in our own unique ways, then we’ve already got the inner tools to bounce back. Failure is part of your business journey too and if you observe it as a learning curve or a stepping stone, you can stop to guilt that comes with failure from eating away at you for no good reason.
3. Remember It’s Not Personal
In business, it’s a good idea to remember that failure isn’t personal. You didn’t miss out on that client because of the way you talk or the outfit you were wearing. But you may have missed out on that client because your competitor is more experienced in what they need right now, or their business was located closer to the potential client and they wanted to have the opportunity for 1-2-1 meetings. Don’t let your imagination run riot here. Don’t over analyse the situation. And definitely, don’t take decisions personally when it comes to your business.
4. Transform Your Failure Into Success
By looking at your failure and facing your fears, your experience and your business will grow. Reflect on the steps you took which led to the failure.
- How could they be improved?
- Have you learnt a specific lesson from this failure?
If you’re serious about growing your business, overcoming adversity and succeeding as an entrepreneur, you will need to change your perspective, a lot! Be flexible in your thinking and use your experiences (good and bad) to grow as a business owner. Return with a stronger, wiser mindset and bounce back from failure with maturity and mental preparation. After all, we don’t have time to wallow. We need to keep on building our naptime empires!
Remember… Don’t let failure break your business. Let failure make your business.
What do you say?
Have you experienced failure in your business?What did you learn and how did you bounce back? We’d love to hear your stories in the comments!