If you’re a successful entrepreneur, chances are, this isn’t your first rodeo.
Most successful entrepreneurs whom I know are people who have tried, failed, tried, failed, and tried again — often many tries later — and eventually succeeded.
An entrepreneur who succeeds at his or her first venture is like getting a hole-in-one. Everyone wants a hole-in-one. Everyone tries to get a hole-in-one. But very few people actually do.
I wrote this article for those entrepreneurs who are on their first, second, or third attempt. You may have a string of failures behind you. But you’re still determined to succeed. What do you do?
1. Simply get up, and do it again.
This is my best advice: Just get up and do it again.
If that sounds harsh or impossible, then maybe you’re not cut out for entrepreneurship.
You won’t magically rise to success after a failure. You have to fight back. You have to get up. You have to hurl yourself back into the battle with all the ferocious energy that you can muster.
2. Write down the reasons why your last business failed.
Don’t waste your failure. Learn from it.
One of the first things you can do after watching your business go down in flames is to ask the question why?
Call it a post-mortem. Call it an autopsy. But whatever you do, don’t call it the end. Your failure is a lesson. Take heed, and take notes.
3. Get a mentor now!
What was missing from your last startup?
Money? Talent? Speed? Market readiness?
If you didn’t have a mentor, then it’s no wonder you didn’t succeed. To shortcut your path to success, find yourself a mentor.
You can find mentorship in paid mastermind groups, online coaching sessions, or through traditional networking. Don’t look for a perfect mentor. Instead, look for a variety of mentors, each of whom will have perspective and experience that can guide you in your business.
4. Watch your emotions.
Emotions are one of an entrepreneur’s most powerful personal assets. Why? Because emotions can keep you high when everything seems to come crashing down. If you’re emotionally calm when business is stormy, then your emotions will keep you at an even keel. You can make wise and rational decisions.
Protecting your emotions doesn’t mean being weak. Protecting your emotions means staying intentionally positive, surrounding yourself with upward influences, and making sure that you’re receiving the right dose of encouragement to balance out the negativity.
Here are a few things you may wish to try:
- Get connected to a loyal group of supporters. Family, friends, and mentors are all great sources of support. Be open about the kind of emotional vibe you value when you’re around them.
- Tell your mentor about your desire for emotional strength. He or she may have some wise words to help you.
- Take breaks. Recharging — away from work — is a great method for maintaining emotional resilience
Getting discouraged, losing your momentum, and giving up — these are the hallmarks of an entrepreneur in a nosedive. By maintaining a strong grip on your emotional power, you will be able to build an