Escaping Failures In Startup Businesses

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Escaping Failures In Startup Businesses

I would like to begin with the words of Winston Churchill, “Success is not final, failure is not fatal; it’s the courage to continue that counts.” If you fail and don’t give up; you are stronger than you think.

People who fail with their startups and consider giving up; must believe that there will always be a way out. You just need to keep trying unless you find it. Analyze how and why you failed and push yourself above the setbacks.

Types of Failures:

Your prime target should be to categorize your failures. It helps you learn. You can divide failures into three types:

  1. Avoidable Failures: The worst kind, which could have been foreseen but weren’t. These failures happen when you don’t follow the best practices, don’t have the right talent, or don’t pay attention to detail.
  1. Unescapable Failures: Happening mostly in complex situations, such failures involve unique sets of factors. One must create systems to spot unfavorable results and take corrective action before they destroys the company.
  1. Smart Failures: The best of all kinds, as they happen quickly and don’t waste lots of resources. The philosophy behind this trial-and-error approach is clear: If it works for you, do more of it. If it doesn’t, get back to planning.

We all fear to fail and experiencing it is much probable however; your response can make a difference to the outcome. There are things you can adapt to avoid failures in your business and work accordingly.

Make a Proper Plan:

An appropriate plan improves your chances to succeed and believe me, it doesn’t need to be perfect. People who aim for the completion, get more recognition than perfectionists.

Your core concentration should be towards what you want to achieve from your startup and making plans accordingly for your next step.

Try to make specific yet computable plans with a deadline. It prepares you for sensible execution. While a vague plan results into unexpected problems; an immeasurable plan is more likely to delay overall implementation.

Timelines give you better and faster results; plus motivate you to timely accomplish defined targets.

Do Not Hesitate To Try:

“Chances you don’t take are chances you miss.” Wayne Gretzky could not have said that in a better way. It is essential to take a step in order to move forward.

The first stair towards success is, identifying and confronting your fears. You might need to take the most basic steps towards you objectives.

Just think of the dream you were too scared to chase? No matter how many mistakes you make, of how slow you start, you are still ahead of everyone who is not trying. So, never miss an opportunity to try.

Do Not Give Up Too Soon:

Think how determined you are about pursuing your dreams. The vital secret of success is knowledge of conquering your doubts.

We often see people giving up on their passion too soon; yet all successful people we can think of, have a different story to share. We all know about Amitabh Bachchan; probably the best example of persistence today.

He failed as a Radio News Reader, lost several opportunities to others, became unsuccessful in business and still rose to be the star of the millennium because he did not quit.

Although he could have given up after few attempts but he decided to pursue his ambition to become the most popular name of the industry. There is no substitute for persistence. As long as you are actively trying, you have not failed yet.

Believe In Your Work:

If you don’t believe in what you do, you will definitely give up at some point, if not immediately. Look for reasons to believe that your dreams are achievable.

And if you can’t, there is no better time to quit than right now as all your efforts will be eventually wasted. The unconscious beliefs of your mind play a significant role into your performance.

You won’t possibly see a successful outcome; and then don’t push yourself further. Instead, look for the alternatives to reach your targets. Your growth depends on how you overcome your failures and rise above them.

Avoid Making Excuses:

People generally explain why they can’t, didn’t or shouldn’t do something. Honestly, making an excuse is another way of saying, “I have lost control”.

The irony is, you are the only person who can fully control your actions or decisions. Some people make excuses due to fear; others because of rejection and embarrassment.

Fear locks you in your comfort zone where nothing magical or incredible happens. If you can learn how to eliminate the traces of fear from your life; you will never need any excuse.

So next time you experience a setback, take it as a challenge and learn from it. Excuses only reduce your confidence and you won’t want that; especially when you still have a lot to show the world.

The Bottom Line:

Nobody gets into business to fail; yet both scholar researches and practical experience indicate that failures can often provide an entrepreneur with helpful opportunities to learn and benefit.

Your failures often create the base for success, so instead of fearing your failures, learn a way to fight them and move on.


 

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