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What to Do When You Fail in Business?

TechInAfrica – When you start a business, the first thing to remember is what to do if you fail. Thinking about failure, do not let it kill your motivation to develop your business. You can overcome the fear by believing in yourself and staying motivated.

However, sometimes it is hard to motivate yourself when you fail because it is a stressful situation and is normal for people to get depressed and down. But, what about this. Look at those successful people out there, such as Jack Ma, Bill Gates, Thomas Alfa Edison, Colonel Sanders, and many other more. Those people have failed a lot of time when they first started their business. A report says, there is only 20% of business make it in their first year.

Although the statistics seem to be scary enough for you to start a business and achieve your dream, do not let it take control of you. It is not the end even you fail a couple of times. But, it is when you decide to give up.

Apart from keeping yourself motivated, there are some other things you can do when you face failure in business. Here they are:

Just accept the fact

Denying the fact that you have failed will only make your broken heart last longer. The sooner you accept it, the sooner you learn from the mistakes you have made. When you learn from your mistakes, you will move on and set out a future plan. Failure help to build your character stronger, only if you take a proper step and are willing to learn from it.

Enjoy the process of healing yourself emotionally

Even if you have tried to accept the fact, does not necessarily mean you can move on quick. It will take time to heal yourself and get on track again. It may take weeks, months, or even years to recover. It is totally okay, just take your time. The failure will help you to learn and grow strong. Once you are ready, you will get stronger than you were. But one thing to remember, do not let yourself sunk in too deeply. Use the healing time to really contemplate yourself.

Keep the positive vibe

Keep the positive vibe in you even when you are in a depressing situation like failing at business. You can take a solo trip to somewhere you have always wanted to visit, watching your favorite and motivational movies, and spending times with families or positive friends. Keep yourself filled with positive and good vibes to improve your mood.

Involve yourself in physical activities

You can also involve yourself in physical activities like going to the gym, jogging, cycling, and other physical activities that help to release stress and increase endorphins. Many studies say that physical activities like exercising help to improve your mood. In addition, it can also be some kind of meditation to stay focus.

Decide what to do next

Do not get stuck in an uncomfortable and unpleasant situation like grieving. While taking your time to heal, why not thinking what you will do next. It may be hard at first, but you will get used to the situation. Thinking and planning your next move help you to get over your failure quicker.

Ask a mentor for help

Most businessmen have mentors. They need some good advice from the experts, people who have more experience than you do, and emotionally wise. It does not have to be business experts or professionals that you have to pay them for an advice. A mentor can be your former lecturer who is qualified to be your mentor, business owners, or successful entrepreneurs.

Step out of your comfort zone

Do not stay in a comfort zone. It may be safe and comfortable, but you will lose many chances of having new experiences. Try to step out of your safest zone and try new businesses and experiences. You can try a business you never tried before but still a cup of your tea. Do not fear failure, just try it out. You never know if it will bring success to you

Keep in mind that you will be successful

When you have decided to step out of your comfort zone, also keep in mind that you will be successful. Imagine what it is like to be successful and how much you want to be successful. The more you think about it, the more motivated you will feel. Moreover, you will find ways to achieve that goal.

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Written by Rinchi Marry

An article writing enthusiast and is currently working on various different types of article writing including technology, gadget tips & tricks, entertainment, culinary, health, and sports.

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