Building a business or making advances in any aspect of your career comes with setbacks. Failure is inevitable in any risky venture, but it’s also a necessary evil that can help you learn, grow, and fine tune your strategy for long-lasting success in the future. Overcoming failure is deeply rooted in your mindset and how you react to obstacles that may or may not have been predicted. Take a look at Walt Disney. He was fired from his job at the Kansas City Star, declared bankruptcy, and was rejected over 300 times for his Disneyland concept. Rather than throw in the towel, he persisted, and now heads one of the largest media companies in the world.
We can learn a lot from successful entrepreneurs like Disney. And in order to succeed in whatever your career aspirations may be, it’s important to grow from failed efforts. Below are various ways in which to do so:
Acknowledge and accept the failure. Denial will only set you back further. Acknowledge, accept, and move on. Write down things you think went wrong and ways that you can avoid those obstacles in the future. Then, refer to those notes when you face similar roadblocks down the line.
Map out your future. Before diving headfirst into your business, devise a clear plan and road map. Think ahead, and determine what outcomes you’d like your business to have and make sure your goals are workable and achievable.
Have a positive mindset. If you don’t believe in yourself, no one else will. As cliche as that advice sounds, it couldn’t ring more true when faced with doubt and failure. It’s normal for your self-esteem to take a blow when things go awry, but never quit. Turn to family and friends, reassess the situation, and devise a new plan to move forward.
Seek help for solutions. Regardless of how high-level your position may be, an advisor or mentor is always of importance. Not only can they guide you, you can learn from their knowledge or experience, and find new solutions that you may not have thought of prior.
Focus on things that build your energy back up. Whether this be exercising, reading, cooking, or any other hobby, look for things that make you feel energized and rejuvenated. You need an open, healthy mind to rationally think through fears and failures. It’s okay to take a break and reset your mind before diving back in.
Remember, failure is not unique to you. We all face failures and setbacks within our business journey. Did you know J.K. Rowling was rejected from 12 major publishing houses for Harry Potter and the Sorcerer’s Stone? She went on to become the first author to become a billionaire through book writing. The infographic below details 12 famous creative entrepreneurs who faced and overcame extreme hardships in life before striking it big. Trust in the process, find a solution, and learn from some of the below examples to find the necessary inspiration to persevere and ultimately, reach your own business goals.
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