As a leader, in a powerful position, you are always set to fail. When you put yourself out there, you put yourself at risk. Risks sometimes pay off, but sometimes they do not. Every business owner has experienced some struggle when building their brand and company, thus you are not alone in fearing failure.
Life has a funny way of setting you back, whether it be through uncontrollable impacts from nature, people letting you down or technological failures. However, they are never the last destination for you or your business. Facing setbacks is part of running a business and problems are likely to happen in your career or personal life, but here are some tips that can help you bounce back.
Setbacks happen and most of the time they’re out of your control
It’s all about psychology. You have to look at the positives and find the good in the bad. Say your new business model, that you put time, effort and money into, didn’t work out – this doesn’t mean complete failure. Now you must work on an even better model, that will be far more beneficial than the previous. If at first you don’t succeed, try, try, try again!
A good way to positively turn the situation around is by thinking about all the things you learnt from the setback and what skills you acquired. Rebounding from failure and making a comeback is a tough skill to have, but a valuable one for those in important positions where setbacks can happen more frequently.
Most importantly, you should know that it isn’t over. Take time to think, rest and restore. It’s essential to know how the error occurred and to identify any factors that caused it. Then, you can start preparing for a comeback. Make a step-by-step guide that’ll make it easier to see your return to the top.
Remember this isn’t the end
People often think that failure is the end chapter and that they must close the book on that venture and move onto something different. However, retrying the process with a fresh mind, new perspective and greater insight is the perfect recipe to turn setbacks into success stories!
It could be time to reinvent yourself and do things you wanted to try before. New office design ideas? It’s time to create them! An overhaul on your business’s aims? Now is your chance. A comeback is a way to step out of your comfort zone.
Get back on that horse
Second chances can sometimes be better. People have a chance to reflect on the previous situation, meaning that the second time around, kinks can be ironed out and negative outcomes could potentially be avoided. Identify what you can and can’t control to put the situation in perspective and keep in mind that people didn’t get where they are because they sat back in comfort.
See the journey, not the outcome
Stop thinking about it. It’s in the past and should be left there. It’s important to remember that what has happened cannot be changed. If you continue to fret that it could happen again, you’ll never regain your original potential. Remember a lot of journeys have different endings and roads can always be revisited and new pathways can be found.