Entrepreneurs seldom get it right the first time. But having the ability to keep moving by making adjustments and keeping a healthy mindset improves the odds of success.
My dad invented all kinds of things and he ended up producing one of his ideas, selling it all over the world. Inspired by his guts I tried to take over Hallmark with my greeting card business some years ago.
It was a failure. But instead of bore you with the details of it, I’d much rather share some tips I have picked up over the years about how to move on:
Treat a failure as a learning experience
Without having failed at least once, few entrepreneurs would know the way to success.
Stay loyal to yourself
Instead of taking it personally, use failure to strengthen your commitment. See it as something that happened, not who you are.
Take a step back
Evaluate your business plan and make necessary adjustments based on feedback and results. Sometimes moving past a large obstacle means going around it and not necessarily over it.
Take care of yourself
Set regular times during the week to relax, sosialise and exercise.
Don’t become discouraged
Successful people see failure different from the majority. Copy their attitude of never giving up. Remember: “Nothing ventured, nothing gained.”
It was a recruitment ad targeting people with IT experience. I had great hopes for it to win a 'proper' creative award but all it got was a nomination. Looking back I don't think it was a bad achievement at all, but at the time I treated it as a failure.
Thank goodness for the ability to put things into perspective;-)
Making a weakness less of a weakness is time consuming. You can not be good at everything, so why not play to your strengths instead?
A strength is something you are great (not just good) at. It is a mixture of your talents, knowledge and skills. When you are using your strengths, you feel that time ‘just flies’ because you are so engrossed in what you are doing. It excites you and when you’re done, you will most likely feel more energetic than when you started.
If the majority of your job involves activities that play to your strengths, you are more likely to perform better, stay motivated and, because you’re enjoying what you’re doing, you’re a joy to work with.
So what’s your strengths? A lot of people do not know the answer to this question and what seems like a strength to one person, might not necessarily seem that useful to others. I know my strengths are graphic design of logo identities and marketing collateral. My mission going forward is to focus on these. If you are uncertain what your strengths are there is an exercise you can do. It has been developed by the Harvard Business Review and it is called the Reflected Best Self (RBS) exercise. You can find a link to it here: how-to-play-to-your-strengths
Here is one paragraph from this website that inspired me:
It is a paradox of human psychology that while people remember criticism, they respond to praise. The former makes them defensive and therefore unlikely to change, while the latter produces confidence and the desire to perform better. Managers who build up their strengths can reach their highest potential. This positive approach does not pretend to ignore or deny the problems that traditional feedback mechanisms identify. Rather, it offers a separate and unique feedback experience that counterbalances negative input. It allows managers to tap into strengths they may or may not be aware of and so contribute more to their organizations.
Another helpful website is the brilliant wikiHow. Click on this link to learn how to identify both your strengths and your weaknesses: Identify-Your-Strengths-and-Weaknesses
The theory behind strengths is based on positive psychology. Everyone has strengths they are born with. High achievers may not have more strengths than the average individual, but they have learned to utilize them better.
So can you!
Focus on developing your strengths by doing more of what you are great at and you will not only enjoy it more, you will most likely perform better too.