Thursday, 9 August 2012

Rebound From Failure

Failure of any kind can be a setback for entrepreneurs, but it doesn't have to spell disaster. When faced with any setback, here are five rules that might helped you.

Don't pretend it never happened.

People are often so anxious to avoid the stigma of failure that they refuse to admit what happened. Denial usually results in a host of other problems, including internal stress and delaying any effective remedy. The late Dale Carnegie, a well-regarded lecturer and author of the bestseller "How to Win Friends and Influence People," said that when you're quick to admit that you screwed up, your peers will stop holding your feet to the fire and actually begin to comfort you.

Avoid making excuses.

Some people wiggle past the truth by admitting to a problem they sugarcoat in excuses. Don't confuse a failed goal for a failed person, sometimes people take the opposite approach and blame themselves for any and every failure, creating a pattern of negative self-reinforcement. Remember, you are not alone, people fail to reach goals all the time - everyone's bound to stumble every once in a while.
Focus on the lessons learned.

The only way to survive such a world-class level of failure is to focus on the future. Not many people can say they've literally lost lots and chalk it up to "business lessons."

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