Every entrepreneur’s heard the stat about how of start ups fail. Big deal. So what? It’s not the end of the road. It’s what happens after you fail that counts. That’s the really exciting part. Read on to find out how to really embrace failure – and bounce back harder, better and stronger afterwards!
Success is as easy as getting back on the horse
Failure can cost you. Big time. Rachel Lowe – creator of the hugely popular board games – knows just how hard it can hit you in the guts. Despite making it on top, when things went bad, they went really bad – and she found herself bankrupt and seriously ill. Not a good place to be.
But picking herself back up again and co-founding a new brand – aptly named – Lowe found that you don’t have to be making millions to be successful again. Simply getting back up and having another go is enough to put the ghost of past failures behind you.
Use it as a chance to learn
First – go watch short but sweet video featuring Johnny Earle, CEO of – who admits that he thrives off of screwing up. Sounds nuts? It actually makes total sense – because when things go wrong, it gives you the perfect chance to take a closer look and figure out how to make them better. Without failing – you’ll never get a chance to spot those great opportunities and have those amazing ideas that only come when you’ve hit rock bottom. So don’t be afraid to take on new challenges and try out crazy ideas in case they don’t work – throw yourself in and see what happens!
Stay confident – and realistic
It’s really important to be confident – especially at a time when your self-belief is taking a bit of a thrashing. But it’s also really important to be realistic too. You don’t bounce back from failure simply by sticking on a sparkly rainbow plaster and wishing it all away. You come back by giving your mistakes a cold, hard and realistic look in the eye – and learning where things went wrong. That might mean that next time, you take a little more caution before you make a decision. You make sure that you’ve got the best team of people behind you. You get advice when you need it. You do everything you can to use each failure as a learning opportunity – then you put those lessons into action.
Don’t regret a thing
Those past mistakes and failures can leave a really bad taste in your mouth. Even after you think you’ve moved on – when you find yourself looking back, you’re inwardly cringing. Well if that sounds like you – don’t. Don’t waste energy on regretting things that didn’t work out. Instead – look for the positive lesson to take away from it. Need some inspiration? You can’t get better than – who’s seen more failures in his entrepreneurial life than most of us have seen successes! His launch of Virgin Cola was a major dud. Not only that – it got the other biggest competitor out there on their back in a big way. But even though the venture sucked, Branson still doesn’t regret it. Instead, it was an opportunity to learn about his own company – lessons he could put into action when he had his next great idea.
So are you ready to fail? Are you ready to jump off into the void – and see what you might discover?