What is your view on setbacks, challenges or even failure?
Do you live your life and operate your business trying to avoid setbacks or challenges?
For many entrepreneurs their view of hitting a challenge in their market, product, customer reach or financial situation is akin to falling into a booby trap – but is that REALLY what setbacks or challenges mean to your business?
Not quite, especially if you have hit challenges in your life or business OR you study the top of the top entrepreneurs and hear their take on what challenges and setbacks mean to their business success.
What you will find is that challenges, setback and failures INSPIRE successful entrepreneurs, they don’t stop them (or even slow them down)
This is why many entrepreneurs have come from troubled pasts, they have learned that what doesn’t kill them makes them stronger.
They realize that setbacks actually mean:
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They get instant feedback on what does not work and almost always direct insight into how to pivot into what will work better
- They get the chance to show people their passion and purpose and double down on the impression they make on their customers, partners and competitors in their marketplace
- They realize that knowing one thing that does NOT work gets them one step closer to finding what DOES work madly
- They know that being active and participating with their market (regardless of the result) puts them in the top 2% of those who try to do business in their market
- They gain incredible self confidence and become empowered as they realize they can handle anything and begin to see that their path to success is within reach (whereas everyone else continues to operate based on fear)
Here is a great example – Barbara Corcoran (of Shark Tank) is profiled in this Entrepreneur profile where we learn that Barbara is motivated by failure and shows many examples in her life where setbacks fueled her spirit, energy and passion to the point that she has achieved amazing success in the business world.
What does failure or setbacks do to you?
Do you go too far in trying to avoid setbacks in your business – to the point where you are missing out on key steps and learning opportunities?
Leave a comment and let us know.
