Accepting fear isn’t easy. Overcoming failure is even harder. As an entrepreneur, you are often told that you have to approach your business in a fearless manner or you will never see results. Quite frankly, if you treat your company as if it were infallible, you will indeed fail. Experiencing failure is genuine part of being an entrepreneur. No one gets it right on the first try.
As Ammon Cunningham, an entrepreneurial specialist, will explain, failure is a natural part of doing anything. However, with these few tips, overcoming your fear of failure can become a little easier as your business grows.
When it comes to managing failure within your business, try to use it as an advantage. Failure can in fact be your friend. Failure comes with trying and often we are inhibited by our fear of failing, so we don’t try. As an entrepreneur, you have to try to shake this mindset. Fearing failure leaves a black ominous cloud of “what if” hanging over your head that will prevent you from further growing your business down the line. Curiosity is a key part to being an entrepreneur, so get out there and try!
We all have different definitions of success yet often subscribe to the same definition of failure. Failure is not a unilateral construct. Redefine what it means to fail. How you monitor your success and failures in the value of your company will help you understand what exactly has gone wrong and when you might really be doing ok after all.
Most importantly, understand that failing and quitting are not the same thing. The idea that failing is connected to quitting has long been a misconstrued idea that has been planted into the minds of entrepreneurs and longtime professionals. If you find you have exhausted all available options in making your business work or your product sell and realize that there is genuinely nothing you can do to go further, then you have not failed. You are a making a wise business move to not lose further profits. Maybe you can take a step back to re-strategize and approach your product from a different angle to see different results. However, backing out is not quitting. Pouring yourself, your energy, and your time into your dream is not quitting. You have made far more strides than those who have never once tried.
As Thomas Edison once said, “I have not failed. I have just found 1000 ways that won’t work”. Failure is not the opposite of success but instead it is a stepping stone to achieve better results. For more information and tips on how to succeed as an entrepreneur, continue to check back with tips from Ammon Cunningham.