No one has the perfect business strategy for starting a business without encountering a certain number of challenges and outright failures.
If you’re new to being an entrepreneur (or have even been one for years) know that there are always going to be challenges that arise, mistakes that you’ll make and areas in which you will even FAIL.
YUP, I said it.
You might fail. And, if you do, then what?
What can you do to handle and rise above you business mistakes and failures?
Here are 7 helpful tips to keep you moving forward in your business, even when you feel stuck in a box.
Tip #1: Have a Plan
First and foremost – have a plan.
Before you decide to leap into business for yourself, get really clear on what you are creating. What is the service or product that you’ll be offering?
And most importantly, for the sake of what? What’s your compelling WHY that is driving you into business for yourself in the first place? What difference do you want your offering to make in the world?
Write out your goals with weekly, monthly and yearly action plans.
Review them consistently and adjust as necessary.
Tip #2: Realize that Failure Is Always an Option
Have you included failure as an option in your business strategy?
While I know you’re not setting out to fail, it’s always best to plan for the unforeseen and unpredictable external actions that may affect your strategies.
Weather, economic downturn, an unexpected, yet serious illness: all of these are issues that could affect your business strategy and cause it to fail.
If you recognize that failure is an option, you can be more prepared to overcome challenges and mistakes when they happen.
More importantly, you’ll also not be resisting against the fear of failure. Remember, “What you resist, persists!” By embracing the possibility of failure, you’ll be able to more easily deal with it, if and when it shows up.
Tip #3: Be Persistent
Thomas Edison “failed” to invent a suitable and practical light bulb thousands of times.
When asked if he felt like a failure and should give up, Edison said, “Young man, why would I feel like a failure? And why would I ever give up? I now know definitively over 9,000 ways that an electric light bulb will not work. Success is almost in my grasp.”
Would you consider Edison a success? Absolutely! His persistent efforts paid off and created a timeless, universal product used in all households and businesses.
Don’t think that failure is a reason to give up.
Be persistent and keep learning.
Who knows what brilliant ideas are waiting just past your perceived “failure.”
Tip #4: Review and Learn
Like Thomas Edison, you can learn what “not” to do in the future by reviewing your strategies that didn’t work. It is always helpful to keep a log of your business strategies so you know what actions you took along the way.
Managing challenges means reviewing steps, then course correcting along the way to reach the goals you’ve set for yourself and your business.
Tip #5: Ask for Help
I’ve found out the hard way that I don’t know what I don’t know until I knew it…
As a business owner, be curious, ask lots of questions and most importantly,
Ask for help when you need it. (yes, you can – it’s ok)
Never be too proud to ask for help when managing challenges.
Find a mentor. Hire a consultant.
Those who have gone before you and figured things out are wise people for you to tap into so you don’t spin in circles reinventing the wheel.
Tip #6: Who’s on Your Team?
You are a Genius. This I know.
We all have our Genius Zone that we operate most effectively and easily from. This also means that there are places that are outside of our Genius zone, where we operate less then optimally. Areas that are not in your wheelhouse, areas that you resist, procrastinate doing or just “forget” to do.
You know what I’m talking about.
First of all, figure out what your Genius Zone is – this can help: The Talent Dynamics Profile.
Then, get the help and support you need in the other areas of your business that still need to be done but by someone else other than you.
For example: if you’re great at sales but not good at managing your numbers, hire a bookkeeper. You’ll be using your energy and expertise most efficiently and effortlessly, and so will they for maximum results!
Tip #7: Review Your Successes
When you’ve hit the wall in your business a few times, it’s easy to get discouraged and dismayed.
Here’s one way to pull yourself out of the box: take some time to review your successes.
Remind yourself of what parts of your business that you have done right, made a positive impact, or served others in a good way.
What business challenges did you overcome previously? Did you outgrow your first office and are now occupying double the space? Did you form a successful joint venture with another business owner for a specific event?
Look back at what you have accomplished, have gratitude for how far you’ve come and how much you’ve learned along the way, and find your courage to keep going!
You can do this even if it means overcoming a few more mistakes, foibles and failures.
Remember, failure is always an option.
But then so is SUCCESS!
Ask for help.
And keep in mind that you have succeeded in the past and will do so again.
Next time you’re feeling trapped in the box and you can’t find your way out, take a moment to step back, breathe and remember why you got into your business to begin with. Review your plan and previous successes, and map your path forward.
And if you need some extra help or guidance, I’ve got a boat load of free resources that you can tap into under the Free Stuff tab on my website!
To Your Inevitable Success!
Michele Molitor, CPCC, PCC, RTT
Your Executive Confidence Coach & Rapid Rewire Expert
As the founder and CEO of Nectar Consulting, Inc., Michele works with executives and entrepreneurs worldwide bringing over 25 years of experience, intuitive insights and strategic business savvy to your success.
Her unique inside-out approach is a culmination of years of study and practice in the realms of emotional intelligence, neuroscience, physics, psychology, sales, marketing and spiritual teachings to help catalyze shifts in your thinking, eliminate mental/emotional blocks and rewire your brain for greater confidence and success. All to enhance your capacity as a leader, build high performing teams and exponentially increase bottom line results. www.NectarConsulting.com
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