Before you start your own business, you should know that there's a chance you may fail. Starting a new business and growing it, you will be taking risk after risk along the way.
Confucius once said:
"Our greatest glory is not in never failing, but in rising every time we fall."
The temptation to quit will be greatest just before you are about to succeed. The entrepreneur who is on the verge of dismal failure grinds it out and builds a successful business. Setbacks happen to everyone. The challenge of bouncing back from a setback has much to do with how long you wait between the experience and the time you truly put your disappointment behind you.
The good news is that resilience can be learned. Here are 5 ways to build it :
1. Make Connections. Networking doesn't just make good business sense, it makes psychological sense. The support goes both ways-helping others, can benefit the helper as well. By forming a network of professional and personal resources, you can tap into a vast pool of advice or end up with many friends who will lend a sympathetic ear when times get tough. Even for home based business, linking your website with others can be a form of networking.
2. Accept Change. People evolve and businesses do too. While change can be painful, accepting that your business will change to meet new circumstances-whether it is an updated business plan or a new niche of customers served. In today's business and economic climate, you must have the ability to be flexible.
3. Take Action. Act on adverse situations as much as you can. Take decisive action, rather than detaching yourself completely from problems and stresses and wishing they would just go away. Problem solving is an active and ongoing process that can increase resilience considerably. Like what a good friend who runs his own camera website, always say to me : "Every Drop Makes An Ocean" and he is right...if we address any huge problem a step at a time...the problem(ocean) will slowly be reduced to a "lake" . It's all about taking the first step and moving with the momentum...one problem at a time.
4. Look for opportunities. Mainly for self-discovery..Small business owners (home based business owners included) can focus so heavily on changes in the market that they forget that they are also evolving as entrepreneurs with each challenge they meet. People often learn something about themselves and may find that they have grown as a result of their struggles.
5. Positive Views. Avoid seeing crises as unsolvable problems. Whether your business had to downsize or change markets to accommodate the economy, your focus should be on the big picture.
Fear of failure and fear of the unknown are always defeated by faith. Have faith in yourself and in the process of change, it will reveal your own inner core of steel. You reap what you sow. But always remember that reaping only comes after sowing and it takes time.
All the best on your trip to a successful business and making INFINITE MONEY along the way!
The challenge of bouncing back from a setback has much to do with how long you wait between the experience and the time you truly put your disappointment behind you
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