It is not uncommon for a start up to fail. In fact, this happens quite often and mainly almost every successful entrepreneur I know of has overcome at least one failed entrepreneurship ventures. It all starts very well… you have a dazzling idea… something others have never thought of before, you do your research and you think quite a lot about it, you can really see it in front of you. Some of us, enthusiastic souls feel like sharing about it with others, but the feedback is many times not a pleasant one. Others start saying about everything that can go wrong, everything that will not work, all the economical downfalls we can live. We do not really see what they mean… do you? Nah… because we see the dream and it’s in front of our eyes, we actually see it happening. All these words others say sound meaningless. To speak in truth we are committed to our own dream, many of us do not even understand what the others are saying and some of us may think they are simply trying to put us down. This might be true in some cases but not in many. Some of these people really do see some aspects of our idea that we do not see, simply because we are so in love with it, that we are a little blind to what could go wrong. We decide to do it. And so we do…
They say success is 80% inspiration and 20% perspiration, well we have the inspiration, so what could go wrong? It took me a long time and one failed start up to have the answer to this question. It took me a lot of frustration and thoughtful awareness to be able to realize what really went wrong.
When your start up fails, you feel as a failure. It happens to all of us. Something we loved so much, failed, so how are we going to not feel for it? Our thoughts and emotions revolve about our questions about the crash of that dream and how can we manage the confusion we find ourselves in? I have collected several points that will help you in this process… Keep reading…
- You are not a failure, your startup was
Perhaps the hardest thing in this whole process is to really not feel as a failure, because deep inside we do. We have invested time, effort, skills, money, we have left many things behind for a dream, for a well defined goal, we have managed to overcome our own doubts and fears so how could it go wrong? Perhaps the definition of it. we must realize, dreamers of this world, that businesses need reliable systems to maintain themselves alive. Other than that, if a business doesn’t make money is not really a business. So, the wakeup call is, if you have never worked with money and sales before, your brilliant ideas won’t manifest properly. You need to find ways of learning how to make money with your idea otherwise you cannot say you have a business running.
- Understand that you cannot do it all by yourself
Team work makes the dream work. In order to have a big dream working you must have a reliable team you trust in working for you. Yes, yes, we already know you can do it all, but that’s not the point… the point is … TIME. Despite the fact that you want to do everything by yourself you must know that you need time to do everything. And you need to rest, and you also need to come up with ideas and proper procedures. So, a team is the best ally. If you get a team of experts doing what they love doing you will succeed much easier. And faster.
- Life doesn’t end here. Learn from it.
It was your business, it was your idea. You may hire experts to find out what went wrong but in reality only you will know for sure. Why? Because you were the one doing it, managing it and only you know for real about your moods, doubts, inner fears and all others. so, take some time and reassess the whole trajectory. Could you have done it better? Could you have taken a step back at specific points? Could you have thought a little more about a launch instead of rushing into it? Could you have researched about a specific product or asked someone for an advice? These are questions that will help you regain clarity about where your startup was weak. Your honest approach and sincere answers to these questions will bring you immense clarity and quite amusingly they will make you see your startup failure as a success. I know it sounds cliché, but it is not. Your failure was a million dollar lesson that if well applied will bring you many rewards in the future
- Emotional learning and stability
Perhaps the one the blessings in disguise that your startup failure brought you is the emotional lessons that you can take from it. Ever since you realized that your dream was not going to make it, you have been through an emotional growth that few people know of. First the awareness that something you have fought for, is not going to make it, second the willingness that it was your responsibility to make it work. The truth is that it is and it was. And it is now your responsibility to rise above it and to start a new path. Then the strength it brings you to be honest about your fall and frustration, about what you feel and the way you see yourself. You may see yourself as a failure but in truth it is only you who sees yourself like that. In truth others may as well be understanding and proud of you for trying it, however your own emotions make you take personally what you do not have to. Despite you seeing it or not, these lessons are million dollars lessons that will be the foundation of your future success… so see it for it is… an opportunity to grow to expand and to do better next time around.
- Start anew
perhaps those who are not entrepreneurs will not understand this, but if you are an entrepreneur who has launched your first start up you probably can’t help it but trying it again. Why? Because it is a part of us. We want to contribute to the world in our own way, and also be successful in our own way, so yes… the willingness to do it again is very understandable. The most important thing to realize is that to start fresh and anew you should not bring any emotional past baggage. Start really from a clean canvas. Bring the lessons you have learned in your past and start a new idea, project or business. Think about it. Feel about it. Make it be about you, yourself, your gift and craft. You are stronger than before and the truth is… your probability of success is now much greater than before, because you will not make the same mistakes as before. So, the fear is less, the confidence is more. Start again… this time much wiser and confident because this time you will succeed.