Reflections of a BizDrivenLife

A Technology Entrepreneur Shares his tips on how to win in Business… and in Life!

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When Failure Strikes

June 15th, 2008 by Administrator
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I remember the book When Bad Things Happen to Good People.

I try to remember all the reasons why.

But there are just too many things we cannot control.  And after so many years in the business, one things is sure - you can do all the right things, press the right buttons, and you would still fail…

What do you do when failure strikes?

1.  Failure can be, and should be made temporary.   

Nobody can be consistently successful.  It was even said that Warren Buffet was down 50% or more three times in his career.  You have to take the beating and stand up again.

2. Don’t let the Doubters put you down. 

There are people who seemed to be as lost as anybody else, and only function is to be an amplifier.  That means they are the one who don’t know whether what you are doing is right or wrong - and they only judge you by the results. In short, they won’t know how you manage your business.  You can be managing it badly, and doing the wrong things, and if you are still coming out right, they will pat you in the back. YOu can be managing it well, and doing all the right things, but if you come out wrong, they will be the first to plant doubtful seeds and attack you.

don’t let these detractors put you down.

3. Learn from your Mistakes 

Before embarking on your ‘comeback’, try to get an overview of what happened.  There are two scenarios - and how you view that scenario will determine whether you can make it next time.

If you think you are doing it right, and it was the circumstance that cause things to go wrong, then you should have the focus to keep doing what you did.  However, if you understand you may have done something better, then you should immediately be willing to change.

This is a very hard call to make — many people don’t learn from mistakes, and keep doing the same things wrong.  On the other hand, many people learn the wrong lessons - and it is not to do anything else again.

 

4. Visualize, Visualize!  

The one thing that can keep you on track is jus tot keep thinking what happens when you win!  It is said that many winners visualize how they make the shot that wins the game, or keep having the picture on their mind what it would be when they make it….  It helps keep the dream alive.

 

5. Seek a Higher Purpose!  

Whatever it is, life is more than just making another million bucks, or buying the next new car.

You are more likely to succeed, be less disappointed, and also feel more fulfillment if you can combine financial objectives with also an impact on society.  Make sure your goals are not too overly selfish, or egoistic.  

There are infinitely many more things than just that!  Dont’ succeed in business and be a failure in life. 

 

 

 

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