Any businessman will tell you that running a business is a cycle. Sure, there are ups but there are also downs.
Granted, the downs can get you down.
So the main question is, how does one persevere when it seems like nothing is working and all the things you’re trying do not seem to be working?
Today’s podcast attempts to work out this dilemma so if you find yourself in a similar boat, listen and see if Antonio Centeno’s and Tom Morkes’ tips can help you out!
First things first- let’s get the basics out of the way:
- When you’re failing in business you have to be very aware of the reality. There is no point in handling the issue with kid’s gloves and hoping that if you ignore the fact it will soon go away. Face the problem sooner and you will solve it sooner- before it is too late!
- It is not unusual for veterans to take business failure harder than others. After all veterans are used to having structure and training from the military. Veterans can also very quickly rise to the top with the help of a great time and abundant resources. Veterans are also used to having others thank them and acknowledge their efforts.
There is no guarantee that any of these factors will be present when running a business. This is the reality that veterans have to come to terms with.
Veterans have understand these realities so that they can handle failure-whether big or small- adequately. Once a veteran has a clear understanding of these basics, he will be able to deal with failure better.
A great thing to remember is also this: Success will never taste as sweet if you have not gone through the lowest of lows.
Think about it this way- you’ve had days when you’ve been outside working all day. When you finally get a chance to go in, sit down and have that ice cold beer or iced tea or water, you can bet it will taste amazing. There is no other drink in the world that probably compares to how good that drink tastes right at that moment.
That is because you’ve worked so hard for that drink. You’ve dedicated time, effort and sweat. You definitely deserve that drink!
Veterans should look at business the same way. It is definitely hard going at first and hard going at times but when you earn that first dollar, nothing will taste as sweet and feel as satisfying.
It also must be said that veterans have a distinct advantage when it comes to waiting for this moment of success. The hardships that we have endured teach us what things matter- what things are worth waiting and persevering for.
Despite all of these fighting words, many veterans will still experience and feel failure. So below are concrete things that one can do to persevere through it:
1. Live with the realization that you are not alone in your failure- Failure can be very isolating and many are convinced that they are going through the tough time alone.
While not all businessmen have gone through failure it is safe to assume that majority have. So come clean with your failure. Share your troubles with groups that you trust and can bond with. Doing so is actually therapeutic in more ways than one.
More than unburdening yourself with the load, telling others of your current struggles and failures may actually bring about a solution from others with fresher perspectives than yourself.
2. Get some fresh perspective- failure in business may seem like the end of the world but most veterans know that it really isn’t.
Many veterans have been to places like Afghanistan where their everyday reality is far, far worse than what the average American experiences
If you choose to remember experiences like these you will soon see that while the personal failure that you are going through seems dire it is really not the most horrible of situations and you can get out of it.
3. Take a look at what you are focusing on- Let’s assume that at your current situation you are already putting in 12 to 14 hours a day into your business and yet you are still failing. Let us tell you that putting in 16 hours a day will not solve the problem.
Instead, why not shift your focus on another aspect. Take a look at yourself or your family. The shift in focus could be very refreshing and could help regain balance.
4. It may also be helpful to look at the best practices of others- There are numerous books, apps and road maps on how to run businesses given the challenges of today. Most if not all of these are available at one’s disposal.
When you’re at a loss of what to do, it can help to look at the path that others have taken to success. What land mines did they encounter and how did they get out of that?
You may just find the answers that you need by taking a closer look at the journey of those that have gone before you.
That just about wraps up what you should do when you feel like you’re failing in business. We hope this has been helpful for you.
If you love reading about these sorts of topics, do continue to check out these blog posts and continue to tune in on High Speed Low Drag.
Until next time!
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