Bounce Back from Failure

Plan Now to Bounce Back from Failure

Contributor Tamar Cerafici gives a little tip on dealing with failure
Contributor Tamar Cerafici gives a little tip on dealing with failure

By Contributor, Tamar Cerafici, Esq.

Consultant and Lawyer

 

The very nature of running your own business requires you to fail. Why? Because you have to run risks. When you risk you have a 50/50 chance of failing. Actually, when you run your own business you can expect a 60/40 chance of failing completely. Six out of ten new business ventures will do that. The close your doors-declare bankruptcy-lay off everybody-hide the sharp knives kind of failing. The kind of spectacular flaming deadly failure Icarus had when he flew too close to the sun.

That doesn’t count all the tiny failures inherent in doing business. So, given that you’re statistically more likely to fail than succeed, why not plan your response now? Then, practice failing in all sorts of little ways before you really screw up. You’ll definitely feel more in control.

Action Plan:

Retreat: Step back & take stock of your situation.

Reframe: Others might see your abysmal failure as a success in some way.

Reboot: Take what you learned and try again but make new mistakes. Repeating the old ones is just insane.

About the author

Marketing and media content development for diverse markets that enhances the image of women of color. To present women of diverse backgrounds and cultures in a positive and more realistic light.

Comments

  1. Thanks for reposting, Ola! I really needed that blast from the past this morning. The great thing about failure is that it’s never really failure. It’s a greater opportunity to learn and grow! Rebooting is a fact of life: my neighbor the dairy farmer lost about 40% of his feed corn crop to the neighborhood bear last fall. He’d already figured out that bears don’t like Bermuda grass and cows do. So he took out half of our corn field and is putting it into grass, rebooting his production strategy and probably creating a more marketable version of his milk, given the popularity of milk from grass-fed cows.

    1. Thanks of the shout out, LeAnn! You are an inspiration to me. I have great women in my life who will always be there for me. That’s why I feel like I can fall on my face. I just need to have more faith in myself!

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