A lot of established entrepreneur are always preaching the failing forward concept. It is the greatest inspirational concept in time but also the hardest to apply.
Failure can cripple an individual’s mind-set, thus it is difficult to always adhere or relate to the concept of failing forward. They want to get up but financial strain sometimes keeps them down.
Here are some tips on how to get up when faced with failure.
IDENTIFY YOUR STRENGTHS
It is hard to find goodness in oneself when faced by negativity. But to have started a business is a big strength that should not be taken for granted. So when faced with failure go back to the day you decided to start your failed business and summon the same mental strength to get up and brush yourself off and start your business again.
Reflecting will allow you to see, that you have not really lost anything but rather have gained experience of what not to do when operating a business.
DRAFT AN EXECUTION PLAN
People always advise that you draw up a business plan. But business plan I just too ordinary and for someone who has been in the business already an execution plan. An execution plan is taking everything that you have learnt during your past failure.
So don’t draft a business plan because now you are in the level of execution because you know the basics through your failure.
USE PREVIOUS MISTAKES AS BUILDING GROUND AND PROSPER
The beauty about failure is that you know what to do and what not to do. All that knowledge that you gained in your failed venture must be used to build a strong better business.
Failure can serve as a strong building foundation, so instead of allowing it to cripple you use it as the foundation of your next venture and take its hardness and build a stronger company.