What do you do when you’ve failed at something?
How do you react when your vision has turned south?
What do you tell yourself?
For most people those questions are sure to get some sad and depressing answers BUT for an entrepreneur the answer will be immediate and simple…
Creating a successful Cash Machine is not an exact science with predictable outcomes. There’s a ton of trial and error that goes on when diving into owning a business, big or small. There are times when things look great on paper and sound good in conversation but fail miserably in the marketplace. It happens. Not every successful entrepreneur hits the ball out of the park the first time around.
What makes an entrepreneur an entrepreneur is not the amount of cash in their pocket (although that’s a good indicator). It’s their resilience and ability to figure out, before it’s too late, what’s working and what’s not. This is a cornerstone in entrepreneurialism. You must be able to recognize when something is not going to fly.
If you have a Cash Machine that is headed south, you need to dissect each component and re-examine your process. Look at things from all angles and different perspectives. It might just be a matter of making adjustments to your plan. If you find a fatal flaw, cut your losses and ask yourself “What’s next?” Believe me there’s always something next.
If you’re finding yourself in a Cash Machine that isn’t moving forward, this is a learning opportunity. This is your chance to study the outcome of the decisions and choices you made. Life’s biggest lessons are learned this way.
Entrepreneurs know that the failure of a business means new opportunity and it’s not something to take personally. It’s business. They ask themselves “What’s next? What am I going to do to create, generate, and expand?”
True entrepreneurs don’t allow setbacks to distract them from the ultimate goal of success. It’s natural to be emotional when something doesn’t work out, just remember this is only a fork in the road. There is another path ahead if you just keep moving.
Here are some things you can do if you have or are facing a meltdown…
1. Dig in and find out why!
2. Learn from your mistakes. Write them down and commit them to memory.
3. Don’t play the blame game. It’s done.
4. Be confident and give yourself some credit. You made a go of it!
5. Ask yourself, “WHAT’S NEXT?”
To be a true entrepreneur means to be tenacious, resilient, and open. As cliché as it sounds, the old adage is true, “When one door closes, another opens.” Pick up the pieces and get back on the path. The journey of entrepreneurialism is a windy road. You’ve got to take the good with the bad. If you’re up for it, it will be the ride of your life!