How to Bounce Back from your Startup Failure

How to Bounce Back from your Startup Failure

November 11, 2017
Startup Talky

How to Bounce Back from your Startup Failure

Bounce Back from your Startup Failure-Failure is the stepping stone to success. Entrepreneurship is full of bad experiences but people can learn great lessons from that failure. If one wants to succeed in life they must be adept at
facing many failures. These failures act as experiences to succeed in life. At any situation of
failure, people must learn how to keep calm and think positively. Panic doesn’t help in a
situation like this, relaxation and progressive thinking will prove fruitful. Every successful person
has a history of such failures which they have successfully overcome. Here are some tips to
Bounce Back from your Startup Failure:

Share your feelings

Don’t think that life ends after a failure. Don’t spend time in criticizing but feel proud of the
knowledge gained from that failure. Stay in the company of your favourite groups and enjoy the
developing stage. Keep in touch with friends, family and relatives as that would bring happiness
in the time of failure. Don’t be afraid of failure and try to find a mentor or a group of
experienced people and prepare for the next attempt. There are many people who changed
their failure to success. Seek guidance and mental support from mentors and entrepreneurs
who have already walked on that path.

Find different sources of income to recover the failure

Every failure will lead to loss of money. So, prepare to gain money from various sources.
Contact mentors and entrepreneurs who give the suggestions about income. Do not get
depressed because money can come anytime and then go anytime. So, set the mind towards
knowledge. Check how long the savings will last and try to maximize that time. It will be great if
one already has a secondary source of income or they can spend some time to create a source
of income by freelance or consulting work.

Prepare and plan with consciousness

After failure, a lot of things are learnt. Use these lessons to plan and prioritize how to get back
from that failure. Make a rough survival plan. Startup founders are very comfortable with
planning and execution. Appoint suitable founders and workers in the right place and work day
and night. Hard work always pays off, so, work until success is found. After the failure of the
startup, create one excel sheet and write down the skills in one column and potential income
from those skills in the second column. By doing this simple exercise, one can get a lot of clarity
to run the business for at least six months.

Wait for right time to get right opportunities

Don’t take any important decision at the time of failure, because the mind is depressed at such
a time. Wait for some time and plan then plan for the future. Take whatever time is required to
set the mind but once it is set do not go back to thinking about the failure. Great opportunities
do not strike at all the times. So, wait for the opportunity and grab it to improve skills and
success. One should rather wait for several months to get the right work than joining the wrong
work. Take ample time to make a decision that can change the whole direction of life.

Action speaks louder than words

Not only words, but actions should also be kept in mind after a failure. The right attitude is
important during times of depression. Take the right action with the right attitude. Say no to
poor opportunities until better opportunities come.

Work to the best of abilities to garner success and lost popularity. Aim high and let failures be
stepping stones to success.

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