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Help! I’ve Failed and Can’t Get up: 3 Ways to Recover from a Business Setback

Every entrepreneur has the capability (and the choice) to get back up and recover from a business setback and here’s how.

Here’s a secret … but can you keep it?

Every successful entrepreneur has failed at some point in business. But failure is an event, not a person. In fact, to succeed in business you will make mistakes – merely data points.  Failure is only an opportunity to begin again more intelligently (Einstein).

But some failures come as crushing blows. They can temporarily knock the wind out of your business and leave you feeling helpless and out of control.

However, let’s be clear – never listen to any ill-considered, half-baked “expert” that tells you “You can’t recover from a setback or failure.” The reality is – the choice is yours. You can lie there, inevitably for years … or you can pick yourself up, dust your shoulders off and break records.

Every entrepreneur has the capability (and the choice) to get back up and recover from a business setback and here’s how:

1. Complete a post analysis.

No one wants to look back. In fact, I don’t recommend looking backwards unless you plan to go that way. But the first step to recovering from a small business failure is to immediately consider what went wrong. To be successful in business you should improve your powers of observation.

If you don’t decipher what went wrong, you’re likely to repeat it. And no, it’s not always someone else fault as to why you failed. Take responsibility for yourself and begin again more intelligently.

 

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