As an entrepreneur the question is not whether you will fall but whether you will be able to get back up on your feet. Im often asked the question of how I deal with failure and I invariably answer it the same way
You, me, or nobody is gonna hit as hard as life. But it ain’t about how hard you hit. It’s about how hard you can get hit and keep moving forward. How much you can take and keep moving forward. That’s how winning is done! “Rocky Balboa” Rocky Quotes
Yes I answer this age old question with a quote from Rocky. To me this one quote sums up the life of an entrepreneur. The hits are going to come and they will keep on coming. You will notice that the more successful you get the more frequently the hits will come. So how do you get hit and keep moving forward? How do you look at a negative bank account and stay positive? How do you instill confidence in others when your confidence is looking for the emergency exit?
1. I make a concerted effort to disconnect from my immediate emotions, one of the major lessons I have learned during my last couple years of rapid restaurant expansion is that the “catastrophe’s” are more often than not neither life threatening nor world ending. So keep everything in perspective and take an objective look at the situation. Emotions can be hazardous to business, remember you’re the boss and keep your head in all situations.
2. Two’s company three’s a crowd. What do I mean by this? I believe that we all need someone to bounce ideas off of and only the foolish entrepreneur refuses to seek counsel but I would qualify this statement by saying do not let your seeking of others opinion result in inactivity on your part. I have noticed that people are very efficient when it comes to talking about problems. The same people are far less efficient when it comes to addressing and solving those same problems. I have also noticed that the more people I consult the more opinions I get and in general the murkier the water becomes. I would suggest that you find someone you can trust, whose opinion you value and make that person your sounding board, your general, your confidant. Between you, your gut and your right hand person the answer to your problem is going to reveal itself.
3. Act decisively! So you have remained calm and sought counsel the next thing to do is act and act decisively. There is literally a million and one quotes about inaction, they are on every inspirational poster, scattered throughout every motivational website and on the tongue of every self-help guru and aspiring entrepreneur and there is good reason for this. Inaction is evil, plain and simple. Don’t let your fear of making a decision cause you to make no decision at all.
4. Follow through! Believe in your decision because if you don’t who will. It is always interesting to me to see an entrepreneur or businessperson make a definitive action only to lose confidence in their action at the first sign of resistance. It is very unlikely that you can solve a problem immediately, have courage follow through with your convictions. Your team, your company, your partners will be looking to you and the first sign of panic or concern that you convey will be increased exponentially as it travels through your crew. Believe in yourself!
5. Be Healthy! I cannot emphasize this enough. The better shape you are in physically the more you will be able to take a hit and keep moving forward. How much you can take is directly proportional to your care and maintenance of your body. Get in the gym, get out for a walk take a yoga class. The most important aspect of being healthy is make your activity a routine. As entrepreneurs many of us are quick to proclaim our constitution and endurance, our ability to work without sleep or food. Why don’t you try treating your body right and see just how much more productive and industrious you can be. Be Healthy and Stay Healthy
As an entrepreneur remember your a rare breed. You chose a path that certainly is not that of least resistance. Don’t forget why you got in the ring and always, always keep moving forward!