3 Things I Will Take With Me When My Business Collapses

If you do ask me how many times I have failed, I wouldn’t count! You see failure doesn’t only happen at school when the grades go bad or when your tutor tells you that you’re actually stupid.

In real life people fail, they fail in marriage, expectations, achievements, and even some end their life in the process. Anything where you don’t have experience, skills, and knowledge, makes you a failure.

At times those even don’t count, external forces beyond your reach automatically shift things against you.

If you doubt me, make a survey of how many businesses failed during the COVID-19 pandemic. You will realize that most of those businesses were actually well established.

In a crisis, the most hit sector is the business sector because they rely on stability whether politically, economically, or socially to thrive. That’s why when investors are looking for countries to invest in, they are very keen on their political, economic, and social status.

I mean who would want to put their eggs in a basket with holes.

Keep reading to find out what I will personalize incase my business fails today.

1. I will take note of the mistakes I made

You know, oftentimes people don’t like knowing that they have made mistakes. However, mistakes make us human and it’s an attribute that we can’t do away with.

So I will first accept all my mistakes including big and small ones and tell myself that am human. Then I will internalize all of them and find out each and where I went wrong.

I will also take note of every decision I made while leading the company including the nature of people I worked with, whether workaholic or lazy and take it as a lesson.

2. I will keep all the contacts of people I worked with

Failure often makes us make rational decisions including isolating ourselves from the very people that mean something to us.

Personally, I will not alienate people I worked with as an entrepreneur but rather keep their contacts because they may turn out to be very valuable in the future.

They could become partners, employees, or just contacts that can refer more clients to your endeavors.

The broader your network is, the better.

3. I will be open to talk about my experiences

Failure often makes people shy. But that should not be the case for you as an entrepreneur. Take it as a milestone.

People will respect your leadership and management skills when you decide to disseminate the ideas and skills you learned from the experience of an entrepreneur.

I will personally accept invitations to talk in seminars, training, and places where I can meet other entrepreneurs and learn from them.

Every business failure equips you with skills, knowledge, and experience which you should never take for granted. Yes! Accepting failure is very difficult but eventually, you have to get over it and start viewing things from a new angle.

Remember not giving up differentiates you from a petty failure.

Share with me in the comments on what things you will be gladly taking with you after your business fails.

Written by Mila Joshua Yona

Pro South Sudanese Blogger, Digital Marketer & Web Designer. I help entrepreneurs scale up their businesses online. You can join my Facebook Group Here or Telegram Group Here

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