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4 steps to bouncing back from a failed startup

Fa calendar 16 grey March 1, 2019   
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When we reflect, we weigh on the good and the bad and what we should have done better.

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As Sir Winston Churchill once said, Success is stumbling from failure to failure with no loss of enthusiasm. Many startups face defeat in their first few months. Learning how to navigate through various aspects of your company takes a lot of time. No class can ever prepare you enough for that. Even in failure, you must bounce back and start over. Here are some tips for bouncing back after a failed startup.

1.    Sit back and reflect

When you finally fail on your startup, take time and reflect. Take your mind back to some decisions you may have made. You will realize some things were the cause of failure. When we reflect, we weigh on the good and the bad and what we should have done better.

2.    Seek valuable input

Have you ever tried to look for feedback on your idea? We fear that people will judge or criticize our ideas and belittle them. While that may be true, criticism is growing. When people critic your work, you can use that information to make changes. In some cases, driven by those negative voices, you can gather more strength to challenge them.

3.    Put new strategies in place

When you have already established the areas that made you fail, you can now improve those aspects. If you did not re-invest into the business, you would know what to do next time when you make some profit. Analyze each failure and state a new strategy that can curb the problem.

4.    Take your time

Do not hurry off to return to the same business. Take time to unwind and re-organize your mind. There will be new challenges to face every day. As an entrepreneur, take time re-energize for the next round.

If you are not failing, then you are not learning anything new. Get back up and face the world like nothing ever happened.

 

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Comments

    Felix | March 17, 2019 15:22

    So true

    ISAAC | March 15, 2019 08:18

    Encouraging

    BABYESIZA | March 13, 2019 15:11

    so sweet

    Bernard | March 12, 2019 15:15

    Amazing

    MAUREEN | March 12, 2019 12:16

    I so love this

    ROSELYNE | March 08, 2019 11:34

    energizing

    namatovu | March 07, 2019 10:36

    the best way to do

    PAMELA | March 04, 2019 08:12

    Inspiring


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