Ask The Entrepreneurs is a regular series where members of those involved in the Young Entrepreneur Council are asked a single question that aims to help Lifehack readers level up their own lives, whether in a area of management, communication, business or life in general.
Here’s the question posed in this edition of Ask The Entrepreneurs:
Entrepreneurs are known to be resilient people who fail fast and fail often. Where does your ability to get back up come from?
1. Know the Statistics
Growing up, my dad told me, “Nine out of every ten businesses fail within the first five years…which means you have to s tart ten businesses.” That sentence, and the knowledge that he’d support me even if I fail nine times, has made all the difference in the world.
2. Learn From Each Failure
As long as you’re learning from each “failure,” it’s not really a failure. My advice: keep a record of all of the lessons you learn as you go. In our business, we use Basecamp to record our big course corrections and lessons learned. It’s always eye-opening to look back over the notes and see the twists and turns over the months and years. Keep a record and you’ll see how far you’ve come.
3. Watch the Olympics!
Watching men and women who are the best in the world fall, fail and get right back up is my inspiration. They train harder and longer than anyone and still have setbacks. Knowing that you’ve done your best and can pick up and start again is a great model. Even those athletes who fail to place can come back and win gold!
4. Stock Up on Support
Surrounding yourself with other entrepreneurs, change makers and, by general rule, with people that are smart er than you can be a great help. There is always someone else who has been through a similar struggle, and sharing experiences and resources will help you both deal with failure and rise back up to success.
5. Don’t Be Afraid
Mark Twain said, “Do the thing you fear most and the death of fear is certain.” If you’re afraid of failure, start by putting yourself out there for something small where the failure won’t hurt as much. With practice, the failure will become easier to handle, and your fear of it will lessen.
6. Revert to Your Mission
When there are setbacks or challenges in the day-to-day, I find that our mission brings me back to focus on progressing. It showcases the importance of having a strong sense of the value of your business; whenever times get tough, referring back to it is invigorating.
7. Inspiration — and Desperation
When you learn to burn the bridge and take the island, you don’t give yourself any option but to succeed or die trying. I’m driven to take risks by inspiration and, in the event I fail, I get back up driven by both inspiration and desperati on. I’m inspired to make a difference for myself, children, family, clients and world. Desperate to stay alive, to succeed and, yes, desperate to try again.
8. Not Getting Back Up Is Worse
To me, the idea of the consequences as a result of not getting back up are far worse than admitting the failure and giving up. Imagining that I have to wake up and drive to a 9-to-5 cubical job with florescent lights has been one of the biggest mental images underlying my motivation for success.
9. Take Advantage of Every Opportunity
If you’ve been lucky enough in life to be given an opportunity to make a difference, then not taking every possible advantage of that chance is failing. If you get the chance to take a pitch, how can you not swing?
10. Maintain That Trust
I trust that the universe always has my back and I look at every situation as an opportunity to learn and grow. I trust that I’m always where I NEED to be, even if that’s not always where I WANT to be.
11. Salute the Sports
From the time I started walking, I had a baseball bat in my hands. Honestly, I was never interested really in business until my senior year in high school, but my entrepreneurial foundation was built on the playing field. As a baseball player, you can not get on base 70 percent of the time and be a success. But to get a hit 30 percent of the time, you still need to step up to the plate.
12. Adjust Your Perspective
Failure helps shorten the curve to success. When you realize something isn’t working, it allows you to revisit your strategy and shift directions. Think about it like this, would you rather walk through a maze endlessly, not knowing if you were on the right track, or run into a wall and know you’ve got to change direction? Relentless optimism is an entrepreneur’s best friend.
13. School of Hard Knocks
I grew up painting houses with my dad. Money was always tight — for a couple months in high school, we literally lived out of a van. Life was tough, but I was always dreaming big; I always believed that my suc cess was in my control. When I get knocked down now as a CEO, I remember those days, and I remember that success is a choice, a commitment, a lifestyle. I simply choose to get back up.
14. Keep Sweet Emotion
You have to believe in what you’re doing. It’s part intellectual and part emotional. When you fall, that emotional part makes you fall harder, but it’s also what helps you get back up and keep going.
15. Because You Have To
I do it because I have limited options. As an entrepreneur, you seldom have the luxury to sit around, sulking and crying. You are the master of your own destiny, and your desire to reach your goals should be your most powerful tool.
- Nicolas Gremion, Foboko.com
Featured photo credit: Top view of businessman holding his hands up to temples via Shutterstock