Creating a business is something that works well for some and not for others. Having nurtured one with great hopes and dreams, some find it failing to their greatest dismay. But there are others who are able to create a good business from the start and enjoy the fruits of its success. Yet there are those who might fail initially at building a business but soon learn from mistakes and are able to turn things around.
But what do you do when your business is doomed from the start, when the spirit of entrepreneurship maybe strong in you but the business simply isn’t working? Do you stay on wishing foolishly or are able to quickly understand it is going nowhere and cut your losses before quitting?
What some is us forget is that being optimistic is not about being foolish. Optimism is fine as long as it aligns with other aspects of the business. Are you in the right market, is your product the right one for the market..is your pricing right and your availability or are there things that need to be tweaked until you get it right?
Some of us never learn. We keep hoping on an arm and a leg that things will work out. Even though we know that it most likely will not. Some feel sentimental about a business they have started and refuse to see the obvious ; a little like staying on in a bad marriage without trying to work things out. Every time you are forced to see reality, you want to sink your head in the sand and ignore it. Until one day, it blows over and you sit there wondering what went wrong where. You have become the foolish entrepreneur who didn’t read the signs.
Sometimes bad things happen to good businesses. While you sit and wonder what went wrong, it is more realistic to quit or change course. A lot also depends on how attuned you are to what is going on in the world around you. Some are not able to respond to change fast enough and are doomed to watch a business fail.
Some choose to believe that no matter what happens, things will always work out. ; without really doing anything to change the status quo which can resuscitate a sick business. A vision for success alone will not take you anywhere until and unless your business is attuned to the needs you are trying to fulfill.
It is good to be optimistic but not to the extent that you cannot or will not see the writing on the wall. Don’t let the bigger goals take your attention away from the smaller details that actually will help you build the business in the right way.
Some things can help us minimize the failure bit. At the end of every day , when you are closing your computer for the last time for the day, it is good to think of three things to be grateful for. Developing such a habit will help you focus on the positive and stay away from the negative. It will also empower you to feel good about your success.
Creating a running a business is not easy – try not to dwell on the failures, going over a hundred times in your head how you could have done it right. Learn from the experience and move on. It doesn’t help sometimes to be our worst critic ourselves.
Who are your confidantes – are they on the same path as you are or are they in the opposite camp? Do you deal with more nox than the other way around. If your business is more about criticism and failure than optimism, you need to surround yourself with people who will not flatter you but will also not be discouraging you. You need to find friends and colleagues who are genuine enough to challenge you but will not let you down.
Aim for excellence and believe in what you have created as a business. But if you understand that things are not likely to work out, be courageous enough to walk out and rebuild. After all, Edison tried over thousand times to make the perfect light bulb before he succeeded.
The key to finding whether you are an optimistic business owner or a foolish entrepreneur ultimately lies with your own self.