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5 Steps To Turning Failure Into Business Success

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When you start a business you aren’t guaranteed success. But you can be sure that failure will happen, usually sooner rather than later. A lot of people give up at the first failure, some make it through two or three. They don’t believe this simple fact: failure is the catapult which will launch them to their greatest success.

Any experienced entrepreneur will happily let you know that without failure you will never have real success. So it’s time to not just embrace failure, but make it your friend.

Here are 5 steps to turn your big failures into even bigger successes:

1. Take time to grieve

Perhaps you just lost an important client. Maybe you invested months or years into an idea, only to discover that the market just didn’t see your vision. Possibly a business partner left you hanging.

No matter the cause when you have a failure it is an emotional event. Take a little time to let it go. This is a loss and grief is natural. So give yourself a day or even several to get over the fact that things won’t work out as you planned. Once you’ve grieved you are psychologically ready to take steps in another direction. Not grieving may leave you with emotional baggage that will hold you back later.

 

2. Do a post mortem

After grieving take time to discover exactly what went wrong. Perhaps there was a miscommunication with the client. It could be there wasn’t sufficient market research. Even a lack of a proper contract can sour a potentially lucrative deal.

The post mortem shows you why things fell apart. Missing this step is a huge error. Here experience is converted to wisdom. Remember, if you don’t learn from the failure then you’ll likely repeat it.

“When you come to a roadblock, take a detour.” – Mary Kay Ash 

3. Move ahead quickly

After grieving and the post mortem, it’s very important to get back into the game. Meet with a mastermind group and hammer out a better plan. Brainstorm new product ideas or ways to grow your customer base. Don’t wait.

Just as grief is necessary to let go of the failure, moving ahead quickly will give you the confidence that you can still have the success you deserve. Mindset is the key. Action precedes emotion. Take action to get yourself in the right place mentally.

 

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4. Adjust on the fly

Many entrepreneurs fail because they either didn’t have a plan or they rigidly clung to a plan that was clearly not working. It’s a lot easier to adjust course while in motion rather than starting from scratch.

Once things are ramping back up take time to talk to customers, partners and mentors. Find out from them how it looks from their perspective. Make adjustments based on clear and logical feedback. Discovering and correcting small errors now will steer you more clearly toward your destination of success.

 

5. Fear not and fail more

Failure tends to make us more risk averse. Fear creeps in and tries to convince us to play small. Don’t let that happen. Once you know what caused the failure in the past then you can avoid it and move forward.

Other failures may yet be in the future, but each one will teach you more about your business, more about relationships and more about yourself. Take risks and accept failure as a welcome companion on the path to success.

“Only those who dare to fail greatly can ever achieve greatly.” – Robert F. Kennedy

Most new businesses fail because the business owner simply quits trying. It is the rare person who will push through, repeatedly stepping up to the line to start again. Your success depends on many factors, but perhaps the most important is your ability to learn from and build on failure.

You will have failures. They are unavoidable. But if you grieve briefly, do a post mortem, move ahead quickly, adjust on the fly and keep hustling despite fear then success will be inevitable. Don’t hold back, go all in and when failure comes just smile a bit. Failure without quitting is the greatest sign of your success to come.

Which one of these is your biggest setback and why? Please leave your thoughts in the comment section below!

I help people develop amazing relationships and love what they do every day. I'm a writer, speaker and coach and you can read my articles on great sites such as the Huffington Post, Addicted2Success, the Good Men Project and Lifehack. Happiness in life and passion in your work are my goals. Meet me at TroyStoneking.com and Troy Stoneking on Facebook.

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Many of us spend our daily lives searching for happiness. We jump from one job to another, from one hobby to another, hoping to spark a sense of joy and purpose.

But it’s hard pursuing happiness. After all, life is full of frustration and can put a stopper to our feel-good days.

And it’s challenging to be happy when we are juggling the responsibilities of everyday life like work and relationships. While achieving happiness is arduous, it’s not impossible. Try out these 5 habits to enjoy life more and be happier.

1. Walk in Nature

Spending time in nature has always improved my mood. Taking a walk around my neighborhood park, surrounded by trees and vegetation, I enter a peaceful state of mind.

The worries previously weighing on my mind are suddenly lifted, and I feel an indescribable sense of joy.

Taking just 20 minutes out of my day to get a fresh breath of air is extremely relaxing. 

In our work culture that favors busyness, there is little room for calmness. We associate a busy schedule with how successful we are, which isn’t entirely true at all.

In fact, it might be a disaster in the making. All that stress and anxiety bottled up without an outlet—the outcome is obvious.

So getting in touch with nature is my go-to way of maintaining a proper work-life balance. It makes me energized and ready to blast through the rest of my day with optimism.

2. Smile More Often

I make it a habit to smile every day; they aren’t fake smiles but genuine ones. And they have become a regular part of my life.

What am I smiling at, exactly? It can be the night sky covered with shining stars, like fine quicksand. Or, it can be the flowers sprouting new leaves in spring.

I embrace everything with open arms. Even when I have a rainy day, I don’t let it ruin my momentum.

Regardless of what happens, a simple smile can brighten my day; and best yet, it’s completely free.

At some point, everyone can have a stressful day and feel burned out. So put up a smile. Even if you’re not a positive person, take a firm stance against negativity. Your daily life will surely burst with joy.

“Happiness is not something ready made. It comes from your own actions.” – Dalai Lama

3. Find Your Passion

Many people dive headfirst into a day job that doesn’t interest them. They do it just for the money, which only makes them more miserable.

People who aren’t attached to their work will find difficulty achieving happiness. They live in a gray and stale world devoid of positivity.

Listen to your heart. Ask yourself: What makes me feel enthusiastic and excited? This is a time to discover your hopes and dreams.

You have endless opportunities in this world. Start a business. Volunteer at a charity drive. Figure out your reason why.

Personally, I used to turn to real estate to earn dependable rental income. But there was no sense of fulfillment. That feeling soon reached a tipping point, which pushed me to re-prioritize everything.

I wanted to make a positive impact on people’s lives. Combining my interest in business and self-improvement, I pursued my passion for blogging. And I can’t be any happier about it.

Everyone needs something that keeps their life meaningful. It can be a source of light that helps us walk in the right direction.

So having goals and dreams makes us genuinely happy. Without them, it will be a long, treacherous journey.

4. Practice Gratitude

Some days we may not feel a shred of gratitude. We are overwhelmed with the hustle and bustle of life where we seek perfection, one that is only full of success and wins.

However, that will only put you further away from happiness.

Take the time every day to pause and appreciate something in your life. What I find helpful is sitting down with a pen and paper.

I start with “I am grateful for…” It can be the appreciation for my afternoon cup of herbal tea. It can be the clear blue sky on a sunny day.

This routine sets up a support system that reinforces positive emotions. It reminds me that there are many things I’ve experienced in life and even more things that I’m grateful for.

Even if I have a bad day, I try my best to be grateful and encourage lasting joy.

So appreciate everything that enters your life—all the good and bad. You will see your mood elevate to an entirely new level.

5. Create Memories With Loved Ones

It can be tempting to focus all our time and energy on reaching valued goals. We say, “I’ll take it easy and spend time with loved ones after I’m successful.”

But what if that time never comes? What if, at some point, your loved ones are suddenly gone?

Don’t wait until it’s too late. Prioritize your loved ones today, not next year. After all, you wouldn’t want to leave any room for regret.

The cherished memories you make now will be a spark of joy. They can even be a source of motivation when shooting for goals.

As social creatures, sharing stories, feelings, and dreams can make us happy and fulfilled.

Living a solitary life is not for everyone. Although having some alone time is perfectly fine, you should still make memorable experiences with those close to you. They will be cherished within your heart for as long as you live.

The quest for lasting happiness can be daunting at times. We spend much of our time searching for it, almost giving up along the way.

But you need to see the bright side. Living a better and happier life isn’t a far-fetched dream; it’s within reach. Remember that happiness can come from the small habits and things you do daily.

If you want to lead the life you truly want, practice these 5 habits and be consistent every day. Don’t give up halfway. Once you do so, there will be nothing stopping you from enjoying life to the fullest.

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