Here’s How To Deal With The Fear Of Failure In Business

Are you turning down good opportunities that might help your business grow just because you fear to be a failure? Of course, you want to be on the safe side and want your business to grow substantially. But, to actually make that happen, you will have to take some risks. What you don’t realise is that by holding onto such fears, you are actually stopping your venture from growing.

Failure is one such word that has stopped many from entering into business. Small business owners fear to fail so much that they would seize every opportunity to not deal with it. This running away results in missing out on good business possibilities that could have brought great success to the venture.

Well, what if you run towards your fears instead of running away from them? What if you didn’t care about failing and took every opportunity that came your way? Taking this path may lead to failures, but you will definitely get opportunities to grow your business.

A lot of business owners find it difficult to get over the anxiety of being a failure. And the good news here is, you only have to change your perception and use failure to help inspire you.

Turning Failure into Business Success

The first thing that we need to address about failure is that we think of it as a bad thing because that’s what’s been drilled into our minds since childhood. But what most businessmen don’t understand is, that failing and making mistakes is what makes us do better the next time.

For example, a supermarket owner might think ten times before investing into expensive tote boxes for storing products, but by investing into quality containers they will make sure that their goods are well protected and less likely to suffer damage. Here, having a vision of the bigger picture is important.

Working with Failure

Anger and frustration might be your first reaction to failure. After you get over these two, you become depressed for a long time. Why? Because you expected a different outcome and you didn’t get it.

You end up frustrated and with time you’ll also feel sad and sorry, not to mention you will convince yourself that you will never be able to achieve your dream and goals.

See how you can change things, instead of trying to find the easy way out. For example, you came up with a new marketing plan, tried it and didn’t succeed from it. When this happens, instead of dropping the plan entirely, a better approach will be to figure out the root cause of it being unsuccessful in the first place and change that specific part?

You will keep learning with each failure. So, take away every lesson you can from it and use it to your advantage. Just know that it doesn’t have to be something extremely different, but just enough to make sure you get a different outcome from the last time.

Just because one thing didn’t work out, doesn’t mean that it failed. A thing only fails when you leave it completely. The only way you can make it successful is by moving forward with your loss and constantly working towards it.

Moving Forward with Failure

There will be times when you will have to abandon what didn’t work out in your favour. Use the things you learned from your failure to your advantage and the next time, do it better.

If you messed up when dealing with a customer, get to the root cause of why the mistake happened in the first place, take in that information and make sure you do not repeat it with other customers. If you didn’t follow the instructions given, be more aware of the instructions received from other customers.

By learning this lesson, you will make up for the mistake committed and make sure that other customers are happy with you.

When you are able to learn from your mistakes, failure won’t make that much of a difference. It will also help you deal better with other customers, leading to more referrals and business. The key is not to look at failure as a dreadful thing but rather as an opportunity to grow your business.