No one likes to fail and I include myself in that statement. Failure usually has financial, emotional and other consequences and costs. A failed business, more often than not, results in employees not being paid, creditors not being paid and a sense that years’ worth of effort, thinking and building have disappeared down the drain. Business failure often comes with a heavy blow to confidence in one’s own abilities. In a nutshell, failing at business sucks and it is painful.
“That’s nice. But don’t believe a word they say about you!” Upon receiving a quizzical look from me, he went on, “If you attach meaning or importance to all the positive things they say about you, one day in the future when things might not be going so well and they write negative things about you, you will attach importance to that, too.Successful entrepreneurs have an internal locus of control and derive their confidence and self-belief from within.
One of the most important aspects of toggling to an academic state of mind is that it allows you to assess what assets you may be left with, what relationships you still have left, and what skills you have accumulated. You literally need to take stock, in a non-emotive way, of all these elements as they will become the foundation of your comeback.Shame plays no role in the failure of successful entrepreneurs or sportspeople.