Those who take risks are no stranger to failure. Those who start their own business chose to step out of their comfort zone and take on new opportunities. Unfortunately, this can, and usually does, include failing and changing paths. The important thing is that you DON’T GIVE UP! Barbara Ketley, CEO of Milestone-Belanova, categorises failures into 3 different types and stresses the importance of acknowledging and learning from the category you are currently in.
- The Set Back
It’s normal to have setbacks when you are working towards a goal. We all make mistakes and obstacles are going to get in the way. Don’t start blaming yourself when something comes up. It is important though, to evaluate where the failure has occurred and what is the reason behind it. Take ownership when it is something that occurred because of you. Learn from it and try again. If it was something out of your control. Acknowledge it and again,learn from it. Each failure is a steppingstone for you to continue on down your path.
2. The Roadblock
A roadblock is when you cannot continue down your initial path. Your end goal hasn’t changed, and you know that it is still achievable, but your original plan has to change in order to continue. This is when you reach out to mentors and peers, ask questions and advice. Research other methods and understand that there can be other solutions out there. The way that we react to these kinds of failures can determine if we are successful in the big picture.
3. The Dead End
The dead-end failure is unfortunately when you have to make some tough decisions. This is when you have to evaluate all aspects of your goal – have you exhausted all your options? Have you modified your plan? Used all your resources? Is the idea obsolete? Do you lack the skillset needed? At some point, a goal might just be unachievable and it is important to be honest with yourself so that you don’t spend too much time on one thing when you can take the experience and work towards a new goal.
Failures can be disheartening, especially when they can reach the dead-end phase. Life doesn’t always turn out the way we want. You have to remember though; you should not give up nor blame yourself. Fail is just an acronym for first attempt in learning.
No matter what stage of failing you are in, you can evaluate and learn from it. This is what ultimately leads to success. It’s what the successful people do. It’s also what most people don’t do. By doing this you are always improving yourself and those around you, which in the bigger picture is never a failure.
This blog is based predominantly on the information given by Barbara Ketley during her appearance on The Stronger Than My Excuses Show: Don’t Beat Yourself Up Over Setbacks…Just Don’t Give Up! Watch the full episode here: