How do get over a business failure?

[Sincerem]

I really feel bad anytime I fail in any business adventure. It is not easy to take when your business didn't go as planned. I don't think their is any successful business person that hasn't experience failure before?? All have experienced before and take a bow to rise and chase for business success.

 

[Aqsa Shahid]

10 Strategies for Entrepreneurs Dealing With Failure

1. Be prepared. ...
2. Find what can build your energy back up. ...
3. Do not make emotional decisions. ...
4. Have a strong support network. ...
5. Reevaluate your situation. ...
6. Do not take yourself too seriously. ...
7. Disassociate the failure from yourself as a person. ...
8. Do not dwell on it.

 

[Kennysplash]

I have a friend whom recently lost a business that he had suffered to build for about 3 years, and right now it is affecting his health.
I want to know if there's anybody that has experienced something similar and how the person was able to cope and survive.

This is disheartening, it's not easy. I can't imagine what she's going through. She should take time and analyse what happened, where she made mistakes and restrategize. She can come back better and stronger.
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I have a friend whom recently lost a business that he had suffered to build for about 3 years, and right now it is affecting his health.
I want to know if there's anybody that has experienced something similar and how the person was able to cope and survive.

This is disheartening, it's not easy. I can't imagine what she's going through. She should take time and analyse what happened, where she made mistakes and restrategize. She can come back better and stronger.

 

[Hassan14]

I have a friend whom recently lost a business that he had suffered to build for about 3 years, and right now it is affecting his health.
I want to know if there's anybody that has experienced something similar and how the person was able to cope and survive.

Before you start any business you need to have a thorough knowledge of it so that you can become a good businessman and you can succeed in business well if you don't have your own business plan. So you can never succeed in this so you don't have to fail already. You have to make strategies for your improvement.

 

[Damismiling]

Failure is part of life, you experience failure for you to be able to restrategize, for you to sit down and look back at where you have not done it right, they are part of experiences, it's a lesson to rebuild you and make you try it out in a different way.

 

[Kamon c4]

So sorry for your friend’s loss. I haven’t suffered much loss to go into depression but I know a friend who did. He has to sign up for therapy sections In order to remain mentally stable. Losses are normal in business dealings. He take heart and see a therapist

 

[Alexandoy]

When my business closed due to a bad experience with a business partner I was kind of isolated for a week. No, I was not really emotional but just wanted space maybe and I didn't want to talk about my business. My wife showed me the newspaper ad of a writing workshop that got my interest. It was a lifesaver for me, so to speak, because the workshop made me gain new friends and I also enjoyed the lessons in the writing workshop. Soon I had forgotten the failed business.

 

[Sariana23]

When you make the decision to start a business, even if you have good expectations for the future, you must be aware that you can win or lose, since almost all investments are risky. The best thing to do is to get up and start from scratch, not be carried away by failure. Try it as many times as necessary, from the failure there are lessons and experiences to correct mistakes made.

 

[Dylinks]

Business failure is a rampant thing in this post covid era. In such scenario, the individual should realise or identify the reasons for the collapse of the business and build again from the scratch.

How to overcome the business failure:

1. Share your experience with someone who can appreciate you instead of condemning you.

2. Don't dwell on the past failure i.e move on with life.

3. Start or restrategize again from the beginning.

4. Be prudent and accountability

 

[Mary]

Business failure is not what all businessmen pray for but this can sometimes happen just to correct the Entrepreneur decisions and behavior towards the business. To get over a business failure the first thing to do is to highlight the cause of the failure and then make corrections

 

[Sammyesx]

As bad as it may sound, failure is one thing that is common to most successful people, failure helps to understand things from a different perspective, that why when people fail the come back stronger. He should put his failure behind him, learn from it and comeback stronger.

 

[Adeyoola7]

Ways to Overcome Small Business Failure and Thrive in Hard Times
Adopt a Forward-Thinking Attitude.
Conduct Frequent SWOT Analyses of Your Business System.
Manage Cash Flow Efficiently.
Believe In Yourself and Prepare for the (Inevitable) Bad Times.
Perseverance, Determination, and a Positive Mindset Reign Supreme

 

[Oluwatobitomisin]

Business Failure isn't a easy thing that one can forget easily, but I'll like you to talk to that your friend to take heart and believe that HE CAN DO IT.
He should start another Business or make a good Research on the Business he should do

 

[shakky2]

A business failure should not be a breakdown to the bearer it should rather strengthen the individual.one thing you need to understand is that the failure will be a stepping stone to exceptional success and every successful business comes with previous failure

 

[Trexxxy]

Businesses fail all the time, I'm sure nobody got it right when they tried it at first. I'm sorry about your friend, try to console him so that it doesn't affect his health any further. The only thing you can do is to learn from the mistakes and forge ahead.

 

[Seyesystem]

Business failure is the worst nightmare that will happen to a business owner. You will be watching and the business dream failed without anything you can do to it. But you know what? You’re going to be okay. Not only that, but you have finally made it to the trial-by-fire phase that most, if not all, successful entrepreneurs endure at least once in their lives time. It's normal in business you are the one not to give up you dream.

 

[Jonaville1]

Sorry about your friend. I pray he gets the strength to stand up and work with more determination. As for failures, we shouldn't be afraid of it. It is just another phenomenon that teaches us a vital lesson. So instead of feeling dejected in the face of failure, we should learn from it.

 

[giddy]

When you’re building a business, a lot of people will offer you advice. But, I’m going to bet that you won’t hear this often: Make lots of mistakes. They might say, “Take risks!” or, “Don’t hold back!” but they probably won’t make the business case for how this mindset can actually give you an edge over your competition, make you a stronger leader and set you and your team up for greater success in the future.

 

[Hasan Raza]

I overcome failures by accepting my mistakes. Evaluating what I have failed taking what happened as an apprenticeship so as not to commit them again and move on. The latter is the main thing, do not collapse and stop insisting, you have to try as many times as necessary.

 

[Oliver 20]

To get over a business failure you need to have a business plan strategies that will enable you to achieve the business plans, understand the market need in order to meet up with it,siding your vision and mission