Holicent
VIP Contributor
When you fail as an entrepreneur, it's hard to bounce back. You've learned a valuable lesson and now have a better understanding of how your business should work. But what if the failure was so big that it can't be fixed?
That's what happened to one of my clients, who had been running his own company for almost a decade before he ran into some major problems that derailed the entire enterprise. The company ran out of money and he was forced to sell it off cheaply.
When he took over another company and started making more money, he quickly realized that he'd forgotten all about the previous one. He was too busy getting his own business up and running to worry about other people's businesses, which meant that when people started asking him for help with theirs, he couldn't do anything.
Here are three things that can further help you avoid this:
1.Understand the psychology of failure.
2.Don't be afraid to fail at first.
3.Sometimes, it pays to be patient.
That's what happened to one of my clients, who had been running his own company for almost a decade before he ran into some major problems that derailed the entire enterprise. The company ran out of money and he was forced to sell it off cheaply.
When he took over another company and started making more money, he quickly realized that he'd forgotten all about the previous one. He was too busy getting his own business up and running to worry about other people's businesses, which meant that when people started asking him for help with theirs, he couldn't do anything.
Here are three things that can further help you avoid this:
1.Understand the psychology of failure.
2.Don't be afraid to fail at first.
3.Sometimes, it pays to be patient.