What do you do if your entrepreneurial venture fails and you need to come back stronger?

There is no coming out of a failed venture of one does not accept the reality. Trust me, I have been there, I have lived in the denial that my venture has failed, I failed. I who make strategies for other businesses, I who has built so many companies for others, I who have given 3X growth to businesses in 1 Year, how can my business fail? But it did. And the more I waited to accept the reality, the deeper it hurt, it started impacting my life, my decisions, and so much more, and in all areas of life. So if it is over, accept it, only then you can move on. Irrespective of how much you love someone, you can not hold on to them once they have passed away.

Build back better and strong. It is not failure it is learning. As business coach, we coach the learning and the mindset of success. One step back can mean 2 steps forward. If a venture did not go as planned, take the plan and break it down. What DID work, What can we learn from what was not working. What could be done differently. In a new venture and in any venture, I share with clients to MMA.. measure, monitor and adjust - look at what at the metrics during a 90 day run, and then adjust after. Find the "control" and then keep MMA'ing. When a venture is not successful, come back stronger by looking at what was working and make that better. Take what was not working and take a different approach. Build back Better!

Reality of a failed business venture also includes the reality of facing what worked about you, your system, your operations and your approach. It is not only useful to confront emotions, behaviors and failures.. but also important to balance with the success factors. Also to look at your strengths and the opportunities from this failure. e.g. who would pay to learn from your experience and what ($) would be worth paying so much to learn from you?

With your business coach analyse what went wrong, identify the key lessons, and apply that knowledge to your next venture. Don't view the failure as a setback, but as an opportunity to grow and improve. It can be embarrassing accepting the reality of failure but a qualified and experienced business coach can help you objectively reflect on the reasons for the failure and guide you towards a new, stronger start.

Facing failure in entrepreneurship isn't just about acknowledging it; it's about accepting the reality with grace and resilience. Understand that setbacks are not the end but rather stepping stones towards growth. Embrace the lessons failure teaches, for they are often the catalysts for future success.

You can never go from excuses to success, but you can go from failures to success. If you failed at something, find out what mistakes you made unknowingly. Maybe your strategies were old, your business model is outdated, lack research, etc. It could be anything, but you have to find out and not repeat the same mistake again.

Before you step into the analyze mode there is one more thing you, the mindset. Know that it is the venture that failed, not you. Failing of your venture does not mean you are a failure. The most successful entrepreneurs you see today, have so many failed ventures in their kitty. Now, there are two ways to do this. 1. Reflecting - What was I supposed to do, which I did not? What was not supposed to be done, which I did. 2. Investigation - In investigating, break down your businesses into the smallest of segments, research, idea validation, market validation, financial validation, implementation validation, resource planning, hiring, marketing, sales and keep going on, and then dig deeper at each level, what went wrong.

Include in your analysis failures in the lines of communications. What requests were not made? Which were not accounted for? What promises went unaccounted for? What promises should have been made and managed?

Dive deep into the reasons behind the failure. Was it a flawed business model, inadequate market research, or external factors? Analysing failure helps you gain insights into what went wrong and equips you with valuable knowledge to avoid similar pitfalls in the future. It's not about dwelling on mistakes but about learning from them.

Confidence means different things to different people. What does it mean to you, what is your source of true confidence? This is something you have to identify, and then work on rebuilding it. Do not get into he pretend mode or fake mode. Which many people do, I failed but I won't let the world see. Yes, that is for the world, but your inner circle, your source of confidence, be honest with them and seek their help. You will be surprised to see how many people will step in to help you. Just ask the right people.

I am so so glad that they included this section. It is so very easy to be so hard on oneself that you can lose confidence and self esteem. Rebuilding confidence includes being with family members and people who love and care for you beyond your identity as an entrepreneur (successful one or not.).

Failure can dent your confidence, but it's crucial to rebuild it to bounce back stronger. Focus on your strengths, past successes, and the lessons learned. Surround yourself with a supportive network that believes in your abilities. Self-belief is the foundation upon which successful comebacks are built.

Alles im Leben passiert FüR dich. Finde den Schatz in dem Scheitern! Vermutlich siehst du die Tür noch nicht, die sich für dich nun ?ffnen.

La autoconfianza es crucial cuando las cosas no salen como esperábamos, ya que no permitirá que bajemos los brazos y sigamos buscando todas las razones por las que SI vale y mucho la pena, respirar hondo y salir más inspirados que antes.

What's your next move? What's your comeback strategy? Planning will give you more control and confidence to start working on your next project. Do not take too long a break, the doubts will set in and you will enter into a freeze mode. When you make your new strategy, consider all the learnings from the last venture, but do not be driven by the failure. If you let the past be the driving force, it will lower your risk appetite, you will try to play safe. There is a big difference between calculated risks and playing safe. Be intelligent enough to know the difference, and wise to make the right choice.

Armed with insights from analysing failure and renewed confidence, craft a strategic plan for your comeback. Set clear goals, outline actionable steps, and leverage your strengths. A well-thought-out strategy not only guides your actions but also keeps you focused and motivated during challenging times.

Realizar un D.A.F.O o F.O.D.A puede marcar el comienzo renovado. La planificación estratégica propiamente dicha es trazar un plan donde tenemos diferentes escenarios donde abordar y concretar nuestros objetivos. Observar como otros han superado obstáculos y que nuevos desafíos pusieron ennsu camino puede mostrarnos todo lo resilientes que podemos ser cuando planificamos algo que sentimos elevada nuestro espíritu.

1. Always be open to tweaking your strategy, because as and when you implement things, you will encounter things that you did not consider while planning, do not be rigid here, adapt. The road, and mode of transport could change, the destination should remain. 2. Great execution can outdo the best strategy which isn't implemented well. People can copy your idea, but they can not copy your execution.

Execution is key to turning plans into reality. Stay disciplined, prioritise tasks, and monitor progress closely. Adaptability is crucial; be open to tweaking your approach based on feedback and market dynamics. Consistent, effective execution lays the groundwork for sustainable growth and success.

Claim perspective to move toward success and wisdom. All great enterprises and leaders understand the word "failure" and learning inform evolution. It is the learning that can turn what didn't work into the elements involved in future success. Even the word "F.A.I.L" stands for future awareness for learning! And awareness is linked to learning and creativity. Use personal accountability to own what did not work. Use imagination to envision what could work in a different possibility. Success and failure are cousins-we often need to examine the small details that were the road signs towards success or failure. Dwell on "words of learning" rather than words of defeat-learning is the ladder towards new heights. Brainstorm and experiment

Tener un equipo inspirado hará que las cosas sucedan. Bien entrenados y mostrando absoluta confianza en el granito de arena que cada uno dará, hará que se sientan parte del todo. Las soft skills harán que trabajen potenciando unos con otros. Mostrar el camino y el horizonte a nuestro equipo manifestará lo potente que pueden ser cuando unen fuerzas, ajustar lo que haga falta y salir victoriosos.

Resilience is the backbone of successful entrepreneurs. Expect setbacks and obstacles along the way, but don't let them deter you. Stay adaptable, learn from failures and successes alike, and keep pushing forward. Remember, it's not about avoiding failure but about how you bounce back from it that defines your entrepreneurial journey.

The struggle is necessary. Without struggle, there is no evolution i.e. no movement forward based on resolution of struggles. I have practiced the following mantra when I hit an obstacle - I say to the powers that be (mostly in my own head) "Thank you for the training. What can I learn and use to create a breakthrough level of operation next time?" The attitude is more important than the answers.

This is not trivial. This is not making light of your situation. But I would say a sense of humor will help you grow even stronger. All the primary leaders I have mentored .. every single one of them, has a genuine rustic sense of humor. The kind of humor you can only gain from honestly confronting failure and despondency.

I am so good at utilizing and monetizing my failed ventures (grins**). Failed 6 times and created several successful ventures. No strategy or action plan is perfect. There can be flaws and failure can happen. Here is what worked for me. Assess what made my venture fail. Where can I improve? Where do I need help? How much time I need to address the flaws? How much money I need to invest again and back up my venture in case there are hiccups and uncertainities. Arrange the money, get prepared, have the needed support and try again. Every failure made me more resilient and determined. Until I knew almost everything that DOESN'T work and I started implementing what works. Your drive and vision got to be stronger than failures.

After experiencing a setback with my startup, I'd take a step back to analyze what went wrong, gathering insights from the experience. I'd seek feedback from customers, mentors, and industry peers to understand where improvements can be made. Armed with this knowledge, I'd refine my business strategy, perhaps pivoting to a new direction or adjusting my product-market fit. I'd leverage my network for support, seeking mentorship and advice to guide my next steps. With a focus on continuous improvement and resilience, I'd aim to relaunch my venture with a stronger foundation and a clearer path to success.

Once you accepted, the current as(s ) is an analyze what was really going well, think about what should have been done differently. The important thing is to do a reflection loop that considers the good, to be improved to plan ahead. It is always great to do some reflection with externals in order to look at it from a positive point of view and to plan your next steps. In parallel, it’s good to work on a positive spirit mindset, meditate calm, your mind in order to positively go into the future. If you need reflection support, feel free to contact me