How I deal with Failure?!

Hey! 

One thing we don’t talk enough about in business is failure (or lessons learned)! You agree?

According to a Bloomberg report, eight of 10 minority-owned businesses fail within 18 months and there are a variety of factors that contribute to that failure rate so if you’ve been in business longer than that - KUDOS TO YOU! 🎉

But, at the end of the day - sometimes things don’t go as planned in business - whether it’s a failed product or service launch, failed business partnership, failed employee-employer relationship, so on and so forth! 

Now, how you respond to these things not working out - can make or break your business. 

For me, I’ve had several failed attempts in business. For example, I bought a Property Management Company from a client but let them run the day to day, and it didn’t work out so I sold my interest and lost some money in the deal. 

I also had a legal staffing company, Eiffel Staffing, with a good friend (and still is a good friend). The business had a ton of potential because there were not many black-owned legal staffing firms but we both had wayyyyy too much going on and while the business model was great, we didn’t give the business the time and attention it needed to scale and eventually, it fizzled out. 

So, here’s how I deal with what some may say is a failure! 👇

I DETACH MYSELF FROM THE THING & NOT PERSONALIZE IT NOT WORKING OUT.  

I never internalize that something didn’t work. I always say - “That may have failed, but I’m not a failure. In fact, I’m a success and now I get to try again with new data & insight.” 

On the flip side, you can soften your failure rate by surrounding yourself with like-minded entrepreneurs that can mitigate your trial and error, as you scale your business faster. 

Join us at the www.millieceosummit.com now & grab your ticket today before prices go up again!

Bobby Robinson, Esq.
bobbyrobinson.co | @iambobbyrobinson