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Life Is Beautiful

 
Industry : FMCG/Foods/Beverage Functional Area : Getting Started
Activity:  16 comments  324 views  last activity : 11 24 2010 04:50:47 +0000
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Your startup is gone, it’s never coming back, and you are in mourning. An entrepreneur whose business fails grieves similarly to anyone who has lost a loved one. The pain of losing a business is not only about a significant loss of income, but can hurl an entire identity into turmoil.

http://4.bp.blogspot.com/_tafXqu5xBBE/THNa74KTxpI/AAAAAAAAAKg/v8XH5NISmwM/s1600/SadFace.jpg
Most entrepreneurs define themselves by their business projects. They calibrate self-worth by what they accomplish or do not accomplish. In other words, if a project fails, then they are failures. If a project takes off, then they are wonderful. It’s the universal entrepreneur reaction.

The loss of a business is destabilizing, so don’t be surprised if you experience:

  • Difficulty waking up in the morning or experiencing sleep disturbances
  • Craving and eating the wrong foods, particularly stimulants
  • Fatigue
  • Irritability
  • Cocooning at home
  • Loss of ambition; the perception that there are no other opportunities out there
  • Submissive or abusive behavior

The knee-jerk reaction is to ask, “Why me?” or to cast the blame on the powers that be: “The economy killed me,” “My partner was a jerk,” or “Investors stole my business.” However, finger pointing is an energy drain and will leave us without the energy to move on.

If we do not assume responsibility for our actions, we play the part of a victim. Try answers like: “My timing was wrong,” “I picked the wrong partner,” or “I’m better at bootstrapping.” Everyone will respect your integrity, and you will be ready to tackle the world again more quickly.
Everyone falls down, but not everyone picks himself up. Here are some suggestions to navigate the stages and turn failure into triumph:

   1. Denial:
The psyche needs to protect itself and absorb what has happened little by little, instead of all at once. Recite the business loss story over and over to take the sting out of it; distract yourself with positive friends, outdoor activities or your community center.
       
   2. Anger: Release anger in a healthy way through exercise, visualization and breathing. Exercise intensity or length of time should correspond to your anger level. Reinterpret the scenario compassionately; be kind to everyone, especially to yourself.
       
   3. Bargaining:
This is “the what if or I should have” stage. Be aware of negative thought streams to objectify them, and have a logical discourse with your thoughts. Then you can invest your energy into moving on.
       
   4. Depression: The sadness sets in and the feelings need to come out. Maybe you need to have a good cry. Laughter is always a wonderful pick-me-up. It will release feel-good chemistry. This will help reset a realistic optimism. Tap into positive friends.
       
   5. Acceptance: This is the point where we think and feel that the loss really happened. We accept our disappointment and the blow to our self-esteem. This is the time when we are ready to rebuild our balance and confidence.

It is how we handle this failure that will determine our next success. Because we are acquainted with loss and failure, we will not fear it again like the first time.

The best way to stop mourning a failed business is to start another one, using all the lessons learned from the previous experience. You may even conclude that losing that particular business was the best thing…

So, whats your view on this....


 Top Comment : Manoj Kumar   | 10 30 2010 10:52:41 +0000
A good one Sunita....Let me summarize it with a great example Sir Edmund Hillary was the first man to climb Mount Everest. On May 29, 1953 he scaled the highest mountain then known to man-29,000 feet straight up. He was knighted for his efforts. He even made American Express card commercials because of it! However, until we read his book, High Adventure, we don't understand that Hillary had to grow into this success. You see, in 1952 he attempted to climb Mount Everest , but failed. A few weeks later a group in England asked him to address its members. Hillary walked on stage to a thunderous applause. The audience was recognizing an attempt at greatness, but Edmund Hillary saw himself as a failure. He moved away from the microphone and walked to the edge of the platform. He made a fist and pointed at a picture of the mountain. He said in a loud voice, " Mount Everest , you beat me the first time, but I'll beat you the next time because you've grown all you are going to grow... but I'm still growing!" This is the attitude that has made most of the world renowned achievers to reach their goal in life! The attitude of “ learning & growing” every moment in life!
 
16 comments on "How to stop mourning your startup failure...."
  Commented by  Sarwan Singh, Freelancer, Management & Strategy Consulting    | 11 24 2010 04:50:47 +0000
  It is unfortunate that we are socially conditioned to celebrate only successes. However,what is really important is the efforts.Well tried efforts even if they fail need to be celebrated as much as successful efforts. After all it is your failures which teach you true lessons of life. It is failure which teaches us what not to do to succeed. In fact every one must fail once in a while. It is only than that you will actually enjoy success even more & shall  achieve even greater success.  
  Commented by  SHRIKANT MANOHAR DANKE, Consultant, Project Management Consultancy Firm    | 11 09 2010 14:00:29 +0000
Just take lesson from past mistake & little change in your approach will give you the success.
  Commented by  rakeshbhatnagar, GM Projects., wig brothers india pvt.ltd.    | 11 08 2010 16:18:28 +0000
DON'T MOURN AS THERE IS NO PLACE FOR SENTIMENTS IN BUSINESS , NOBODY WILL BE WITH YOU IF YOU MOURN . GET UP AND DO SOMETHING TO COME OUT OF THAT SHOCK AND RECOVER TO START AS SOON AS POSSIBLE. 
  Commented by  satheesh, M.B.A student, VYSYA College,Salem    | 11 04 2010 15:04:38 +0000
yes its true. failure is the step to come up and correct the mistakes. from the failure we can learn many lessons. ignore the past failure and take the lesson from it. now i remember one Quote about failure.... "If you are not failing every now and again it's a sign you are not doing anything very innovative"
  Commented by  rakeshbhatnagar, GM Projects., wig brothers india pvt.ltd.    | 11 01 2010 08:22:34 +0000
Failure is a lesson , do not sit and mourn neither run behind it . Leave it and try to recover from financial problems .If you are qualified technically do some job to get a certain fixed income, it may reduce your burden and divert you as well.
  Commented by  priya, recuriting and counselling, professional training consultancy    | 11 01 2010 07:18:10 +0000
thanks for referral manoj without the failure their is no success, if u work hard that its will lead to success,failure is oly a temporary one so don't worry about it,forget it start again to success.."failure is first step for every success"  be confidence,brave,strong helps for ur life long success.....
  Commented by  S.Subash, G.M. MKTG., Romaa Housing Pvt Limited - Romaa Group.    | 11 01 2010 06:45:36 +0000
the first day recording of great music maestro Illayaraja witnessed a power cut and plunged into darkness. but the rest is history.
  Commented by  vishwas peddi, MBA/PGDM student, Institute Of Public Enterprise, Hyderabad    | 10 30 2010 19:13:19 +0000
Hey sunita..ur words are energetics.,.
  Commented by  NATTERAJA R. ARIKRISHNAN, AREA SALES MANGER, UNIFLEX CABLES LTD    | 10 30 2010 17:46:54 +0000
Thanks for sharing Mr.Manoj Kumar.
  Commented by  NATTERAJA R. ARIKRISHNAN, AREA SALES MANGER, UNIFLEX CABLES LTD    | 10 30 2010 16:34:46 +0000
Failure gives experience to set right things in the next attempts. Failures are the stepping stones to move further to face the challenges and to convert into results.
The spider taught a lesson for the success to a king Gajini Mohammad who was defeated 17 times in the war and on the attempt of 18th time he was succeeded.  

Thanks Ms. Sunita Mahapatra for the referral. 
  Commented by  PRANJAL SARMA, SUPERINTENDING ENGINEER (MECHANICAL), ONGC    | 10 30 2010 16:19:02 +0000
 I also agree with Sunita's view.
  Commented by  Ajay Hulji, NICMAR Student    | 10 30 2010 13:39:21 +0000
Failure is the pillars to success, we can learn many things from failure. Thanks for the referral.
  Commented by  Manoj Kumar, Sr: Manager - QA, ARCHETYPE GROUP, INDIA    | 10 30 2010 10:52:41 +0000
Rating : +1 
A good one Sunita....Let me summarize it with a great example

Sir Edmund Hillary was the first man to climb Mount Everest.

On May 29, 1953 he scaled the highest mountain then known to man-29,000 feet straight up. He was knighted for his efforts.

He even made American Express card commercials because of it!

However, until we read his book, High Adventure, we don't understand that Hillary had to grow into this success.

You see, in 1952 he attempted to climb Mount Everest , but failed. A few weeks later a group in England asked him to address its members. 

Hillary walked on stage to a thunderous applause. The audience was recognizing an attempt at greatness, but Edmund Hillary saw himself as a failure. He moved away from the microphone and walked to the edge of the platform. He made a fist and pointed at a picture of the mountain.

He said in a loud voice, " Mount Everest , you beat me the first time, but I'll beat you the next time because you've grown all you are going to grow... but I'm still growing!"


This is the attitude that has made most of the world renowned achievers to reach their goal in life!

The attitude of “ learning & growing” every moment in life!
Yes i agree with you Sunita, put the failures aside and start working again.. afresh...It reminds me of a quote "having lost sight of our objective, we redoubled our efforts". With regard to people who criticize you from behind, forget them..."Pay no attention to the people who talk behind your back...it simply means you are two steps ahead"... should be the password....Thank you for the referral...
  Commented by  Mohammad Bakhsh, Project Leader/Managing Consultant, Freelancer    | 10 30 2010 09:16:39 +0000
 Thanks,Sunita for referral.The write up is most inspiring one and is a lesson for those who mourns the start up.The failure is a temporary setback or phase.It should therefore be taken one more opportunity to start afresh.
  Commented by  Ishan Dave, STUDENT, EEC    | 10 30 2010 08:27:41 +0000
Just ignore the past failure & learn from it, life goes on & you have to move on.. we must remember that  behind every major success , there is a failure ,if it is not a matter of luck.. mourning can't be a solution for further problems but can be an obstacle to get confidence for future success. 
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