We all have heard the age old saying, “Try and try till you succeed.” Most of us have used this as a cornerstone for achieving goals and overcoming failures. We don’t realize that as true as this statement was for us as children, it is just as true for adults. In a start up environment, no saying holds more importance than this one. That is because the field of entrepreneurship is fraught with risks and entrepreneurs are likely to fail multiple times before they succeed.
Success comes after failure
This is the never-ending circle of good and bad. Success comes only after failure. If you fail, the best thing to do is pick yourself up and try again. If you have an idea and it doesn’t work, that is fine. Look at it from a different perspective, modify it to make it better and try again. The idea or the service will eventually work if the market has an unfulfilled need.
Failure isn’t the end
When we hear incredible start up success stories, we don’t hear about the multiple failures behind that success. Some of the most successful entrepreneurs have faced multiple failures in their past startups before hitting on a successful idea that worked. Imagine if these people gave up; imagine if Steve Jobs gave up, would we have Apple? Probably not. Failure is not the end of the journey; it is only a learning lesson to reach your destination.
The What If trap is the most dangerous. Once you fall into it, it takes a lot of effort to come out. What if I had made the presentation differently? Would I have received enough funding? What if I had pitched my idea before the other group? Would they have picked me instead? Take the risks you think are necessary because you will only regret not taking them in the future. You never know, that risk might take your company to great heights. That one modification in your prototype might make your product accessible to millions of people. You won’t know until you try.
Enjoy what you do
Each failure is worth it if you gave it your best. Do things that you enjoy, even if it leads to failure. At least you won’t be left with the regret that you didn’t pursue your passion. Don’t be an entrepreneur because that seems like the latest fads and all your peers have their own startups. If that is the reason for your new venture, you are in it for all the wrong reasons. Everyone defines failure differently. Your failure doesn’t mean you quit or you weren’t good enough. All it shows is that you were brave enough to try. Only next time, try harder.
Entrepreneurs set their own definitions about success and failures. Each individual with an idea measures these two things differently. The CEO of a tech startup with a $1 million funding might be unsatisfied because it falls below his expectations, but from the outside it seems like a huge success. Similarly, even though a $50,000 investment might seem very small to an outsider, for a novelty gift startup, it is the right amount to take their business further. Do not stop trying for fear of failure.