Are you planning about how to launch your start-up business? If so, then currently you might be enthused about it. You might be thinking about every minute aspect, like the brand logo, the social media page details, the local listings, the fan following, the sales, and many more. What if someone told you that while you are on your entrepreneurial journey, you might face challenges and fail? You will notice a change of energy between your previous state of being and now. The thought of failure is never comfortable with anyone. And it is here that entrepreneurs need to learn a few valuable lessons.
Why does Eric J Dalius consider failure crucial?
If you speak to leading entrepreneurs, you will find they all consider failure as a stepping stone to success. And hence, it is essential to embrace failure instead of fearing it. Eric J Dalius, a successful entrepreneur, says that anything that we resist will persist. The same applies to failure. He says that aspiring and young entrepreneurs should get comfortable with the idea of failure. That will help them to end the phobia and move beyond it.
“Failure isn’t permanent,” says Eric Dalius
Most entrepreneurs think that failure is permanent, and it is the end of their business venture. Failure is just a stage in your business due to a few circumstances and bad decisions. It could be that you started your new business idea when the economy was moving towards a recession. Or you might have joined hands with a wrong investor, who backed out at the last moment.
Eric Dalius says that entrepreneurs need to realize that failure doesn’t mean shutting shop. The moment you scan and analyze your decisions and business strategies, that was the reason for your defeat, you can correct it. There’s always a lot to learn from failures.
Think positive and progressive
Entrepreneurs usually start to get discouraged in the face of failure. The first thought patterns revolve around failure and permanent loss. But they must develop a positive mindset and work towards the future. For instance, if an investor has backed out and you couldn’t start production for a product on the committed date, start looking for another investor, but with more caution.
According to Ej Dalius, entrepreneurs should harbor an authentic bond with investors. Inform the current investor about the past incident. It will make you sound more assertive and help you build a sense of direction and assertion, an essential entrepreneurial quality. Also, you will know whether you are making the correct decision or not.
Finally, it is essential for business owners to concentrate on business growth and development despite all failures. If you aren’t able to start the manufacturing process, go ahead and boost your social media engagement, and promote the existing product line. It is necessary to beat failure with constant and proactive action. That will help entrepreneurs to shift their focus from failure and commit towards all that their business needs.