Disappointments are inevitable in life, so your small business endeavors are no exceptions to this: Your new business failed to generate any profits in the first few months, a lead or referral failed to convert into a business opportunity, a prospective sales meeting turned out to be a dud; a client expressed disappointment with your work, your partner quit, your new campaign failed to generate the necessary buzz… the list simply goes on. How successfully you are able to deal with these negativities, failures, disappointments, and criticisms and still strive to make your small business grow, shows the kind of mindset you possess i.e., either a limited mindset or a growth oriented one. Your resilience would ultimately determine the future directions of your business. 80% of women entrepreneurs end up quitting in the first year of their business because they are unable to cope with difficulties, competitions, disappointments and failure. The 20% who are able to survive and thrive may not be the most innovative and talented ones but are certainly more spirited, tenacious, and resilient than the rest of the lot. Here is what these entrepreneurs do differently than others when it comes to dealing with entrepreneurial struggles, failures, and disappointments:
They Acknowledge their Feelings
Growth oriented women entrepreneurs are more likely to acknowledge their feelings related to failure and display their emotions. They don’t keep things bottled inside till they break. They internalize the process as well as externalizing it in meaningful ways. This unique ability gives them a default advantage of getting over their disappointments and failures more quickly and getting back in the game.
They Seek and Give Support
Mentally strong women entrepreneurs are more likely to talk about their complex feelings related to failure and disappointments in their support circle, and seek emotional support rather than suffering in silence. They use their feminine traits of relationship building, compassion, nurturing, and empathy to build a circle of trust and care, and draw strength from it in times of need. As a result, they are more likely to purge their negative emotions, recover quickly from their disappointments and get back on track.
They Are Unafraid to Ask for and Give Help
Unbound by her ego, a women entrepreneur is not shy and afraid when it comes to asking for help from those who are more knowledgeable and experienced than she is. She understands that asking for help when things go wrong will allow her to resolve the problem quickly, fix mistakes and learn from them, and make quick progress. Likewise, she gives others her time and assistance generously because she believes in spreading good karma and feeding the spirit of abundance in the Universe.
They Look for Solutions, Adjustments and Compromises
A women entrepreneur with a progressive attitude doesn’t possess a “my way or the high way” attitude. She tries to understand her clients’ and partners’ needs, and looks for ways and solutions to accommodate them. She becomes flexible, reassesses her own goals, and looks for newer ways to reach them. She works with the belief that she can help people and can also build a successful business on this principle in the process of helping others.
It takes a lot of spunk to run your business in the real world, to be able to put yourself out there, allow yourself to make mistakes, become vulnerable, open yourself to criticisms and disappointments, be willing to look vulnerable and even stupid, assess where you went wrong and why, and gather the courage to get back up on the horse after a knockdown and get going again as if nothing happened. Over the years, as a serial entrepreneur, I started lots of side businesses; some failed, but many thrived. Had I given up on the initial failures, I wouldn’t have been able to reach where I am today. Resilience and a strong mindset do wonders for you.
I am Luci McMonagle, a Miracles Abundance Coach. I conduct personalized sessions with businesswomen so as to help them recognize the blind spots, self-sabotaging patterns in their businesses and life, and replace them with healthier, more productive attitudes and mindset. Most clients that work with me are able to make positive changes in their mindsets, their work styles and lifestyles, and experience transformative results in a matter of months. My coaching calendar is booked ahead for months by lots of ambitious and spunky women, but new slots open up as well, as I get free. So if you are serious about your business, book a complimentary assessment with me today. We will figure out what you need right now to help your business grow: resources, referrals, or anything else.