This is What Failure Means & How to Deal With It. Hello everyone, my name is Samuel Balaoro, and welcome to the BE Mindset, a place for future leaders and personal development. If you are new here, follow us on Instagram for updates on new events happening in The BE Mindset community. We are in the final part of our Entrepreneurship Month. I know you will enjoy this one because we will be talking about what and how to deal with failure.

INTRODUCTION


INTRODUCTION

  I am really excited about this topic because I realized that no one was really taught how to deal with failure. We know how our parents and the system teaches us about failure, which is not really a good mindset. However, other entrepreneurs do not really do a good job on that either. What usually goes around is that we should learn from our failures and do better next time. But what does that even mean? We will be talking about that and dig deeper into it, but first, we will discuss how school taught us to deal with failure.

What Failure Means to Schools


What Failure Means to Schools

  The way our parents taught us about failure is the way the school teaches us about failure. In the system, failure is bad and we are punished for it. The way school punishes us is by taking something away from us, as our summer vacation or graduation. Our parents like to punish us based on how they were punished when they were kids or by other means. This adds on to making us hate failure in general, which should not be the case.

  I mean yes, nobody wants to fail because failing sucks. But if we decide to hate it, we will not take the lessons learned from it. Failure, like success, is meant to be there as a learning experience. And just like success, failure will not always be there. Success and failure come at different times in our lives, so we need to learn from both of them.

What Failure Means to Entrepreneurs


What Failure Means to Entrepreneurs

  To entrepreneurs, failure is another lesson to learn. This is why their explanation is so broad. The idea is common sense to them, but it is hard for everyone else to understand. Today, we will break the idea down for you to understand better. But first, let us talk about the different kinds of failures.

Types of Failure


Types of Failure

  I like to break up failure in two types. There are minor failures and major failures. It is quite easy to understand. Minor failures are the little failures that you do more often. Some are more noticeable than others. Major failures are the ones that can really hold you back for a while. It is hard to move forward with major failures.

  You can find that minor failures will turn into major failures when they add up. The way to approach them is similar, with one being more serious than the other. First, we will discuss how to deal with minor failures.


How to Deal with a Minor Failure

Acknowledge the existence of that failure.

  This is how you can avoid having that minor failure turn into a major one. If you do not acknowledge that failure, then you can make those exact same mistakes again. No matter how big or small they are, failure is a failure.

  Think of it as having a little hole in a dam. If you choose to ignore that hole, more holes can be made. Eventually, the dam will break apart because you ignored that little hole. Acknowledge that failure. You cannot make things better by choosing to look elsewhere.

Analyze the mistakes that lead to failure.

  Here is the first part when entrepreneurs say to learn from failures. You have to know the things you did that eventually lead to that failure. However, there is a difference between the mistakes you make and the mistakes an entrepreneur would make.

  The mistakes that an entrepreneur would make are calculated mistakes. Everything is scaled, so they are able to look at their analytics and insights to see how things went wrong and decide what to do in order to fix that mistake. Entrepreneurs are ready to take these failures because they knew the numbers. That is why these are called calculated risks.

  Now if the failure you did was not analyzed, you have to do the old fashion way of retracing your steps. This is not the easiest way to do things, so hopefully, you will analyze the risks next time. If you want us to talk more on how to create calculated risks, then subscribe to receive notifications of new articles. Once you have analyzed the problem, then you can do the next part.

Adjust and adapt to do better.

  Now, this is the main part when entrepreneurs tell us to learn from failures. You have analyzed the mistakes. What will you do next time so that you will not make the same mistake again?

  Sometimes the mistake you have made was really small. I suggest to adjust that mistake slightly and you might find better results. I will use advertising as an example. When you start an ad and you see that the conversion is too low, do not freak out. You have probably targeted the wrong audience. So when you try again, but with a different targeted audience, you might get better conversion.

  Another way to deal with your failure is to adapt. For example, let us say you started a business and you bought a commercial building for your business. But just your luck, the whole world goes into lockdown and you lose money from holding that building. What can you do? Adapt to the current times. In this case, it means to change to an online platform and build your own website.


How to Deal with a Major Failure

  Dealing with these failures is actually the same as dealing with minor failures. The only difference being is that these ones can really affect you. It could have affected you financially and/or emotionally. These are the hardest ones to bear. So instead of repeating everything we just said, we will talk about dealing with these failures from an emotional standpoint.

1. If you need to do it, then cry.

  This really goes to the guys because unlike the girls, guys do not really express their feelings. When we were young, we were forced not to cry and keep our heads up because crying is a sign of weakness. In reality, it is not and it is more beneficial if you do. If you do not express how you felt from that failure, then most likely you will hold that failure to heart. It will burden you and will make it hard to move on from it.

  There is a time to laugh and a time to cry. If it makes it any better, tell someone about it. No one will judge you for what happened. Choose the right person to be there for you and actually help you when you are at your lowest. Express your emotions when you need to.

2. When you are done, move on.

  It is perfectly fine to express your emotions, but you should not linger on it for too long. The problem with most people is that they hold on to that failure for too long that they let it affect their lives. It even begins to play with the mind thinking that they cannot do it again.

  You cannot let this happen to you. The world will keep going around and change. Time will not stop for you. You need to pick yourself back up and believe that you will not make the same mistake again. Once, you can get this in your head, then the steps we have listed earlier will be much easier to do. If your failure happened yesterday, do better today so that tomorrow you will succeed.

3. After everything, remember these failures.

  I know I just said you should not linger on the failure for too long. But what I meant is that we should remember that failure so that we do not do it again. It will save you a lot of time and effort for the next time that failure shows itself again. Another reason why people make the same mistake is that they forget what happened for it to begin in the first place.

  When I say to remember the failure, I mean to remember the process. Entrepreneurs have everything recorded through their analytics. This is the same for scientists whenever they are running experiments. If you have everything written down, then you can always look back to it as a reference the next time it shows itself again.

Something to Remember


Something to Remember

  Failure and success are both momentary. Just like a failure, there is a minor and major success. What makes success beautiful is that once you have it, you can replicate it in different variations to have more success. So do not be discouraged if you keep on failing. All you need is one success to make your life different. But you need to always stay on your feet or you might get caught off guard.

CONCLUSION


CONCLUSION

  Thank you for joining us today. Do you know what is a failure, especially for the time we are living in? Not trying to lower the cost of your home. Thanks to our sponsor Suntuity, you can lower the cost of your electricity bill by switching to solar energy. Achieve long term price protection from rising utility rates and start saving on your monthly bill with solar energy. Qualifying is easy, just fill out the brief form and one of their Solar Experts will reach out to schedule a free phone or video consultation. Try out Suntuity today!

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  We have reached the end of our Entrepreneurship Month. However, we will always be talking about entrepreneurship, so subscribe to our newsletter to stay up to date whenever new articles are released. Not only will you learn more about our articles, but we help you with tips and lessons to improve your life while guiding you through the week. Now if you want to read the first part of this series, you can find it here. If you have reached this far, comment down below how you deal with failure. This is The BE Mindset Group and always remember to be alive, be free, be happy, be you.

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