If you are currently entering the business world, the risk of bankruptcy and failure in business is unavoidable. Because as an entrepreneur, things like this will definitely happen. Even successful and experienced entrepreneurs will experience the bitterness of failure like this.
Dahlan Iskan, who is one of the entrepreneurs and the Minister of State-Owned Enterprises, said that if you want to become an entrepreneur, you must experience bankruptcy. Entrepreneurs must taste the bitterness of failure and bankruptcy when they enter the world of business or business. Because with this failure there is a turning point or even a fuel that will make a person rise and become a stronger person. So when you experience failure in running a business, you will certainly be faced with two choices, namely giving up or returning to achieve more success than before.
Then, how to rise from business failure so that it can be a turning point to be even more enthusiastic in trying? You can see the following steps:
1. Accept Everything That Happens Sincerely
The first way you can do to be able to quickly rise from failure is to accept everything that happens sincerely. When you can accept your current situation, of course this will help you to take the next step. A sense of sincerity and grace after experiencing bankruptcy will make you think clearly again. And you have to remember that circumstances don’t mean you give up.
Even though there are already tangled threads, there is still time for you so that all these problems can disappear and then be replaced with new threads. And you have to find a way out and then prepare yourself to get up again.
2. Identify the Cause of Failure in Advance
Then, the way to rise from business failure is that you have to identify the cause of the failure or bankruptcy that you are currently experiencing. If you do the identification, of course you will know the reason or the mistake you made. You need to find out where you went wrong. And from here you will learn and find solutions and innovations that must be done. And this second step will also help you to get up and be successful immediately after your bankruptcy.
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3. Looking for Other Opportunities
Well, for those of you who have experienced bankruptcy while running a business, try to get up by looking for other opportunities. For example, you are currently in the clothing business and it turns out that the business you are building has failed. Try to look for other business opportunities such as the coffee business for example. It could be that your success is in the coffee business that you are currently running.
If you just back off when the failure befalls you, of course this will only make you unable to get the success you want. You should look at other opportunities with more promising profits. But don’t forget, do a good marketing strategy then build your business brand so that it is more recognizable. Foresight in seizing opportunities is one way to rise from business failure that you can do. And you also have to know that no entrepreneur will be free from the risk of failure like this.
4. Adapting to the Changes That Happened
The fourth way to rise from business failure is that you have to adapt to all the changes that occur. Believe it or not, in recent years the industrial sector has changed with the advent of technology. And one of them is the internet cafe business which was later eroded by the presence of smartphones.
The existence of smartphones makes children not go to internet cafes anymore and finally this service is starting to be forgotten by everyone. Internet cafe services have also been replaced by smartphones where everything can be done in the palm of your hand. This is a change that you cannot avoid and some entrepreneurs often fail because of changes like this. And from here, the ability to adapt or adapt is needed. When the market is no longer interested in what you have to offer, try to find new prospects who are more in demand and generate promising profits.
5. Using Owned Network
If you are an entrepreneur who doesn’t want to fail again, then you should use the network you have today. Networking is very important for business people. Because when you have the network, of course you will avoid failure. And you don’t have to look for material support anymore. Because it is from this network that you will find a lot of valuable input where you can rebuild the destroyed business again.
But you also have to remember that having a network doesn’t mean you have to make these people feel burdened by the destruction of your business. Because this will actually make the network destroyed and your business can not be continued again.
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6. Stay Optimistic
Well, for how to rise from failure, the next thing you have to do is stay optimistic. If you want to rise, you must be optimistic and always think positive. If you experience something bad, such as failure, make sure you react to it in a positive way too. Because this is an opportunity for you to improve yourself and see where your strategy went wrong.
If you are optimistic, surely you will more quickly turn over a new leaf. You will also learn from all the failures you make. Because as a prospective successful entrepreneur, you must be able to take all the positive things that are happening right now. Learning from failure will allow you to bounce back.
For those of you who are currently building a business or business, look for an office that has a conducive environment so that it helps increase your productivity and you can also work more optimally. And don’t forget, provide various facilities because this will greatly support the business or business you are running.
7. Find Your Self
And finally, you must be able to discover who you really are. This is the last chapter you have to do if you want all your visions to come true. And you also have to set what your goals are so that everything can be measured and you can also achieve them more easily. Restarting a business by first recognizing who you are will help your business run and develop more optimally.
So those are some ways to rise from business failure that you can do. If you have done all of the above methods well, of course you will easily get up from failure and the business you are running will gradually develop and progress.