Transform Business Setbacks into Successes with These Powerful Strategies
When we run a business, we often find ourselves enthusiastic about creating something brand-new—a product or service that we are sure will sell. To be disappointed afterward that it didn’t generate the sales numbers or enrollment we had in mind. And we throw it out and start again!
Yep, I know, been there done that… OFTEN! And believe me when I say it is very foolish to do!
Instead, you want to see why it didn’t work, reflect on it, and fine-tune it, then launch it again! This turns out to be a much better strategy and it turns out that it is also a better strategy for other things!
Let me share with you a story about my recent jog/walk experience.
At the beginning of the year, I set the intention to go for a weekly jog/walk. Just once a week because that is something I can manage, it gets my heart rate up, and it contributes to my well-being goals. I follow a start-to-run program, from 0-5K. Normally, the program levels up every week, but because I only go once a week, it’s taken me a while to get to where I am today.
Two weeks ago, I was ready to go to the next level in the program. I was a bit apprehensive, but to my great surprise, it went really well! My joy was, however, short-lived. Because last week, I did the same program and I couldn’t even finish it. Instead of throwing everything out of the window—all my hard work of the past seven months—I reflected on why it could have been that it didn’t go well. What could I change and fine-tune?
I realized that the difference between the two weeks was that I went a lot later in the morning, thus the temperature was a lot higher. So, I went earlier again this week, and guess what? I not only managed to get it done, but I even managed to get to the 5K. There are still 2 x 2 min of walking in between, but that will be for next time!
So why do I find it easy to look at the bigger picture, reflect, and fine-tune while in business, we so easily forget all that hard work we put in and just chuck the baby out with the bathwater?!
Reflecting on this personal experience reminds me of a similar situation I faced in my business. I created an in-person group coaching program that I was passionate about. I launched it twice, but to my disappointment, I got zero takers—none at all!
It was disheartening, to say the least. However, instead of scrapping the whole idea, I decided to reflect and fine-tune. I came up with a plan, changed the title, reviewed the copy, and revamped the promotion strategy. Now, I’m thrilled to say that I’m running a fully booked program as we speak!
Imagine if the Wright brothers hadn’t tried again and again. If they had given up after their first few failures, we might not have the advanced aviation technology we enjoy today. Their persistence not only led to the first successful flight but also paved the way for global exploration and discovery.
So why do women entrepreneurs often fall into the trap of self-sabotage and give up too quickly?
There are several reasons:
- Perfectionism: Many women hold themselves to impossibly high standards. When their efforts don’t yield perfect results immediately, they see it as a failure rather than a step in the learning process.
- Fear of Judgment: Women often fear being judged harshly by others, leading them to avoid taking risks or trying again after a setback.
- Imposter Syndrome: This pervasive feeling of not being good enough can cause women to doubt their abilities and second-guess their decisions, leading to inaction.
- Lack of Support: Without a strong support network, women might feel isolated and overwhelmed, making it harder to persevere through challenges.
Recognizing these tendencies is the first step towards overcoming them. By reflecting on our experiences, fine-tuning our approaches, and giving ourselves permission to fail and try again, we can build resilience and achieve greater success.
Reflecting and fine-tuning are essential practices in both personal endeavors and business. By taking the time to understand, adjust, and improve, you set yourself up for greater success and fulfillment. So next time something doesn’t go as planned, don’t discard it—reflect, fine-tune, and try again.
You got this!
Peggy
P.S. Could you need some support yourself? Then check out my 1:1 coaching program Forward Focus before you throw away all your hard work!
