It’s every aspiring entrepreneur’s dream to have a very successful business. Unfortunately, the success rate of businesses is astoundingly not that impressive. Statistics show that very successful entrepreneurs experienced losses at some point of their lives and in fact, have failed at least five businesses. Absorbing such loss can be very hard. It causes a lot of psychological, emotional, and financial pain.
However, there are some ways how to take losses without feeling any pain. Here are some ways on how to deal with losses on a positive way and in the process, avoid feeling pain and becoming more productive.
1.) Condition your mind so it’s just a part of the process. If you experience losses, you either might have missed out something right or did something wrong. If you’re new, just live through the process and keep in mind that at this point, it’s the learning that will count more. It will make you wiser and better in the future. If you have prior experience already, such losses could be a result of either some conditions that are out of your control such as economic downturns. However, also assess yourself to determine if you have missed some things or have done something wrong. At times, even experienced entrepreneurs have a habit of getting complacent and missing minute details that could spell the difference between success and failure. Think about the solution and the lessons that you learned, and not on the failure. It will take the pain away and make you better.
2.) Detach yourself from material things. Detach yourself from money and you will spare yourself from the pain of losses. Condition your mind so you can win back your losses sooner or later. What most people do when they lose a lot of money is focus on what they’ve lost making them disappointed and frustrated in the process. If you’re not that attached to money, you can focus on other things like what to do in order to make your business grow. Ironically, most entrepreneurs that focus primarily or solely on money or profit seldom achieve massive success and in fact continue to struggle. Money or profit is just a byproduct of something that you do with passion.
3.) Give yourself a break. Losses can drain you emotionally and psychologically, and there is actually no point in trying to solve the problem when you’re bombarded with your losses. One very efficient and simple way for you not to feel the pain of losing is simply not to think about it. Make yourself busy and redirect your mind into something else. A good vacation or some time off may work. Give yourself a break for you to rest, both mind and body. If you redirect your thoughts into positive ones, you can get better, wiser, stronger, and could face challenges and solve your problems without faltering easily. Spend time with your family to inspire you and boost your morale. Things that simple do great wonders.
4.) Move on and think that you’ll become better after the loss. There is no substitute for positive thinking, and as what most successful people say, “what you think is what you conceive.” Your mind is the starting point of everything, hence the kind of thoughts you have are the kind of results you’ll get. Developing a positive attitude doesn’t happen overnight, and is not an easy thing to do. People are normally wired negatively, hence it will require some amount of effort to change such line of thinking. If you notice, most, if not all successful people are very positive people and no matter how hard the situation is, they always manage to find the positive things in it. Opportunities come to those who are positive and openly accept them. Negative people close their doors to opportunities and growth. Make it a point to always think positively and find the lessons in everything. If you’re a positive person and experience losses, you’ll never have a hard time turning things around, and you may not feel any pain or negative feelings such as regret, frustration, or disappointment.