Fear, it can stop us from doing almost anything and this can easily lead to depression. If you’ve recently lost your business, fear can be almost debilitating. Think about it, one day you were an entrepreneur – living the American Dream – the next you’ve lost what you thought was your ‘purpose.’
However, there is life after losing a business. In fact, for many the setbacks are what help to propel them to success. With that in mind, here are some tips on how to get your life back when your business fails.
Step 1 – Acceptance
Sure, losing your business stings but at a certain point, you need to accept that whatever you were doing didn’t work out and move on with it. This might not be the advice you want to hear but wallowing over the end of your company is the worst thing you can do as the realities of life don’t take any time off.
As such, the best thing you can do is accept what has happened and then work on a plan to get back on your feet. This should include small things like making sure you have enough money to cover your mortgage and groceries, as well as a broader plan to find a new job or to start a new company.
Depending on how dire your situation is, this might even include talking to an attorney to look over what options are available to help you get out of debt. If you do find yourself in this situation, then you might want to check out this link – https://www.getfreeofbills.com/. For some people, this might be just what they need to get back on their feet.
Step 2 – Make Time for Yourself
While you do need to move on with your life, you also need to make time for yourself. Losing a business can be a traumatic experience and as such you want to address those feelings head-on. Ignoring what has happened in your life is the last thing you want to do as it could leave you ill-prepared to tackle the next challenge in your life.
For some people, this might mean talking to a therapist, while others might decide to go on a cross-country bike ride, and others still might try their hand at volunteering. Either way, you need to find what is right for you to recharge your batteries.
Step 3 – Don’t Worry, Be Happy
A business failure might not be the happiest time you will everhave toendure but thinking negatively about everything will only poison your outlook on life. As such, you need to challenge yourself to think positive thoughts. Such actualization is contagious and the next thing you know other people will be feeding off your positivity and this will open doors to new opportunities.
Step 4 – Get Off the Couch
After a setback its understandable that you might want to binge-watch Netflix and order GrubHub all day. However, this might not be the healthiest way to deal with the situation. In fact, studies have shown that physical activity – be it mild or intense – not only improves your health but it also releases endorphins which can reduce stress.
Beyond this, you can think of a physical activity to clear your head and get you thinking about what is most important in your life. Sure, riding 100 miles on your bike is arduous but it also gives you a lot of time to think things over.
Step 5 – Start Making Plans
Just because your last business failed doesn’t mean that your next endeavor will. Many entrepreneurs missed the mark with their first business. As mentioned, the setbacks are what help you grow as a person and as a leader.
If you really want to turn things around, then start thinking about what you are going to do next. Maybe you can find a partner to work with or a mentor who can help you navigate the challenges which tripped you up the last time.
Step 6 – Get Visual
For athletes, one of the most important techniques they use is to visualize success. This works for us mere mortals as well. The trick is to think about where you want to be. Sure, you don’t want to live in a fantasy world, but a little daydreamingcan be good. The benefit of this is that it will help to focus you on what needs to be done to achieve that success.
Succeeding in business, like anything in life, is not always easy. But if you do find yourself facing a setback, then think about something your mother used to say – ‘if at first, you don’t succeed, try, try again.’