All entrepreneurs experience failure. It’s a natural part of business. Rest assured there is no success where there is no risk. There is no rise without the ebb and flow of ups and downs. Success favors the bold. The secret is taking bite sized risks that will allow you to learn and recover. This practice is also known as testing and/or iterating. Being calculated is important, but over thinking very often leads to analysis paralysis or lack of action. Where there is no action, there are no results. It was once said you miss every swing you don’t take. As a rule of thumb, the bigger the risk the bigger the reward. My Grandpa, a life long gambler once said, “I never bet all of my beans, I only bet what I’m willing to lose”. I don’t recommend gambling, but I do recommend not betting the farm. A great way to hedge your bets is by increasing your knowledge, connections and resources in your particular field. This way when an opportunity arises that requires a bit of risk, you can move swiftly, calculated and confidently.
There may be some of you reading that have not fully recovered from past failures. My advice to you is to wipe off the dust and get back on the horse towards your dreams. Keep it moving. Anticipate future lulls as they always come. Most importantly, expect future wins.