Call it what you will. Hitting the wall. Crashing into a ceiling. Having the bottom fall out from under you. It doesn’t matter what direction it comes from, failing is a painful, devastating experience. For entrepreneurs who often have their lives wrapped up personally and financially in their businesses, failure can be difficult to overcome.
On one level or another, failure is certain. Yet everyone deals with defeat differently. And some find it very hard to move on.
If you have found it tough to gain forward momentum after a reversal, what is stopping you? Here are a few ideas on what might be happening and how to get back on track.
Hitting the Books
Have you been so focused on day-to-day activities that you haven’t kept up with industry knowledge? Is there a weakness in your foundational understanding? One great idea is to go back to the books and resources that are the bedrock of your expertise. Are they still relevant? If so, re-examine them, and, like watching a great movie a second time, allow new ideas to surface. Also, if you sense those resources are no longer applicable, seek out new ones to fill the gaps.
Another way forward, especially when you have hit bottom, is to reset your goals. Working without overall personal and business objectives is like being adrift on the open sea. You might end up on a beautiful island, but you’re likelier to have wind and current leave you in the doldrums. Take the time to become very clear on where you are going and how you plan to get there.
Going it alone is a possible downfall for anyone, especially entrepreneurs used to shouldering the responsibility for their organizations. It may be time to return to a mentor, someone who inspired and taught you along the way. Don’t let fear of admitting defeat stop you from contacting an important resource. If they are a true mentor, they will have themselves tumbled down mountains and have astute observations to help you climb back up.
Give Yourself the Gift of Time
You may also have to review your time management. The only person who can give you the time you need to succeed is you. For some, that might mean cutting back on personal time-wasting habits such as social media or television bingeing. For others, it may mean making difficult decisions to create revitalizing personal time such as exercise or meditation. The Dalai Lama wakes at 3:00 am for two hours of meditation each day before his day begins. Tim Cook, Apple CEO, famously gets up at 3:45 for personal time. The idea is that taking time to rebuild and reset is absolutely essential for getting your career back on track.
Once you begin taking these steps, you will find that the setback has made you stronger and more knowledgeable. Of course, when you are down it is hard to imagine, or hear someone tell you, that it is all going to be okay. That is why it is important to begin by taking practical, steadying steps as you begin moving forward again.