It may sound like cold, clammy comfort to hear you’re not alone after failing at a business venture.
Harvard Business School claims “most companies fail,” citing rates of up to 95 percent. But the real winning happens when you know how to get your confidence back after a setback.
No one wants to fail, and this isn’t going to be an instruction manual on how to fail. It’s just a reality that businesses do fail, and the best leaders don’t take it personally. You can even congratulate yourself for trying to make things work, then move on with the process of getting it right on the next try.
Review What Went Wrong
Quick, what’s your instinct after a setback or failure?
Do you rush ahead, trying to right the wrongs, put the embarrassment in the past, and select a new tactic right away?
That kind of drive and relentlessness is excellent, but it may not serve you as well when you need to focus on how to get your confidence back.
If you don’t think about what went wrong or caused the problem, the same issue may crop up again and again, despite your optimism and best efforts.
The Wrong Way
So you took a couple of wrong turns.
It happens to everyone in business.
To recover, get back on the road in the right direction, and not experience the same outcomes again, ask yourself the following:
- What did I rush, skip, or skimp on?
- Are there experts or experienced people I could have asked (or could ask) about the situation?
- Has this happened to me or anyone else I know before?
- Was anything out of my control?
- Did anything good come of the failure?
- Is the impact of the failure severe or something I can brush off?
- Are there any penalties, fines, or immediate issues to address before moving on?
- Could this have been prevented?
- Did I see this as a potential to happen or did it blindside me?
- Could this happen again?
Sometimes it helps to talk to someone else outside the business too, who can review your efforts and give you a fresh look.
Feedback may give you just what you need to know for how to get your confidence back.
Consider bringing in a new “squad” of people to help out in aspects where you had troubles.
If your failure came from financials, for example, you may benefit from laying out money to hire accountants or other advisors who are experts in areas where you are not.
There are just some things that you can’t know – you became an expert in your field and opened your business, but every single person isn’t able to know every single thing in the world!
Take SEO for example. (SEO is the business of search engine optimization, a moving-target of rules for how to get optimize your internet presence for both your target audience and for search engines to find you and best present you to that audience.)
Many businesses fail simply because they don’t understand it.
And these failures can be massive.
A couple of years ago, many companies experienced severe loss of income, penalties, and reduced internet visibility because they ran afoul of Google’s newly implemented Panda algorithm.
Some of those businesses never recovered and disappeared from the worldwide landscape.
Other companies took the failure to heart, learned what they needed to do to get themselves back in business, and executed those actions.
It’s not easy, but success never is.
How to Get Your Confidence Back from a Public Shaming
There’s bad news and… there’s bad news.
In this day of instant internet access, nonstop media connectivity, and constant mobile tracking, we don’t just fail privately.
We fail universally.
If your failure happened to hit the airwaves, it can seem like you’ll never know how to get your confidence back again. But it’s truly possible and completely achievable.
You need not stick your head in the sand or go into hiding forever.
After all, if major companies like Colgate, Ford, Coors, Ikea, Gerber, and Nike could fail in spectacularly public ways, and then recover from being essential parts of our consumer lexicon, you can, too.
In fact, it’s something of a positive that chances are, your own business failure will not be on the same level as organizations that have millions of followers, subscribers, and fans.
You have more room to breathe, try, fail, and recover.
Been There, Failed That
When you’re in the depths of despair and thinking about how to get your confidence back, you’re probably burrowed in at home somewhere, or behind closed office doors, not wanting to show your face.
Turns out, getting out is exactly one thing you should be planning on!
Ever hear about how misery loves company?
Well, that slogan isn’t always about dwelling or bringing others down to your sadness level. It’s about inspiring others or bonding and banding together to help each other up and out.
One way to get inspiration from and inspire others is to look for an industry group that serves the one you’re experiencing problems conquering.
The people in these organizations have been there and seen it all and they’re eager to help you learn from the mistakes and have more wins in the future.
For example, if you’re involved in the information technology profession, a group such as the Association of Information Technology Professionals may be just the ticket to turn your failure into a win.
Membership in groups like these includes:
- Educational seminars and conferences
- Social events such as dinners and networking
- Resources such as newsletters, webinars, blog archives
- Career counseling and job postings
- Opportunity for mentorship (giving and receiving)
- Classified postings
- Discounts on books, magazines, and other industry tools
Whether you attend a conference and speak up about your failure or post anonymously on the group’s private forums, you’ll find others who have been where you’re standing now and can help you turn it into a success.
Out of the Office and Into Some Confidence
Aside from burying your head in the sand or putting your nose to the grindstone to ensure a better outcome with the next effort, many business leaders won’t give themselves a break after a problem. Maybe they, like you, feel like they do not deserve to know how to get your confidence back.
Don’t be that person.
You do need a break, even if you messed up or were at the helm of a situation that just raged out of control.
And that’s a good, clean break away from the office, work site, or even your mobile/home workplace.
Think about what you do outside the office (you do get out, right?).
How do you enjoy spending your time when not at work? This is the key to letting go of the failure feelings and finding yourself again.
Whether you consider yourself a sporty type or not, working up a sweat may help you flush out some bad feelings along with an endorphin rush.
The University of Florida reported a study where exercise can improve body image, no rippling muscles or years-long marathon experience required.
It’s OK to fly solo, but joining a recreational league (dodgeball, anyone?) or group such as fitness classes at your gym may give you the increased bonus of socializing while you sweat.
Want to get your hands dirty?
Arts and crafts efforts such as painting, clay work, jewelry design, photography, knitting, and cake decorating can all get you out of your head a bit and even produce something you’ll be proud to show off later.
If you’re truly down in the dumps and down on yourself, consider dedicating a little bit of time to help others.
You may have experienced a temporary failure, but spending time volunteering is going to make you realize how to get your confidence back is sometimes affected by how you help others.
An ego that’s been knocked to the ground may be quickly revived by helping out visiting sick children, elderly nursing home residents, or homeless animals that just want some cuddles.
Catch Some Confidence Here
When you’re ready to get back in the game, it can help to have a coach, cheerleader, or some fans cheering your name.
Learn more about how to get your confidence back by clicking here.
Remember: A failure is only temporary. Winning is for life, so contact us today! We have seen executives from all walks of business in every stage of the game.
There’s no penalty for getting help on how to get your confidence back, either.
In fact, sometimes having another person in your corner helps you recover faster. Just knowing that you’re not alone, or working with someone impartial, can work wonders.
Send a message today about what you’re going through, link up on social media, or find out how to email or call for immediate help.
Take the first step towards the knowledge of how to get your confidence back and you’ll soon be on your way!