Getting Back Up – Making Failure into SuccessPosted on July 31, 2013 by
It is as easy to succeed as it is to fail. Why does this sound untrue? Because most of us forget that we have a choice: we can enjoy the good and overcome the negative. What we must remember is that when we encounter something that we initially see as negative, we have a choice about how to react.
Did you know that Harland David Sanders, the famous KFC “Colonel”, couldn’t sell his chicken? More than 1,000 restaurants rejected him.
Or that Walt Disney was fired by a newspaper editor because he “lacked imagination and had no good ideas”?
Or that Henry Ford’s first auto company went out of business?
What made these people successful after so many “failures”? They knew that there are no failures, only ways to see set-backs as ways to improve. They had persistence—a desire to continue with their lives—a desire to overcome. They knew that they had the power of choice, that they could find success.
So why is it so difficult for many of us in business to pick ourselves up after we fall?
Because many of us don’t have a plan. Yes, we say we are ready for success–but what about when the success does not come when or where we want it?
Two Essentials to Overcoming Adversity – Evaluation and Action
THE PLAN: Use this process to succeed in business and frame all adversity in a positive light.
EVALUATE: Consider these questions when something unexpected happens:
- What is the event?
- What went very well with this event? What did you like best?
- What areas of this event can you improve?
- What can you learn from this event?
TAKE ACTION: Do more of what went very well, and make changes that will allow you to improve and have a higher rate of success.
Scenario 1: Recently, a person I was coaching was disappointed because his deal fell apart. The buyer backed out of the transaction.
On the surface, this looks like a buyer problem. It’s not. This is a classic management problem. Because this wholesaler did not qualify the buyers well enough to find out the restraints they had–their cash, their weaknesses, or their aversion to risk–he lost the deal. Had he done more investigating, he may have closed the deal.
Of course, you’re not going to have 100% control. But asking the above questions, the wholesaler saw that he should have better evaluated what the buyer needed.
Evaluation and information gathering give you more control over a done deal—more control over your success.
Scenario 2: I had a transaction that was ready to go, but my seller disappeared. After being upset, I picked myself up and evaluated.
Here is what I learned: I hadn’t given the seller something that they wanted, expected, or needed. It was difficult to realize that I may have caused the seller to end the deal. I could have blamed the Seller and been negative about the lost deal, but that would have done me no good. Instead, I got up, evaluated, and decided that I need to adjust my approach.
Everyone has shortcomings and strengths. Realizing both is essential. This system of evaluation and action will allow you to succeed much more consistently.
It is crucial to evaluate and adjust so that you grow and enjoy your business. The process takes only 15 minutes, and eventually, you will do it naturally because it is a tool that guarantees success.
Evaluation and Action are two essential tools. Simply reflecting on your set-backs will guarantee you improvement at a low cost and with low risk. It will allow you to look at set-backs as a way to learn—as a way to get back up and do it again—but better.
If you doubt what I am saying, think about Colonel Sanders, Walt Disney, and Henry Ford. They were normal people just like you and me, and they succeeded.
At this point, I am sure you are excited about the prospects of this process. You are asking yourself–How can I learn this process quickly and successfully?
You can do this by joining me and other successful investors at my Creative Deal Structuring Subgroup or contact me for affordable, low cost coaching. Let me coach you to learn the market and find your niche! I look forward to meeting you and supporting you on your way to a successful 2013!