Some of the most satisfying feelings in the world are – finally finding the inexpensive object you had lost and have been searching frantically for hours, biting into a warm home-cooked meal after starving for several strenuous hours, that long interrupted sneeze you had been keeping and the glorious experience of the glimpse at the tip of ice-berg you assumed to be entrepreneurial success, that you’ve been so tirelessly working for.
One of the greatest, most satisfying feelings of the world is to see your efforts bring about success. You almost feel trapped in the time warp where you and your team have been working hard to add value to the works and lives of your clients, their businesses, stakeholders and the likes, and it feels like you have been doing the same forever now.
To entrepreneurs or just any adventurous soul who ever ventured into starting something knows that setbacks and obstacles are inevitable. But just because the path is rocky and you may stumble upon roadblocks, does not mean you should give up on your journey. You can still get things back on track to achieve continuous prosperity for your business.
Just like your assignment on marketing strategy, entrepreneurship is made of peaks and valleys:
Hopefully you did not presume while getting into B-school or into entrepreneurship thinking that it would be smooth sailing for everyday for the rest of your life. It is almost endemic for various starting processes to have high and low points, and especially so when it comes to building and running a company right from the scratch. The world of entrepreneurship is in fact full of stories of uber rich and mega famous people such as Richard Branson and T Boone Pickens openly speaking about the times in their careers that most people would love to forget. It is the unwritten rule of the business world that even the most smartest and talented of entrepreneurs have certain periods where they find themselves lost in the deepest and darkest corners of the valley.
View failures and setbacks as incredibly motivating:
We know how awful it may feel to be rejected from an offer, graded a failing mark on your written papers or meeting with failure in business. One thing to understand about successful entrepreneurs is that they do not fear failure, but they do not love them also. Once they have experienced what it feels like to lose, they move away all the stops for changing their situation and get back to attending the business at hand. Most great leaders feel the most motivated when their chips are the lowest.
So, when you fail at one of your MBA assignments or a business deal goes south, give yourself a predetermined period to mourn and then get back to moving forward with what you have to do. This is the most effective way to honour a setback while not allowing it to drag you down entirely.
When met with an obstacle, immerse yourself in generating new ideas:
A good MBA should take pride in themselves on being able to think creatively and strive to constantly generate new ideas. And that is what drives most B-schoolers to start their own business venture in the first place. Also effective leaders are very good at transmitting their excitement about an idea to others as well.
Collaborate with your trusted advisors to improve your work:
There is no better time to entrust on the closest of your peers, and advisors. The individuals you trust should be there for you to help you refocus your energy, assess what you did wrong and encourage you in all your upcoming endeavours. You need real friends to remind you that a setback doesn’t define you as a person, your work and dedication does.
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