Go Broke but Do Not Break Down


How to cope with the fear of failing

Risks are risks. There is no way around them. Well, you can avoid them but the feeling of not trying is more frustrating than failing itself.

The thrill of jumping into something and seeing how accurate your prediction about the result was, is the feeling most start-ups have. Depending on how the business was funded, the thrill might involve life and death for you.

To be able to achieve your goals, some risks are involved. This is not the wild kind of risk that is not founded on anything. This is not just ‘gut feel,’ no matter how strong some cling to it. This is about calculated risks wherein you are fully aware of the uncertainties involved (ironic huh?).

Calculated Risks
Since everything that lasts begins with a solid blueprint, it is best to take risks with a well-researched plan. A detailed outline of expectations, both positive and negative will help you out if things do not go your way. Plans involve funding, too. One of the reasons why start-ups are stuck in the beginning stages is the lack of funds. Some never start because of the absence of funds.

When things go the wrong way…
Let’s face it, most people fail at the early stages of their businesses. The reason why business TV programs become a hit is because of the size of its audience. Most of the people at some point will seek some venture into entrepreneurship, where there is always a certain amount of heartbreak.

If the fear of failing is crippling you and hindering you from achieving what you want, consider these two truths that you will never be able to deny.

Truth #1: It happens to everyone.
It seems that going broke is the baptism of entrepreneurship. Some decide to join the bandwagon of entrepreneurship in search of freedom from poverty woes. Some jump in because of a business gone bad and in turn, trying to save face and gain redemption.

The simple fact is that failures are as common as dust and wind. They are everywhere. What you need to work on is the ability to turn them into opportunities. Use them as open doors and keys to locked business potential.

In fact some have found failure as the beginning of their second wind.

Truth #2: Some of the greatest businessmen fared better after a big failure.
Call it a wakeup call, an ‘a-ha’ moment, the second wind, whatever. For some reason, the second chance (maybe higher) by these people were not taken for granted.

The likes of Steve Jobs, Churchill, and even Edison had to face rejection at some point in their lives. For some businessmen, they had to bring companies they lead down to bankruptcy before getting the things they have wanted for their businesses.

The key fact here is, failure is never a reason to quit on life. As a matter of fact, failures are good reasons to keep going.


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