A recent global survey showed that 80% of new startup disappears before the first 18 month , and of the remaining 20%, 95% cease to exist after three year
Failure is what we say” experiments going wrong”
Reasons for failure
- Lack of experience
- Poor location
- Low sale
- Unexpected growth
- Over investment of fixed assets
- Poor credit management
- Poor management
Entrepreneurs Dealing With Failure
- Be prepared.
- Find what can build your energy back up.
- Do not make emotional decisions.
- Have a strong support network.
- Do not take yourself too seriously.
- Disassociate the failure from yourself as a person
- Do not dwell on it.
- Understand what you are getting yourself into.
Failure is biggest success in life u
Failure is a result of an action
Failure should not be taken Personally
A majority of depression cases are somewhere associated with the fear of failure or failure itself. Failure should be not feared like a devil. It should not be taken too personally that it twitches with your mental well being and sanity. Make it very clear that
- Failure does not mean you are an idiot.
- Failure is not a scorecard of your life or what your future ultimately will be
- Failure has no parts and no favourites.