Featured in Alltop StartUpRoar

Wednesday, March 30, 2016

5 Fails entrepreneurs may never recover


 
What happens to us now that the business failed?

Failure can be a learning experience and recovery is common for many entrepreneurs.  Some of the most successful business people have failed and recovered before gaining their successes.  There are a few losses or failings entrepreneurs’ may never recover and regret.  These are often more than the business failure which can often be rebuilt.

It is often hard to reach a lifestyle balance when so much time and energy are required.  Travel may take you away for much of your business life.  You are spending excessive time trying to get the business off the ground and then then spend more time because the business needs constant care to grow.  There are a thousand reasons entrepreneurs find their loss of personal time.   The excuses are all valid and finding that balance can require more effort than building the business.  The reality is that time does not stand still resulting in the possible that a few important things you hold near and dear get lost in the shuffle.  Their loss is something you may never recover and you may regret having never spent more of that valuable time holding on to these.

  1. Time:  You will never recover lost time and days because you continue to get grow older.  Things you thought would be fun, wanted to see, or had dreams of doing someday tend to slip away.  There is never enough time to get to everything especially when you are so motivated in building your business.  Consider finding one or two of these special things that could be added to the “to do” list.  Why lose all of them!

 

  1. Family:  People do not live forever, an important fact to remember.  The recent death of a few friends points to how quickly loved ones can vanish.  Your children grow and eventually leave home.  You may miss those precious times watching them in school events, seeing them date, or going on family outings. If you are not attentive, your significant other may grow weary of you not being around.  Sometimes, they grow distant or find other things that take them away.  Try to remember that occasionally there is no tomorrow and find a way to enjoy those special people in your life today!

 

  1. Education:  Education occurs in many ways.  Learning on the job is one type while the more familiar is school.  Putting off learning about something you always wanted may place you in a position of never learning about it at all.  Some want advanced degrees while others want to learn special skills.  Try to make time to learn those things important to you or you may regret it!

 

  1. Interests:  Developing interests and hobbies seems like a waste of time when you are so involved at work.  It may seem a poor use of time, but those interests can be helpful and turned to an advantage.  Reading books, taking on hobbies and volunteer work are areas for discussion that may make you less boring. Being with a group of people and the only topic you can discuss is your work makes you less interesting.  Finding a way to develop a few special interests allows you to connect and communicate better; a true benefit when trying to grow a business.  Try developing a few interests that you find enjoyable so you can become well-rounded and less boring!

 

  1. Property:  Many entrepreneurs borrow against their property to build the business.  This can result in loss of your home and create hardship for your loved ones.  The first thing your family will find of concern is what happens to them in those bad times.  It is important to remember that you are not the only one affected by financial losses.  Try to put away funds for a rainy day so you can provide extra insurance that ensures your loved ones are safe!

 

 

 Taffy Williams is the author of:  Think Agile:  How Smart Entrepreneurs Adapt in Order to Succeed to via Amazon