Ending Soon! Save 33% on All Access

Rise and Shine: 4 Ways You Could Put Behind Your Startup Failure What's failure more than an unsuccessful attempt? As Einstein said, "Failure is success in process" and if you believe in this, we have some tips to help you revive and grow stronger.

By Ritu Kochar

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock

No one likes to be told what to do in life, especially if you have suffered failure recently. "Learn from Failure" is what everybody will tell you but it takes more than that to actually overcome the great sense of disappointment one faces. It's infuriating to think of all the efforts you put in and then watch them crumble down. According to Wall Street Journal, 3 in every 4 start ups fail. With 90% of all startups failing, a failed startup looks nothing more than an unsuccessful attempt. Keeping this mind, if you somehow landed in the majority, surely you're not alone and surely you'll have a larger audience to understand your circumstances and how hard it was for you. However, if that is your plan, then I'm sorry but you are a failure.

Failure, on the other hand, is also a very subjective concept. What's failure to you might be a mere inconvenience in someone's way. A wasted effort. As Einstein said, "Failure is success in progress". It only eliminates your chances of going wrong again. And if you yearn to work with this state of mind, we have some tips to keep you going.

Avoid the Blame Game

Maybe your co-founder took the wrong decisions or your funding got messed up. No one cares what reasons led to your great fall. Learn from history -- everybody remembers what happened at a certain time, only a few know the actual causes. It's easy to blame it on someone else but in reality, what'll make you stronger is accepting where you went wrong.

Psychology says that with failure comes the feeling of rejection. It will also tell you that you will go through its various phase repeatedly– denial, fighting the urge to prove yourself right and several other stages. It is the end you have to wait for – the acceptance. And acceptance is often succeeded by the will to rise again. Once you have this will, there is no stopping you. Acknowledge your flaws rather than avoiding them and work on each one of them. Think the whole process through and start a new endeavor. Even bad experiences are invaluable, so if you do make the same mistake you'll know what to do.

Don't hesitate to take risks again

One always faces hesitation when it comes to taking risks again, especially when the ones you took in the past were futile. The 71% who didn't bother to start again makes this apparent. The word failure will be thrown at you at every corner but you must never underestimate its benefits. It keeps you on track. When reality is thrown at your face, you discover something success can never teach you. Success takes you ahead in life but it is failure and how you survive it that builds your character. Everything happens for a reason and sometimes the reason is that you made bad decisions. Laugh it off and add it to your story bank to tell people when you're successful.

Let's go by facts. As stated that 90% startups fail, 71% entrepreneurs never make it back in the business. The reasons are unknown and honestly, no one bothers to know more about failure. What matters is if you are a part of remaining 29%. A research conducted in the Stanford and University of Michigan states that "failed entrepreneurs are far more likely to be more successful in their second go". And why wouldn't they, they took what Frost calls "the road less taken' and that will "make all the difference'.

This time GO CRAZY!

Failure makes people feel sorry for you and you feel sorry for yourself but you will never get anything out of it other than their empathy. It's comforting but it doesn't pay bills, does it? Go a little crazy this time and engross yourself in your ideas. Find what was missing in your idea that botched to connect with people and look for the right partner that will complete that thought.

Take feedback

Talk to people who used your startup and pay attention to their feedback. Analyse and understand the loopholes and the deficiencies. Starting afresh takes effort but you'll find a new side of yourself and your creativity in the process.

At the end it's you and only you who'll know what to do. But if there's a time when you lack motivation and you feel trapped, here are some reassuring words to encourage you from none other than the great Obi-Wan Kenobi – "If you strike me down, I shall become more powerful than you can possibly imagine."

May the Force be with you. What do you think? let us know at our official facebook page Entrepreneur India

Ritu Kochar

Former Staff, Entrepreneur India

Ritu used to work as a Feature writer for Entrepreneur India.
Leadership

How to Break Free From the Cycle of Overthinking and Master Your Mind

Discover the true cost of negative thought loops — and practical strategies for nipping rumination in the bud.

Leadership

How a $10,000 Investment in AI Transformed My Career and Business Strategy

A bold $10,000 investment in AI and machine learning education fundamentally transformed my career and business strategy. Here's how adaption in the ever-evolving realm of AI — with the right investment in education, personal growth and business innovation — can transform your business.

Side Hustle

These Brothers Had 'No Income' When They Started a 'Low-Risk, High-Reward' Side Hustle to Chase a Big Dream — Now They've Surpassed $50 Million in Revenue

Sam Lewkowict, co-founder and CEO of men's grooming brand Black Wolf Nation, knows what it takes to harness the power of side gig for success.

Business News

Now that OpenAI's Superalignment Team Has Been Disbanded, Who's Preventing AI from Going Rogue?

We spoke to an AI expert who says safety and innovation are not separate things that must be balanced; they go hand in hand.

Business News

A University Awarded a Student $10,000 for His AI Tool — Then Suspended Him for Using It, According to a New Lawsuit

Emory University awarded the AI study aid the $10,000 grand prize in an entrepreneurial pitch competition last year.

Science & Technology

3 Major Mistakes Companies Are Making With AI That Is Limiting Their ROI

With so many competing narratives around the future of AI, it's no wonder companies are misaligned on the best approach for integrating it into their organizations.