Failure Can Be Good for Your Business

Learn From Failure

Seven steps to get past a failure and turn it into a success.

According to a recent study by American Express OPEN Forum, there are over 9.1 million women owned businesses in the United States.

9.1 MILLION!

And statistics show that 1200 women owned businesses are launched every day. Yes, I said every day!

Oh yeah, we’re doing the girlfriend happy dance over here! #makingmoney #womenrule #boysdrool WAIT before you quit your job, tell your husband you’re taking over and launching your jewelry business…there’s a sobering statistic we can’t ignore. Bloomberg reports that a staggering 80% of businesses crash and burn within the first 18 months.

The fact remains – women FAIL quite a bit in business!

Put down your ‘I hate Coach Jenn Lee’ sign and stow your anger; I am a strong supporter of women and their businesses.  Heck, 75% of my clients are women. I’m all about women and their success. 100% #girlpower over here!

I travel quite a bit speaking to entrepreneurs – from dreamers who have just launched their business to the warriors who have persevered for year. Here are the seven lessons I’ve learned from those that have failed and what to do about it. If you find yourself relating to even one of these, call me…We need to talk ASAP! Ok, here we go

Money? Shhh, it’s not crass to talk about it. There’s this odd stigma from the past that haunts us and I don’t’get it. ”It’s not nice to talk about money, dear.” Don’t talk about money? How can you not! Business is all about money. Making it, saving it, spending it wisely. If you have the guts to start your own business, you best start talking about the Benjamins. Getting over this fear helps you get a stable footing for your foundation to grow.

Yes, I did that, but it’s no big deal. Have you ever had someone tell you that you did an amazing job only to shrug and say it was no big deal? Ok, you seriously need to STOP THIS! Owning up to what you’ve accomplished will train your brain to realize that you are worth every penny you’ve invested in yourself (and your business!)]

You want me to do what? Um, okay. Sure. You’ve said yes to everything put in front of you and suddenly you’re balancing a business, a family, and somehow you’ve found yourself agreeing to work the coat check at next week’s women in business luncheon. If you overbook yourself and say yes to everything and everyone who asks, how will you find time to get everything done in your business? Prioritize your needs, both business and personal, before everyone else. Remember that saying, ”you need to take care of yourself before taking care of everyone else?” Live it, learn it and reap the benefits!

What am I here for? One of the biggest reasons women businesses fail is lack of vision. The the one at the helm of the ship doesn’t truly know who they are, the mission of their business and their sails adjust whichever way the wind blows! Take the time to ask yourself the deep questions about what you really want from yourself and your business. What’s the bigger mission? Once you get to the root of it, you can start moving in the right direction.

Can I really do this? Doubt kills. Seriously. Stop doubting every decision you make. You’d be surprised at what will happen if you focus your energy on just doing the right things on a consistent basis. Try to detach from the outcome of your actions. You can’t predict every response, but you can propel yourself every single day!

But she does it so much better. Another thing that kills, comparing yourself to the success story on TV! Can I let you in on a little secret? The women whom you so admire, who is doing exactly what you want to do – she was once you. She started out with doubt, comparing herself to others, unable to tell even the lady at her grocery store no. As my friend Tory Johnson always says “we all start with one.” Go for it. Seek out the resources needed to get it right. Hire a coach, connect with a mentor – gain the resources needed to make the right choices.

Success scares me. Picture this, you’ve mastered it all and as soon as you start to reach the summit, fear creeps in. You’re paralyzed because if this new strategy works, you’re phone will start ringing off the hook and business could boom, like really BOOM and…”well, how will I handle all of this?” The fear of not being able to fulfill the promise to your clients, the fear of working more hours than you expected, and yikes the potential GREAT FALL of you is right in front of you. MAKE IT STOP! Don’t be afraid of getting everything you’ve worked so freaking hard for! You deserve every ounce of success coming your way. Open your arms wide and take credit for what you’ve worked so hard for. Heck, I tell my clients shift into high gear, when the phone starts ringing we’ll figure out the logistics.

Once you’ve overcome these potential downfalls of failure, you will be nothing but surprised at the kick butt business owner you’ve morphed into. You’ll be the one people turn to for advice, the one they look up to. Instead of coat check, you’ll be on the big stage giving the presentation.  Stick with me, girl. You’ve got this, really you do.

Jenn LeeCoach Jenn Lee rocks the entrepreneur’s world through marketing madness, high-energy speeches and money-mindset maneuvers! Small business owners are booming from her insight shared on Fox Business News and local stations across the country, and national publications, like Success Magazine. Get more @coachjennlee

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