How To Deal With Business Failures Like A Boss

Leaders are made! While it’s true that some people are predisposed to natural leadership, that isn’t the case for most of us. Sure, those with an aptitude to lead might have a head start, but anyone can be a leader if they have the courage and passion to pursue what they want.

You must have the desire to learn, the discipline to see things through and the right mindset to deal with the many ups and downs along the way.

One of the things that set leaders apart from everyone else is how they respond to failure.  They handle it differently than most. Their thought process and their experiences have equipped them to deal with defeat in a way that allows them to keep growing, rather than stop them in their tracks.

Want to be an exceptional leader? Learn from them. Emulate their actions. Think the way they think. Deal with failure like they do:

They understand that they aren’t alone

There is nothing unique about your situation. Thousands have gone before you and experienced similar hardships. Give yourself permission to make mistakes. Just dust yourself off and learn from them.

Ever heard of Steve Jobs, Richard Branson, Walt Disney or Bill Gates?  What do these leaders have in common? They have all experienced complete and utter failure. In fact, most of these multi-millionaires have declared bankruptcy (about 3.5 times on average). The key is that they also picked themselves up again.

The most successful leaders accept failure as part of their journey.

They don’t take it personally

How do most people react to failure? They’re self-deprecating. They belittle themselves and start to believe that they are less than. How many times have you doubted yourself as a result of a failure?

Leaders think differently. They can separate themselves from their failures. They have the ability to recognize that it was the idea that failed and not them specifically. They also understand that some things are out of their control. Each failure is viewed as being closer to a solution.

You are not your failures.

They own up to their failures

Ever notice how when something goes wrong, people are quick to point the finger at someone else? People have a hard time accepting responsibility for their failures. They don’t like to be wrong.

Leaders, on the other hand, take responsibility for their failures. They own up to them. They realize that blaming others doesn’t bring about a solution. It only perpetuates the problem. Everyone makes mistakes. It’s okay to admit to them. The key is to learn from them and avoid repeating the same ones in the future.

They get by with a little help

One of the biggest misconceptions is that asking for help is a sign of weakness. No one knows everything and true leaders don’t pretend to.

They aren’t hesitant to talk openly about their failures. By doing so, they open the doors to solutions.  How often have you found a solution to a problem by hashing it out with others? Chances are someone has an idea that can help. If not, hire someone who can help. Leaders aren’t afraid to hire people who are smarter than they are.

They prep themselves for success

No one wants to fail. It can wreak havoc on your mindset and set you back. It’s what you do post failure that makes a difference. Just get started again. The size of the task doesn’t matter, as long as you keep moving forward.

A true boss doesn’t let failure slow them down. Rather than take a step back, they charge forward. They keep their nose-to-the-grindstone and dig even deeper. That doesn’t mean they ignore their failures. In fact, they simply accept failure as feedback. They use it as a tool to become better and stronger than before.

Remember; failure doesn’t define you.

Every failure brings you closer to success. The trick is to keep forging ahead even when you feel like there’s no light at the end of the tunnel. This is what separates the true leaders from the rest.

In the famous words of Winston Churchill:

Success is not final, failure is not fatal: it is the courage to continue that counts.