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Ep17: Rebounding from Failure

Uwem October 3, 2016 124

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Dear Entrepreneur,

Failure is part of your Entrepreneurial Journey because it is risky and has no-assured guarantee of success.

Sometimes it feels like all the odds are against you and every step takes you some steps backwards rather than forward.

It is worthy of note that every successful entrepreneur has failed at one point one time or the other. You can listen to our episode with Yusufa and Mommar to hear them describe how they found a way to succeed even in the face of adversity.

Here are some of the key points from this episode:

  • Be prepared to fail
  • Don’t feel defeated, accept the pain and move on.
  • Take responsibility but don’t drown in self pity.
  • Plan plan plan!
  • Take note of all the lessons
  • Get a strong team and be accountable to someone.
  • Be innovative with the process not just the product.
  • Make changes, downsize if you have to, pivot if your services or products arent doing well in the market
  • Don’t be afraid to start again
  • Whatever you do, thou shall not quit.

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