When Failure Is The Only Option {Episode 61}

What do you feel when you hear the word "failure?" Does it make you cringe? Worry? Stress or shiver? Most people have only negative connotations to the word "failure", but when building a small business, we have to get up close and personal to this concept and start to reexamine it.

Instead of seeing our business building adventure as a series of small failures, instead I want us to look at it as a series of experiments. This is how every business is built and getting comfortable with these experiments is critical if you're going to succeed.

But sometimes, it IS time to fail, or in other words, close our doors or do a major business pivot. What will we make THIS mean about us as entrepreneurs? Will we let it affect how we view ourselves? Does the success or failure of our business mean that we ourselves are either successes or failures?

We're going to talk all about this concept today, and teach you how to reframe failure in a way that will serve you in your business and in life, forever.

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00:30 Understanding Failure in Business

02:04 Reframing Failure: Lessons Learned

02:44 Reality vs. Expectations

03:36 Applying Lessons from Failure

05:55 Separating Personal Identity from Business

14:20 Commitment and Timeframe for Business Success

18:40 Evaluating Your Business: What Works and What Doesn't

19:43 Seeking Divine Guidance in Business Decisions

22:16 Making Fearless Choices in Your Business

26:11 Redefining Failure and Success in Entrepreneurship

30:41 Personal Story: The Journey of Novalie

33:42 Embracing Failure and Moving Forward