Updated: Jun 10, 2020
It takes a lot of courage to start a business without the fear of failing, but what keeps us from taking steps forward to success is the fear of shame.
Avoiding to fail early in business will only hurt you in the long run because you are not taking a chance to learn the things about your business that you can't learn any other way.
Take my experience with the first Wedding Lounge event for example. When I first started the event, there were lots of creative ideas and big goals to be achieved. However, even though being featured in some publications, the event's marketing promotion was not effective enough and so as a result the capacity of the event was not met.
The ability to bounce back as an entrepreneur is essential
When you are young startup, a situation like this can feel like the end of the world - and even just one failure can feel like the end of the road for a business, but as an entrepreneur with some years of experience, I needed to remind myself that failure is a learning experience. Rather than bury myself in thoughts that I had failed, I began to prepare better for the long term because I was able to figure out what works and what doesn't, and refocus on new strategies that will put me on the right path to success.
There is very little time for self pity, because in doing so, you are only causing more damage to your business. So firstly, learn; and then immediately take action to implement new practices or finding a new process that will lead to success and that was exactly what I did and now I'm looking forward to a more successful outcome for the next Wedding Lounge [party with the vendors] event 2021.
As a start up entrepreneur, you must be humble enough to accept failure and learn from the experience so you can quickly improve on it. Without learning from my past failures, I probably would have given up on my business by now but then, self-pity would have won!