How to deal with failure

How to deal with failure
How to deal with failure

Africa-Press – Lesotho. TRY, try and try again. That is the guiding mantra Stephen Monyamane says must guide any budding entrepreneur. The reason is clear: they will stumble many times and it would not help if they then quit.

They must rise from the ground and try again, he says. “Allow yourself to heal so that you can bounce back healed and whole,’’ he says. In a space of healing, Monyamane says comes creativity.

Monyamane is the co-founder of The Entrepreneurship Network (TEN), a business association that trains entrepreneurs. When a new venture collapses, entrepreneurs should pause a bit before they resume another venture, he says.

Failure is part of the learning process in the entrepreneurship space, he says. “Get up, dust yourself off, identify areas of weakness that you need to improve on, and run again,” Monyamane says.

That is sound advice from a man who has seen it all on the business front. Monyamane says he started very well and everything he touched turned into “gold’’ when he first entered business.

However, with time things became a little difficult. “I lost almost M3 million in a space of 10 days in one of my businesses,’’ Monyamane says. The collapse of the business affected his emotional well-being.

Even when he had seen that things were not going to improve, Monyamane says he continued to dig himself into a hole, with disastrous financial consequences.

He says at that time, the wisest thing for him to do was to pause, stop and heal before coming back with more strength. In February this year, Monyamane says he took a break from his business.

“I decided to leave everything on one level when the business was still functional,’’ he says.

He says he had to pause his business dealings while he sorted his emotional well-being as well as physical wellness so he could come back whole and healed.

After a five-month break, Monyamane says he has now come back fully refreshed. He says he is now setting his eyes on renovating his business premises.

He says if one embraces and accepts his or her failures, one can reach higher levels of intensity. “The space allows you to be more emphatic, more intense, and realise that we are all human,’’ he says.

In a space of healing, Monyamane says entrepreneurs are able to realise the value of life. He says the space makes us realise that we are prone to mistakes that everybody makes.

He says entrepreneurs must seek guidance when their businesses go south. “The more you try, the better you get,” he says. He says entrepreneurs as well as those willing to become entrepreneurs should calculate costs before venturing into business.

Such costs include family time, personal wellness, and knowing what you are getting yourself into. He says entrepreneurs should also not neglect their spiritual wellbeing in times of business failure.

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