Learning from your previous Failure,
A winning Strategy

Every successful entrepreneur has dealt with failure in the past. What makes the difference is the way they managed and reacted to It.

Henry Ford said once, ”Failure is the opportunity to begin again more intelligently”; the problem is that usually when entrepreneurs make mistakes, they want to change directions completely, instead of adapting themselves to the circumstances.

Perhaps, if we understand what causes us to fail, it’ll be easier to respond in a way that we can use to our advantage, versus going into panic mode. That’s why I have decided to list here, the top four common causes of failure, as a tool for you to plan accordingly and avoid living in constant fear of failure; after all ”A life spent making mistakes is more useful than a life spent doing nothing” - G.B. Shaw

1. Good idea without a market: This is a classic example of failure, especially for women entrepreneurs. She has a fantastic idea (in paper), but not market for it. The truth is that, if you can’t sell your idea, then failure is inevitable, so don’t skim in research.


2. Poor planning: I can’t tell you enough, how important is to have a business plan for your business and ideas. The business plan is the map that you have to follow in order to get from point A: You, a woman, with the desire of becoming a successful entrepreneur; to point B: actually becoming one. Believe me, it's that simple, but most entrepreneurs underestimate the power of goals and business planning.


3. It’s all about timing: You may have the most fantastic winter jacket for babies, but if you launch your product in spring, your demand will be nearly zero, which is not good for business. The other problem you could have with timing is actually having a product so innovative that customers aren’t quite ready for it yet. This problem too could be solved with adequate amount of R&D.


4. Not considering "this" as an option: ”Failure is not an option” is a famous phrase from the movie Apolo 13, but so does another famous quote: “Houston, we have a problem”. The problem isn’t failure, but failing to know when to adapt and perhaps walk away. My best advice in this case will be, know your enemy so you can avoid it!

I’ve found in my practice there are two types of women entrepreneurs:

• One that knows that failing is an integral part of entrepreneurship, that it will happen to a certain degree and they should be prepared for it; and


• One that believe that she will never fail; even though she is conscious of all the risks and potential problems that tag along with being a woman entrepreneur.

Ok, but how do you learn from your mistakes, I’m sure is your question…

1. Lower your ego. It’s surprising how many of my clients can’t accept they have failed. Why? Ego, evil ego. Sure you can call it fear of family reaction, I call it ego; or not even noticing that you've failed, I also call it ego. It all comes down to, how do we see ourselves and what can we accept from our own performance; so lower your ego and accept your failure; that way you'll be on your way to learning, because your subconscious mind will be opened to it.


2. Step back, and use a magnifying glass.: This is not always easy to do, because you are so immerse in your mistakes that it’ll be difficult to identify what exactly went wrong; after all you thought it was a good idea to do it the way you did.
   Even Fortune 500 companies, that have an army of well qualified employees, hire consultants to help them identify problems, because it’s very difficult for people, to point out something that they have done wrong.
   For a woman entrepreneur, a business coach comes very handy and it’ll become very helpful when identifying mistakes, but more importantly in helping you to learn from your failure, move ahead, and still become a successful woman entrepreneur.

The most important thing I want to convey here, is that everyone makes mistakes, but not everyone is able to pick up the pieces and move on. This is the key to success: Perseverance; and if you add to that the other four soft skills of a successful woman entrepreneur: Confidence, Intuition, Optimism and Passion you will be set for success and learning from your failure will be a second nature thing for you.

“Is the hard lessons and mistakes that I’ve made along the way that have made me the woman I am today and have led me to success” – Carmen Shearer

Do you want me to help you learn from your failures and become a successful entrepreneur? Remember that you don’t have to reinvent the wheel. Let me show you how to do it.

Contact us today to take advantage of our FREE Discovery Coaching Session. Save thousands of dollars on mistakes, by learning from them.

Carmen Shearer
Founder and CEO
Entrepreneur Women Coaching and Training, LLC
(800) 980-3928