Every entrepreneur, at one point or another, has come across failures. And Dave Shah is no exception. Before starting his end-to-end software development company, Wve Labs, Shah had to face multiple rejections. Even his role model turned him down from becoming an intern at his company. But Shah never lost hope. He tried hard to work on all the negative feedback he had received. This experience pushed him to build Wve Labs.
As someone who has seen both ups and downs in his career, Shah provides five tips to entrepreneurs for dealing with failures.
- Don’t steer away from your vision
Every entrepreneur needs to keep their vision fixed if they want to see success for their business. No matter how many failures you come across, they shouldn’t deter you from your vision. It takes courage to embrace failure. But once you accept it wholeheartedly, you will be able to move on and put more effort in your next try to overcome the failure and achieve success.
- Always keep a positive attitude
An entrepreneur is the leader of a company. If failures lead to a negative mindset, it will reflect on your entire team. Shah was heartbroken when his role model had refused to even consider him as an intern. But he always kept a positive attitude. He didn’t complain. Instead, he enrolled himself at an entrepreneurship program at the University of Southern California. You should adopt the same positive attitude when dealing with such obstacles. Don’t let it become the source of your self-doubt.
- Evolve from your failures
Shah is a firm believer in constant improvement. He advises new entrepreneurs not to stop learning from their mistakes if they find obstacles in their journey. Evolving from those failures will make you a better leader for your company. Shah had learned about his weaknesses after many rejections in his entrepreneurial journey. He tried to overcome them by learning from the mistakes he had made that led to so many rejections.
- Don’t take failures personally
Failures don’t measure your self-worth. The last thing you would want as an entrepreneur is to doubt yourself and your vision. Taking failures personally would increase your insecurities and fears. When Shah’s role model turned him down for his internship, he could easily have taken it personally. But he didn’t. Instead, he worked hard and built his own company.
- Don’t drown in your failures
Spending too much time regretting your failures only yields humiliation and self-doubt. That shouldn’t be the mindset of an entrepreneur. Embracing failure is one thing, but thinking about it constantly will not improve the situation. You can, however, find ways to overcome those failures. For Shah, taking the leap and starting his own business was a game-changing move. Similarly, he wants you to find that push you need to move forward and work toward your goals.
Now that you know the secrets to overcoming failures, try to implement them and see just how big of an impact they have on both your professional and personal life.