Why a business failing is not actually a failure

Gareth BuckleyBlog

What does mindset mean in business?

Finding success in failure

If a business fails it does not make an individual a failure! Instead it makes them incredibly unique, courageous and fearless!  There are numerous websites that define the characteristics you need to start a company. The considerations one must bear in mind, the sacrifice, the necessary skills and the financial capital investment. Consequently, it’s understandable that many people sit on a business idea for months, years or perhaps never pursue it. So surely for those that take the leap into investing in their own business, and truly believing in their idea are in fact the brave ones?

The 2% Mindset

The 2% Mindset is a theory that only a small proportion of the population will actively chase their dreams with confidence and excitement! 98% of the population like to remain in their comfort zone. By playing it safe and settling for what they have. This means that of the 67 million people in the UK.  Only 1.3 million will leave their comfort zone, act in spite of fear and embrace the unknown.

Celebrate the ambition of starting a business 

So why when a business, that only 2% of the population would have had the tenacity, drive and ambition to open, doesn’t go as planned is the perception that they have failed? Why do we not celebrate that they tried? That perhaps there are so many external forces which are the reasoning for the business no longer existing?

It goes without saying, for many a perception of a successful business is one that is still trading and meeting the business objectives.  However, even the largest companies in the world started small and a significant number of founders will have tried several start-ups before succeeding. Entrepreneurs must manage their outlook so that they can learn from their mistakes and consider the experience a lesson!

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