Business Setbacks:  A Bump  or Brick Wall?
Learned from Patti Johnson

Business Setbacks . . .  Is it a bump in the road? 

. . . Or is it a brick wall which may be difficult to surpass?  

Well Patti Johnson has written a terrific article in Success Magazine on how failures and setbacks can be our best opportunities to learn and further pursue our ideas and goals.

Sometimes we need to climb over, around, or under brick walls . . . :)  

These walls can help us build better business ideas, strengthen our resolve, and move forward in pursuing our dreams . . .  

Diagnose Your Disappointment

1. What was the original goal?
2. What were the actual results?
3. What progress was made, even if you didn't realize the ultimate goal?
4. What didn't work as you had hoped or planned, and why?

Be specific with your answers then you can draw some conclusions based on facts (vs. emotion!)

Make sure to gather the information necessary to adequately understand the setback.

It's important to consider you may have missed something and understand the difference between strategy and tactics.  Even if you missed something, it definitely doesn't mean your goals are all wrong.

Those who are successful, are persistence in spite of setbacks! Get up and brush yourself off, assess, and re-focus.

Business Setback - Develop - "Plan B"

1. Change Your Idea
2. Change Your Plan
3. Change YOU
4. Pause

What's Plan

. . . based on Patti's four steps above, I'd personally START with #4.  

Take time to

Pause & Reflect

asking yourself the questions above to start.  Then follow-up with more specific in-depth thinking . . .

It's always great to write down the answers to your questions.   Once you've got everything written down, you can cross-reference information and come to a conclusion as to went didn't go according to your initial plans.

  1. Can I identify a specific time when the 'train went off the track'?  
  2. If so, when did the 'train derail'?  
  3. Why did it derail?
  4. What could I personally have done differently?
  5. Were there circumstances beyond my control? If so, what was within my control?
  6. What can I salvage?  if anything?
  7. How can I set a new course of action and build a much stronger business plan/model?

Ask Yourself, "What Went Right"???

While it's so easy to get discouraged and focus on all the stuff that may have went wrong with your business setback (or the one BIG thing that went badly wrong).  While it's always good to assess your progress, don't stay in the negative place.

Ask yourself --

What Went Right????

Write down these answers also!   Nothing ever goes completely wrong. . .  (although it's easy to believe this at certain low points)!!! 

Talk to your friends/mentors if you need help in identifying the good business actions you took. 

The answers can be GREAT  building blocks to a new foundation.

You always want to build upon What Went Right!!! 

Take the items that went right and partner them up with the answers to how you could have done better (from your answers to the questions above).

Persistence is a prized virtue of those who start changes.  Yet persistence doesn't mean you plow ahead with your blinders on when your plan clearly isn't going to work.  

Regroup and find another path.

Learn from your setback and determine if you have hit a bump or a brick wall.  Either way, adjust and move forward.

Every Mistake Has A Halfway Moment

Read Patti's full article here . . .

Bump or Brick Wall: How to Determine Plan B,

by Patti Johnson, Success Magazine

Business Ideas . . .

Find Your Passion . . .

Business Setbacks back to Business In the News . . .