We live in a world where we do not always get what we want. Sometimes we fail; other times, we succeed. Sometimes we work so hard for a goal that the pain can become physical if we do not achieve those goals.
A lot of people tend to give up after a series of failures. However, if you do not try, you might as well not make it.
Business is one place where failure can be expected. One out of every five enterprises is doomed to fail. Does that fact stated mean that you should not launch your own business? Absolutely not.
We spoke to Jacques Poujade, the managing partner and financial consultant at LendPlus—a real estate brokerage firm, and he had a lot to teach us about failure and rejection.
A smart investor should be savvy enough to make speculations on the direction of the economy. https://t.co/iTT15MlVSs
— Jacques Poujade (@PoujadeJacques) November 12, 2020
Failure and Rejection are a Part of Business and Life
The moment you stop seeing your shortcomings as failures, you will begin to succeed some more. Business is tough, and you will make mistakes. You might make the wrong move, lose a potential investor, squander business funds on personal purchases, and make an embarrassment of yourself. It’s only standard.
Have you heard of billionaires who failed thoroughly? You may begin to ask, ‘how did they fail after achieving so much?’ The gospel truth is that anyone can fail. Anyone can be rejected; therefore, the next time you fail or you are rejected, buckle up, learn, and go at it.
There Should be no Do-or-Die Affair with Business
I have heard many motivational speakers advise their audience to keep going. One picture I have seen on social media that baffles me is the picture of a butterfly tied to a big rock. The motivational speaker then says, ‘You can do anything as long as you believe.’
Do not get fooled by people who do not run businesses. How can you take real estate advice from a motivational speaker who has never successfully made a massive success from real estate?
Business, especially within the real estate industry, relies on facts, figures, skills, people skills, and more. There is a lot to learn, and sometimes, the best way forward will be to quickly dump a property before the loss completely drains your finances.
I am not advocating for you to give up easily; I am only advising you to treat business objectively and not with emotions. I have recently been featured on USA Daily Chronicales where I talked about the real estate trends last year and what might be next for 2021. You can check the full interview here: https://www.usadailychronicles.com/2020-real-estate-trends-roundup-with-jacques-poujade/
When you Fail, Ask Why?
They say once bitten, twice shy. Do not lament; instead, ask yourself, ‘why did I fail.’ Growth comes from understanding why one failed in a particular venture.
If you can define the reasons for your failure and the mistakes you made, you will realize just what not to do next time you are faced with similar circumstances. It is even more accurate for the real estate business—and business in general.
You pitched an idea to an investor, and he says ‘no.’ You need to ask why he rejected you. Perhaps there are so many loopholes in the proposal. Whatever it is, you cannot know until you ask.
Keep Moving and Keep Being Innovative
If 2020 has taught us anything, it’s that life can have a ridiculous change in direction. December 2019 was excellent. Who knew we would be thrown into a lockdown in 2020? No one saw it come; however, every company that had been innovative and fluid about their ways of performing duties remained relatively functional and profitable during the lockdown.
Do not wait until the problem comes before you find a solution. Seek the solution to the issues you envision even before they happen.
Never allow the fear of failure and rejection to hold you from achieving your dreams. Failure and rejection are all a part of life. Lessons must be learned, and what better way to learn a lesson than from personal experience.
Learn quickly, do not fall into the same pit twice, and do whatever it takes to grow. Be optimistic about your failures. Celebrate your little victories, and live a happy life.