Stay in business long enough and you'll run into a setback. Something won't go as planned. You'll pay too much, sell too little, lose that big account. Sooner or later, one thing or another isn't going to go your way. And that's okay.
We think of setbacks as a bad thing. Obviously, it's not good. You were hoping for a different outcome. You may have even been depending on it. The factor that will determine your success, or lack thereof, from here is how you react and handle this setback.
Reacting emotionally is only natural but it can cost you more in the long run. Setbacks can be disappointing, frustrating and even downright depressing. It's okay to feel this emotions but if you base your responses on your emotional reaction you're not going to be able to overcome the setback. You need to look at things rationally and devise a plan to move forward in a positive way. Keep reading for some tips on how to overcome setbacks.
- Take a moment to clear your mind. Before you announce your next step, stop and think. Are you still reeling from the disappointment? Are you feeling rational or emotional? Before you can decide on a plan B you need to have a clear idea of where you are now. Take a few deep breaths and center your thinking.
- Forget where you wanted to be, decide where you want to go now. Obviously you didn't end up where you had hoped. If the setback was minor you may still be able to get there. If you are facing a bigger hurdle you may need to come up with a new trajectory and head in that direction instead. Sometimes the unplanned paths lead to the most interesting destinations. Don't be so focused on your previous goal that you fail to recognize the new opportunity in front of you.
- Communicate. Often when a project goes off track it creates stress not just for you, but for your employees as well. They may be worried about their future within the company, particularly if they feel somehow responsible for the setback. On a larger scale they may be concerned about the company as a whole. Providing reassurance can pay big dividends. You don't want your employees looking for other work or dealing with unnecessary stress due to unfounded fears. A quick talk can alleviate these concerns and keep everyone focused. Once you've decided on a new strategy going forward, it's important to communicate that as well so that everyone is working towards the same goal.
- Learn from your mistakes. Often we want to put failures out of our minds. We want to move on and dwelling on things that went wrong just seems like a bad idea. In fact, it is necessary to ensure that you don't repeat the same mistakes in the future. It's important to know what went wrong so that you can make a better decision the next time you are faced with a similar situation.
Remember, setbacks are a part of life. How you deal with them will determine your future success or failure. More importantly, if you don't move on successfully from a setback you can be sure that your competition will capitalize on the opportunity. Emotional reactions are normal, but rational decisions will help you make the gains that you need.
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