How to Deal with Business Failure
When you have a business failure, it’s an emotional experience, but you have to learn how to separate yourself from your business. This is very difficult to do as an actor, because you are the product.
But I learned how from a very wise acting coach named Richard Lawson.
Next thought I have is . . .
A “no” is not a loss in business You wanna go for a hundred no’s. You wanna celebrate the
fact that you got a no. That means you’re out there trying. That means you’re out there making offers.
The worst case scenario is for you to come back and say,
“I haven’t told anybody about my business, or my latest service. Nobody knows.”
That’s the kiss of death! That is the kiss of marketing death. Don’t come back with zero no’s. Come back with a hundred no’s, so you can get to 3 yes’s — if your conversion is 3 % from cold lead to paying client, and online, that’s pretty good.
Look at No’s in a different light.
As an actress, I would stack up maybe 30 no’s at a time. And it would be depressing. I mean, part of it is, just shittay. Part of it, just, S-U-C-K-S, and we all know it. But, feel the pain, feel the sting and allow the emotions to pass through, and then celebrate.
Keep track of those no’s. Keep track of the yes’s, and celebrate ALL of them, because a no means you’re hella trying, and a yes, well, that’s what you’re really going for.
If you analyze, and review what occurred when you get a no, then you can learn how to do better next time.
When I was going out on a lot of auditions, I really analyzed, How did I show up? What was the role that I was playing? And sometimes, it had nothing to do with me, or my talent.
Now if it was clear that my talent or my lack of preparation was at fault, I would review and analyze,so I could improve for next time.
Learn to treat rejection and fails in this way: Step back and say, what is the lesson here? It hurts, but without taking action and then analyzing the real-world feedback, you won’t learn the best way to sell, market and develop your business.
You also wanna get a commiseration partner. Take that person out for a drink or EANAB, (Equally Attractive Non-alcoholic Beverage so PC ☺) — someone who’s a business person, too. Because that camaraderie, that commiseration, will help you grow and will make it more fun.
So track your no’s, track your yes’s, and celebrate the heck out of your wins, and you will have more fun in business!