Overcoming Discouragement: 4 Tips To Rekindle Your Passion

By Yhordan Serpentini | January 4, 2022

Let’s face it, discouragement is something everyone has suffered with when attempting to do relatively anything. Have a long-term, life-long, or life-changing goal you would like to achieve? Do you have an idea for yourself that sounds a little too good to be true or unrealistic? Chances are you have dealt with, or are dealing with, discouraging thoughts.

When bringing a business idea to life, you will encounter many trials that will test how invested you really are in succeeding—-with discouragement being one of them. It’s okay to feel stressed or tired when you’re pursuing such a big risk, rather than “playing it safe,” as many others do; however, the fate of your business’ success heavily relies on how you manage such an issue. Here are four great tips for you to memorize to rekindle your business passion.

1. Acknowledge The Risks

This first tip might sound obvious, but you would be quite surprised by the number of people who fail to acknowledge and consider the risks of starting a business. It is no easy task and will require an immense amount of time, money, emotional investment, and discipline.

Furthermore, you must be okay with failing. A lot of entrepreneurs stress themselves out with the thought of failure that they tend to forget that failure can be a good thing. According to the U.S. Bureau of Labor Statistics (BLS), approximately 20% of new businesses fail within two years, 45% fail within five years, and 65% fail within ten years.

Note that these statistics are not meant to scare you. Instead, you should study why these statistics are so high. What are the main attributes to the demise of a small business? Why do so many businesses fail so quickly? Understanding the answers to these questions can significantly help you overcome the discouraging feeling of failure.

2. Understand That Fear is Natural

One thing you should remember is that your position as a business owner is bound to provoke fear or doubt. It is only natural to feel this way though, as you should also remember that being an entrepreneur is no easy task. This is a job that is out of your comfort zone, both mentally and financially. So of course, your body is going to try its hardest to force you back into the safe zone; but don’t listen to it!

3. Stop Focusing on The Finances

As a small business owner, it can be incredibly easy to stop focusing on the success of your business as a whole, and rather exclusively on the financial aspects. Yes, positive cash flow is a crucial contributor to your business’ success, but you must also focus on the overall progression.

How well-known is your company?
How engaged is your business with the media?
Does your company “give back” to your community? Is it a non-for-profit organization?
How unique is your business?
What achievements have you accomplished so far?

Asking these questions will help you realize that even though your business may not have as many employees, investors, or sales as you’d like, it still has a foundation to work on for future adjustments and improvements. If you’re discouraged or doubtful because of finances, try to analyze other positive qualities of your small business.

4. Define What Success Means to You: Why Should You Succeed?

Being discouraged about your business’ goals can also be a good thing. It is a time of doubt in which you can search for and assess what you really hope to get out of your company, as well as if you truly want to continue as an entrepreneur. Answering these questions can help motivate you to push forward as a small business owner:

Why do you want your business to succeed? Is it soley because you hope to boost your wallet, or is it for something more personal?
Why is it important if your business doesn’t succeed?
What will consumers miss out on if your business fails?

Try not to be too desperate for your business’ success. It will take time, but with great discipline and dedication, that time will come. While you wait for the natural process to take its course, take a moment to truly identify what your definition of success really is.

Remember that not everything in life is defined by money alone. Is your definition of success based on the number of consumers? Is it based on the amount of traction your company gained? Or is it based on the length your business lasted? You might also want to consider that every business is bound to fail at some point; they won’t last forever. If you can identify what your definition of success is, then you may find peace in your discouragement knowing that even if or when your business may fail, you were still successful in your own eyes.

Sources:

Deane, M. T. (2021, October 25). Top 6 reasons new businesses fail. Investopedia. Retrieved January 1, 2022, from https://www.investopedia.com/financial-edge/1010/top-6-reasons-new-businesses-fail.aspx

Overcoming Discouragement: 4 Tips To Rekindle Your Passion