You can either make failure a part of your path to success, or you can make it the end of the road.  Let’s talk about how to overcome setbacks as a small business owner or solopreneur.

How to overcome setbacks as a small business owner or solopreneur:  Introduction

Setbacks are a part of life.  They happen to everyone.  But when your money, reputation, livelihood, and professional success are on the line, setbacks can seem devastating.  If you allow them to become the end of the process, rather than a part of it, you won’t achieve your business goals, and you won’t grow and evolve in a way that serves you.

Today, I’m sharing 5 simple tips (plus one counterintuitive, but important, bonus tip) to help you learn how to overcome setbacks as a small business owner or solopreneur.

Choose to see the setback as a stop sign, not brick wall

When you’re learning how to overcome setbacks as a small business owner or solopreneur, one of the most important things is to decide how you view the setback.

So many people fail at business, goals, or relationships because they try something a handful of times, it doesn’t work, and they throw in the towel.  They see the setback or the failure as a brick wall, decide they can’t or shouldn’t go any further, and give up.

Here’s the thing.  A setback can be a brick wall, if you decide it is.  Or, you can choose to view it as a stop sign – an indication to pause, regroup, and move forward.  The choice is up to you, but only one of the two will help you overcome the setback and continue pursuing your goals.

Decide what the setback means about you

Some people give up after a setback because they’ve decided that it means something negative about them.  Here are a few examples to illustrate what I’m talking about:

• “I failed and therefore I’m not good enough”
• “I can’t do this”
• “This is too difficult for me”
• “I was foolish to even try/to think I could do it”
• “I’m a loser because I couldn’t get this right”
• I don’t know about you, but none of those thoughts would inspire me to keep going after a setback. 

When you’re thinking about how to overcome setbacks as a small business owner or solopreneur, it’s important to define what the setback or failure means about you – if anything.  Oh, and by the way, you are not your results.  Here are a few examples of what you could make failure mean that could serve you in continuing to pursue your goal:

• “I failed, but I am not a failure”
• “I can do this if I keep at it”
• “This is difficult for me, and continuing to pursue it will help me grow as a person”
• “I had the courage and vision to give it a shot”
• “I’m a doer because I tried something, and I now have data to work with”
• See how different those feel than the first set?  It’s not about pretending that you succeeded, but about separating you from your results.

Learn meaningful lessons from the setback

Setbacks are going to happen.  It’s how you use them that matters.  You can either use them against yourself, or put them to use to help you achieve your goals.

Here are 3 simple questions you can ask to help yourself learn from setbacks and failures in your business (or your personal life, for that matter).  I learned this process from fellow coach, Stacey Boehman.

• What worked?
• What didn’t work?
• What do I want to do differently going forward?

This process is helpful in learning how to overcome setbacks as a small business owner or solopreneur for a few reasons.

First, you don’t throw out the entire experience, because you give yourself credit for the things that worked well – even if it’s nothing more than the fact that you showed up and gave it a shot.

Second, you have an opportunity to take a look at the parts of the process that didn’t go well.  You don’t have to be overly self-critical here, but honesty and ownership are key.

Finally, you get to implement changes going forward, as a result of analyzing the things that did and didn’t work.  If that isn’t using a setback to your advantage, I don’t know what is.

Bonus tip:  These 3 simple questions can be useful in learning from your successes, as well.

Reframe the setback or failure in a way that serves you

Rather than buying into negative, pessimistic thoughts around the setback or failure (which won’t help you develop resiliency and determination to keep going), reframe it in a way that serves you.  For example, you could choose to believe:

• “This setback is an opportunity to learn and adjust”
• “This setback is a part of my future success”
• “Everyone experiences failure, so this is a normal thing”
• “I have the power to decide where I go from here”

You can’t always choose your circumstances, but you can always choose how you view them.  Reframing is an important step as you learn how to overcome setbacks as a small business owner or solopreneur.

Decide how you want to think and feel moving forward

Resiliency and determination create success.  A big part of developing both is to cultivate a mindset that encourages them.  Deciding how you want to think and feel about setbacks, yourself, and your business as a whole is incredibly valuable for bouncing back after a failure.

Going forward, you might choose to think things like:

• “Success is mine to create”
• “I have what it takes to do this”
• “This setback was an enriching experience, because I learned and grew as a result”
• “Sometimes business (or life) is hard, but I can get through the hard parts”
• Choosing thoughts that will serve you in your pursuits is a great way to prime your mindset for what’s to come.

A quick note:  It’s okay to quit, but make it the exception – not the rule

I’m all about pursuing goals doggedly, unapologetically, and until you succeed.  That being said, there are going to be times when it makes sense to throw in the towel.  We’re humans, after all, and sometimes a business goal is no longer aligned with your overall strategy, mission, vision, or values – personally, or professionally.  So, work to overcome setbacks, as long as pursuing the goal still makes sense.

How to overcome setbacks as a small business owner or solopreneur:  Conclusion

Setbacks and failure are a normal part of life and business.  How you react to them is a huge factor in determining whether you’ll ultimately succeed or not.  As you learn how to overcome setbacks as a small business owner or solopreneur, keep these concepts in mind:

• Choose to see the setback as a stop sign, not a brick wall
• Decide what the setback means about you
• Learn meaningful lessons from the setback
• Reframe the setback or failure in a way that serves you
• Decide how you want to think and feel moving forward
• It’s okay to quit (make it the exception, not the rule)

If you struggle with overcoming setbacks in your business, I know what it’s like… and I can help.  Let’s have a conversation around what’s going on, what you want to change, and how you can make that happen.