Written By Russ Hiner
Getting Back Up: Making
Failure into Success
It is as easy to succeed as it is to fail. Why does this sound
untrue? Because most of us forget that we have a choice: we can enjoy
the good and overcome the negative. What we must remember is that
when we encounter something that we initially see as negative, we
have a choice about how to react.
Did you know that Harland David Sanders, the famous KFC "Colonel”,
couldn't sell his chicken? More than 1,000 restaurants rejected him.
Or that Walt Disney was fired by a newspaper editor because he "lacked imagination and had no good ideas"?
Or that Henry Ford's first auto company went out of business?
What made these people successful after so many “failures”? They
knew that there are no failures, only ways to see set-backs as ways
to improve. They had persistence—a desire to continue with their
lives—a desire to overcome. They knew that they had the power of
choice, that they could find success.
So
why is it so difficult for many of us in business to pick ourselves
up after we fall?
Because
many of us don’t have a plan. Yes, we say we are ready for
success--but what about when the success does not come when or where
we want it?
Two Essentials to
Overcoming Adversity: Evaluation and Action
THE
PLAN: Use this process to succeed in business and frame all
adversity in a positive light.
- EVALUATE:
Consider these questions when something unexpected happens:
- What is the event?
- What went very well with this event? What did you like best?
- What areas of this event can you improve?
- What can you learn from this event?
- TAKE ACTION:
Do more of what went very well, and make changes that will allow you
to improve and have a higher rate of success.
Scenario
1: Recently, a person I was coaching was disappointed because his
deal fell apart. The buyer backed out of the transaction.
On
the surface, this looks like a buyer problem. It's not. This is a
classic management problem. Because this wholesaler did not qualify
the buyers well enough to find out the restraints they had--their
cash, their weaknesses, or their aversion to risk--he lost the deal.
Had he done more investigating, he may have closed the deal.
Of
course, you're not going to have 100% control. But asking the above
questions, the wholesaler saw that he should have better evaluated
what the buyer needed.
Evaluation
and information gathering give you more control over a done deal—more
control over your success.
Scenario
2: I had a transaction that was ready to go, but my seller
disappeared. After being upset, I picked myself up and evaluated.
Here
is what I learned: I hadn’t given the seller something that they
wanted, expected, or needed. It was difficult to realize that I may
have caused the seller to end the deal. I could have blamed the
Seller and been negative about the lost deal, but that would have
done me no good. Instead, I got up, evaluated, and decided that I
needed to adjust my approach.
Everyone
has shortcomings and strengths. Realizing both is essential. This
system of evaluation and action will allow you to succeed much more
consistently.
It
is crucial to evaluate and adjust so that you grow and enjoy your
business. The process takes only 15 minutes, and eventually, you will
do it naturally because it is a tool that guarantees success.
Evaluation
and Action are two essential tools. Simply reflecting on your
set-backs will guarantee you improvement at a low cost and with low
risk. It will allow you to look at set-backs as a way to learn—as a
way to get back up and do it again—but better.
If
you doubt what I am saying, think about Colonel Sanders, Walt Disney,
and Henry Ford. They were normal people just like you and me, and
they succeeded too.
At
this point, I am sure you are excited about the prospects of this
process. You are asking yourself--How can I learn this process
quickly and successfully?
You
can do this by joining me and other successful investors at my
Creative Deal Structuring Subgroup. Let me coach you to learn the
market and find your niche!
I
can’t wait to meet you at the White Hall Grill, Atlanta, Georgia
on the first Wednesday of every month at 6:30 pm.
http://www.meetup.com/creative-financing-4-RE/events/94737542/
Please contact me for affordable, 1 hour on-line coaching sessions
twice a month at low cost of $49 per month. www.ibuyga.com
Written By Russ Hiner