Like business failures, however, there is a great deal to be learned from them. Here are five reasons to get over the fear of both.
That's because while starting a business is challenging and frustrating in itself, more so is the pain and heartbreak when you realise it is time to close and let it go. Much like a first love, your first business is something you will pour yourself into, heart and soul, so the idea of it coming to an end is enough to break anyone emotionally.
If you are an entrepreneur who is facing the agonising realisation that your business is failing, or you are holding back from starting a business for fear of failure, then here are a few reasons you should face the potential heartbreak with more confidence.
Experience trumps inexperience. Yes, there are benefits to working with someone who has not yet been tainted by institutional standards and paradigms, but my experience has demonstrated that the most valuable partners are those with whom I can relate. For instance, I find I have a deep connection with someone who has also been stricken with panic at the agonising reality that you must close an office and terminate 20 employees.
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