Setbacks are a part and parcel of life. Everyone has to encounter them at one point or another. But breakdowns have the potential to become breakthroughs. If something is broken down, it can also be built up from scratch. Every individual has their own unique way to overcome problems and setbacks.
Some setbacks are small, like a public criticism from the boss, while some can bring entire companies to its knees, like Snapdeal’s decline in the industry. But all setbacks, big or small, can be used as a stepping stone to get on to the next phase of life. The process might be a climb, but the view from the top will be just as great.
Regardless of the setback, a few techniques can help you shed the disappointment, prop yourself up and move forward with renewed vigor.
1. Be optimistic and not in denial.
The first step on the road to recovery is acceptance. Accept that something has happened because of which your plans were put on pause. Pretending you aren’t disappointed, frustrated or angry won’t make the problem go away. It’s easy to forget that setbacks are not permanent, but it is important to compartmentalize the bad events and understand that they are temporary in nature and to externalize the events. Optimism will help you look at the bigger picture than just the problem you currently face. Don’t act in haste, instead, take your time to process what has happened, acknowledge how you feel and then make an informed decision.
2. Be open to change
Setbacks can also be blessings in disguise. They can also be taken as feedback, letting you know that some things are not working out. Growth is directly connected with the most challenging experiences which forced you to change. Even Steve Jobs was fired from the company he founded, as was Elon Musk who was ousted from the role of CEO from two of his companies. But they persevered to become the champions of their respective industries!
Don’t let one setback hold you down. Assess the situation, strategize what your next move is going to be and continue working. Devise a plan to overcome the setback and minimize the impact of the setback. Gather first hand information, recognize why the setback took place and then come up with a plan. Only after you have covered all of the essential areas, move forward with your plan. Nokia was one such brand which people thought would not be able to recover after tech giants like Samsung and Apple took over the smartphone industry. But the company bid its time, strategized, teamed up with Microsoft for its grand return and arrived in style in the smartphone market with their latest releases.
Important lessons can be learned in life through setbacks. Instead of blaming someone else for the setback, learn how it can be prevented, how both the organization and yourself can do better and what you have gained from the ordeal. It also helps to boost self confidence and to remind yourself that you have the ability to push through them. Reflect on what you have learned and how this knowledge can help you advance your career, rather than fixating on the perceived failure.
A few simple steps can help maximize the returns on failure. Every entrepreneur will face some form of a setback but it is how he handles those challenges that will determine his success.
Five Ways To Build An Effective Startup Team
No matter how strong your idea is, the ultimate fate of your startup lies in the strength of your final team. It takes only one weak member to topple all your hard work and in order to avoid that, it is extremely important to make sure you have crossed all your T’s and dotted all your I’s. Here are a few tips you could follow to get the perfect team for a startup which could change the world.
1. Identify The Positions
Before you start the hiring process, identify the positions you need for your startup. Be sure to prioritize. Figure out which position to fill first and balance out the hiring. It does not make sense to hire five project managers and not a single programmer. Be sure to have enough money or customers to pay for staffers before you start hiring them.
2. Envision The Bigger Picture
When you go out to hire people for your startup, let your vision drive you. Why were great thinkers like Steve Jobs or Verghese Kurien so successful? Because they had a dream and they let the world know their dream. The people they hired believed in their passion and because of that, their companies are still rock solid.
3. Adopt A Game Management Approach
Great cricket, football and basketball coaches always talk about watching films and studying the competition. As a new startup founder, you should do the same thing. Identify the competition. Understand where their strengths and weaknesses are. This helps get a clearer picture of where you are as a potential game changer. Just like our favourite coaches and quarterbacks, having a head start always helps increase your chances of winning!
4. Get A Consultant
Every movie has the main guy and the Right Hand Guy to help with the more serious work. A consultant is also just like that. They will tell you things you do not want to hear and they will get the job done for you whether you like it or not. Get one! Play the game safe and play it right.
5. Post Hire
Once the entire process has been finalised, it is important to do a background check on the people you are hiring. What if they look really good on paper but have serious flaws within? To avoid issues like hiring an employee with a police case or a fraud case on them, do a background case and avoid all the hassle.
Your company is as good as the people you hire. Hire the right kind of people and who knows, you could become the next Microsoft or Swiggy!
Relationship Between Manager And Employee
The relationship between a manager and employee is extremely vital to the entire mood of the office. A poor relationship brings down the entire moral and effects the productivity of not one but every employee. On the other hand, a good relationship breeds positivity and fosters a functional work environment.
According to multiple studies, more than half the employees were unhappy with their direct supervisors. This friction between management and staff not only manifests itself in poor attitudes and work culture, but it can also have a deleterious effect on a company’s productivity and revenue. What employees lack in the workplace is one simple thing, cooperation.
Managers are successful only if they keep reinforcing the fact that performance at work is not always about competition. While healthy competition is always encouraged, it goes against the overall work atmosphere of the company if the competition becomes too negative too soon. Performance is about coming together to serve a common purpose: that of delivering a brilliant product at the end of the day. As a manager/employee, once you convey this message to your team and tell them you actually mean it, the work flow makes more sense.
As a manager/superior, you can create a positive work life by simply charting out certain details. Delegate specific responsibilities to certain employees and make sure each responsibility is linked with the next in a ceaseless effort to provide exceptional products. Find ways to bring your team together. Hold workshops, have constant feedback meetings and create goals for each team with a reward incentive at the end of a successful task.
Workers without a career advancement or a near goal in mind are usually demotivated. Develop and guide talent to ensure you have a loyal and stable workforce that can fill the needs of the present and future. In short, do not, at any point, make your employees dread coming to work. Get the pay cheques rolled out on time, ensure you have enough number of holidays planned for the year and make sure you and your employees always have a strong connection.
5 Ways To Use Social Media To Build Your Business!
- Five Ways To Build An Effective Startup Team
- Relationship Between Manager And Employee
- Bill Gates And His Life Secrets
- Virgin Hyperloop To Transform Indian Transportation System!
- Amazon Pilots Food Retail Venture In Pune
- Arunachalam Muruganantham: India’s Social Entrepreneur And Menstruation Man
- 5 Ways To Use Social Media To Build Your Business!
- Gary Vaynerchuk’s Tips For All Entrepreneurs
- Will WhatsApp PayMent Change The Payment Industry In India?
- How To Build Loyalty With The Millennials
- Ola Launches Internal Investigation For Fraud
- The Art Of Strategic Alliances
- 4 Key Strategies For Small Companies To Drive Business Growth
- The Long And Short Terms Of Working Towards Success In Your Twenties
- How To Impress Your New Clients
- How To Use WhatsApp Payments Feature In India
- How To Avoid A Bad Breakup With Your Boss After You Quit
- Foodpanda To Boost Logistics With Rs. 400 Crores Investment
- How To Become A Networking Genius
- Hack Productivity At Work