Business Life: Starting Over After Declaring Bankruptcy

“Every failure is a step closer to success.”


Life in all aspect has its ups and down. Like any other entrepreneurs out here success and failures are constant companions. And, most of the time failure is something most of us are scared of.

Yet, failure plays a vital role to anybody’s success, most especially to the entrepreneurs.

It is not the time that you were down that will define who you are. It is when you stand and decided to move on to start all over again.

I see failure as a process. Yes, it is difficult, draining and depressing. But getting into this part of our life only means that you are ready to step into a higher level in your business. It is a hump, which requires us to pause but it never said stop.

Going out of business is not the end of the line. It’s a time to recollect yourself and to start a brand new life. Read on to get some practical tips on how to rise from the dust.

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Revisit who you are and let go of it.

We may have always got an identity made for our self. It could be someone whom we may not know ever or someone who is happier but we have forgotten. Your identity that was entwined with who you were before the failure.

It locks you up to see a better version of yourself. Tell that version to stay in the past because there is a better version that awaits.

The one that can carry an identity that will allow you to be the person. It is your brand new self that will allow you to succeed.

Enjoy the time for yourself while you take a pause in your entrepreneurial role.

Since at this early stage you won’t have any business to think yet. Spend time to relax and enjoy life with your loved ones. Do not overthink of what had happened, as there will be a right time to face it.

This is the moment that you can recollect and gather strength. As well as motivation to face your next journey.

Don’t take the failure personally

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Even if your business came to an end it is not directly proportional to your personal life. If you will allow your mind to tag along with the failure, it would be hard to recover. It may destruct your self-esteem and motivation.

Remember that a failure is a lesson to learn, not a let you quit. Because of a major or minor breakdown, you will certainly not forget the message it brings to you. And most likely it tells you to go on, discover the future but doesn’t do those things that had been unearthed by failure.

Reflect and adjust.

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Emotions are never a good partner in doing business. Well, sometimes it applies. But most of the time it awakens the uncertain and frightened self-inside of you. It makes us scared to know what really happened for us to know the truth about that certain failure.

If we aren’t brave enough to conquer our fears, reflect and change what needs to be. Then, we are putting yourself into another failure. Identify the factors that defeated the business. And change it to make a successful bounce.

It is time to plan for a new business.

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A new chapter of your life brings along a wiser entrepreneur. Plan for the next venture that you will have to take. Don’t live in the past, but learn from the past it.

You are now better. Open yourself to new learning and continue to be a dynamic person. Be someone who thrives for development and success.

Final Thoughts

Starting a new life after a failure takes time. Again, it is a process that each of us who undergoes a glitch of our plan must enjoy. Staying positive against all the situation will help you recover. To find a better form of yourself. Failure is part of our journey to success, the only defeat is when you decide to quit.

Other related articles:

7 Steps To Take After Your Company Fails

Don’t Fail When Your Business Fails: Tips For Bouncing Back

Where to Start When You Have to Start Over

Starting Over: How to Move on When Your Business Fails


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