This article debates various approaches to how to deal with failure. Most times, we connect failure to pain, shame and unhappiness. But there’s more value to failure and fear than we give. Instead of being afraid of the F word, we must find the best way to deal with it.
I don’t want to romanticise failure or success. But this debate is only about the adventurous spirit that wants us to do things. On the other end, there is a fear of failure which is preventing us from taking action. Who do we listen to?
You cannot get into business for the fashion of it: What is the purpose of business? I think this is one of the most important questions that any young entrepreneur needs to ask themselves. A startup is a complicated affair. Compared to that, product development is fun because aligns with the vision of innovation and creation. However a startup takes more complicated elements such as building teams, managing funding, scalability etc.
When you decide to get an unsecured personal loan, i.e. a loan that won’t require you to provide collateral, then you understand right from the beginning that the interest rate is bound to be a bit higher. After all, if you do provide collateral, then you can find some lenders that are willing to lower the interest rates, but the advantage of the unsecured option lies in the fact that you won’t have to be concerned about losing some of your assets if something unpredictable happens.
As a business owner, few would disagree that the first year is one of the most daunting that you can face. After all, most companies fail to get past this marker, and there are umpteen very good reasons for this. Of course, all is not lost. While it can certainly feel almost off-putting when you … Read more