Coffee with Glen, CEO of Brazzlebox
I always like to read inspiring quotes from successful people whether it be business related, is the entertainment industry or from athletes. A great quote from Phil Mickelson on winning the British Open this year was “You have to be resilient in this game. You have to accept losses and use it as motivation, as opposed to letting it defeat you.” This is so true and I am sure a lot of the entrepreneurs reading this can relate. The same applies to business – do not let losses or failure defeat you. It can be used as motivation to do better or to push yourself even harder to succeed.
A recent example I can use was when I was raising money to build the Brazzlebox website. I had a very interested group wanting to put in $500k. But the group relied on one person to make the decision and that stress caused this person to go another direction. He came out and told me he did not want to be frowned in his neighborhood upon if the company did not succeed. So he felt the easiest answer to investing in this was ‘no’. This was a crushing blow to the momentum of the project and it slowed tremendously. I remember hearing the ‘no’ and being down for about 10 minutes, but I gathered my thoughts, shook off the loss and used that to improve on my investment raising skills. I used that severe defeat as motivation to find the investment money we needed, and it worked.
Accept that you cannot win them all and use losses to improve your game.
Have a great day!