What To Do When You Face a Setback

Howdy! In today’s blog post, I want to talk about what to do when you face a setback and how to keep the bigger picture in mind.

If your goal is to build a financially sustainable company, setbacks aren’t just possible; they’re inevitable. But here’s the thing—setbacks don’t have to be catastrophic. To avoid major failures, one of the smartest things you can do for your business is to keep your experiments small. The size of your experiment directly impacts the size of your failure.

When you keep your experiments small, any setbacks you encounter will be short-term and manageable. Short-term setbacks don’t derail your long-term goals or put your entire business at risk.

Safeguard your vision by keeping your experiments small and giving your company the freedom to try new things without massive consequences.

Tip: Keep your exposure to a minimum and keep your investment to a size you can tolerate while building your business. This way, you can focus on learning and evolving without the fear of failure taking you out of the game entirely.

My dad says, “Make your mistakes small,” meaning, experiment in small ways before you blow all your cash on a big idea. It can be tempting to go all-in on something that feels like the big break, but one wrong move can wipe out an entire pursuit.

Next time you’re planning your next big move, ask yourself how you can test your idea in a smaller, more controlled way. That way you will keep your experiments lean and your risks manageable.

Important Question to Ask Yourself this Week:

What’s one way you can test a big idea in your business on a smaller scale before fully committing?