I came to a huge self-actualization this past month. It resulted from a temporary setback to the expansion plans for one of my businesses. The result? More motivation with a stronger drive to succeed. And now a banker to prove wrong.
One of my companies needs four new employees. And although I have great credentials with a substantial accounts receivable ledger, my business was turned down for a line of credit. The decision came from a commercial banker I have known very well – since I had my first business at 16 years of age. Anyway, this so-called go-to bank for SBA lending decided that creating more jobs wasn’t in the playing cards for me. Based on the denial phone call, I feel the decision came from incompetence of the banker rather than any analytical rational. Needless to say, I was not happy. And while I know I can simply move onto the next bank, it triggered something inside me that was unfamiliar: fear.
With this unsubstantiated turndown, questions flew through my brain. Was he correct in saying that my business was not successful? And what if my company does fail? If so, what will happen to my current employees? Or even worse, am I not cut out for this entrepreneur stuff? Considering I have had countless setbacks and turn downs in the past (which is very common in the world of business), my deep quixotic uncertainty was extremely scary. Downright horrific.
Borderline depression. Productivity plummeted and I decided to take a two-week hiatus to Chicago. With my background in psychology I knew this path was not good, not at all! That was until one day this past week. I awoke to a self-actualization that, I know, will make me more successful than ever:
I became disturbed.
Lying in bed that morning, I thought how quickly my life changed for the better. I had gone from corporate anonymity to a successful entrepreneur and public speaker within a few years. Who was this one person – who will never take the leap out of a comfy banking job and a boring middle-class lifestyle – to tell me my company isn’t a success? I know my company is extremely successful with the sky the limit. I see the numbers and I know the potential. We’re gaining clients at an extraordinary pace and there is no sign of slowing. After telling myself, “Enough of the pity party! Get back to building your business!” I hopped out of bed in a eureka moment, reinitiated talks with a few prospects and within 15 minutes added yet another account to my company. And with a renewed spirit, I had found a much stronger drive to succeed.
The Lesson For You
Just as I was trapped in a lair of fear, closely succumbing to the unfamiliar but foreboding sense of failure, you most likely will find yourself facing a fight-or-flight setback. And overcoming these setbacks may not be easy – believe me, I know! The entrepreneurial road is full of hurdles. And only the most powerful positive emotions will give you the inspiration to conquer these roadblocks. When things aren’t going your way, get disturbed! Strive for change… for something better. Realize what makes you great and keep those feelings strong.
Ultimately, an entrepreneur’s positive emotions are constantly challenged. Those who figure out their own method for withstanding setbacks will be successful. And those who succumb? Well… they’ll fade into the statistics supporting the notion business building is risky.
Remember, when it comes to overcoming your next substantial setback; realize the situation for its face value, get disturbed and rise to the occasion.