Entrepreneurship Industry News

How Rejection Can Fuel Your Entrepreneurial Success?

Anyone who has experienced rejection knows the gut-wrenching anguish of being dismissed. Whether it’s a pass over from your boss for the promotion you’ve worked so hard for, or abandonment from a romantic partner that leaves you brokenhearted, it can all be challenging to manage. Some situations even leave us traumatized. However, rejection as a whole can have a positive effect on how we choose to live our lives if used constructively. Yes, as much of a cliché as it is, rejection can make us stronger and build character.

You Can’t Avoid Rejection.

At some point, we all experience the dismissal of our affection and our ideas. While you can’t avoid it, you can embrace and reshape rejection, especially when you’re an entrepreneur.

An entrepreneur, by definition, is someone who ventures out alone to start a business knowing they may risk a loss to make money and achieve success. The nature of the entrepreneurial journey means that rejection is an obstacle you will encounter.

People choose the entrepreneurial life for various reasons. My “why” for starting my business was I didn’t want to fit my business ideas into a framework that wasn’t the right size for my goals. I wanted to create something that was wholly mine, not bent and twisted into something I didn’t recognize by others who tried to mold my ideas into something entirely different from my vision.

When I took the leap and started my business, I was prepared for rejection. After all, rejection is something I have dealt with all my life. As a child, my parents moved often and as a result, I often sat alone on the bus and in the cafeteria. Sometimes the rejection came in the form of physical violence. I remember fighting and being beaten on my way to and from school because of my family’s low status in the community. Yes, I was afraid and alone during these times, but it also made me mentally stronger.

Even as an adult, rejection continues to follow me, but the difference now is, I’ve learned to handle it and not take it personally. Learning how to handle rejection is vital to long-term success. For every “no” you get, you’re one step closer to a “yes.”

Is Your Fear of Rejection Holding You Back?

What is the number one fear holding you back from taking your business to the next level? To soar past the naysayers and achieve solid success? Over the years, I have found most entrepreneurs fear and hate raising capital, but you can’t make money without money. If you don’t have the capital to invest, you need investors.

Finding investors is the entrepreneur’s version of a job hunt. You have to sell yourself and the business idea, and like a job hunt, sometimes you walk away from an interview without an offer. I’ve had my fair share of rejections, a whole sea of rejections. As a leader in my industry, struggling entrepreneurs ask me how I handle the refusals.

Well, first it helps to know you’re not alone. The statistics show, on average, you have to pitch up to 80 times before an investor says yes. Remember, that number is the average. The actual number could be much higher before you get a positive response.

Rejection in business doesn’t mean you have a bad idea. It simply means you haven’t found your target audience who will purchase your products or services or the investor who really gets your vision. Selling and pitching to the wrong people is a problem for many businesses, but when you take the rejection and analyze the reasons behind the rejection, you can tweak your approach and turn rejection into positive motivation.

“The biggest hurdle is rejection. Any business you start, be ready for it. The difference between successful people and unsuccessful people is the successful people do all the things the unsuccessful people don’t want to do. When 10 doors are slammed in your face, go to door number 11 enthusiastically, with a smile on your face.” ~John Paul DeJoria

Adopting the attitude of “when you give me a no, I move on to the next one,” has put me at an advantage all my life in sales, job searches and now, as an entrepreneur.

Do you stand with the feeling of being alone, different and without a positive future ahead of you? It doesn’t have to be that way. Success comes from within and starts with a single decision. Let all your past rejections, personal and professional, fuel your passion and the entrepreneur you were meant to be.

Read More: Forbes