I feel such a failure. My new business has just gone bust and I feel gutted. I’m kicking myself because I chose the wrong premises. It was cheap but I didn’t get passing trade so it was a bad decision. I borrowed money to set it up and now I feel I’ve let everybody down.
Anonymous
Answer
Failing at something is always disappointing but failing in business (or anything else) doesn’t make someone a failure as a person. What’s most important is to learn from the experience and not to let failure to stop us from trying again; whether it’s the same venture or something different. Failure can make us stronger. Many people with successful businesses have failed before they succeeded.
As far as money is concerned it takes time and hard work to pay off a loan and start again, but that’s ok; it’s a learning opportunity and a challenge. It’s a chance to think things through carefully and do things differently next time.