There is no Failure only Feedback

“Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.” Dale Carnegie

If there are 6 words which have truly helped me in my journey as an entrepreneur to date, they are, “There is no Failure only Feedback”. They have allowed me to flip just about any situation when things are not doing well and I begin to doubt myself. The process of doubt starts with losing a sale when you were relatively close to finalising it.  The world seems to come crashing down at this point . You start to wonder about your future as an entrepreneur or in sales, next, you start to doubt the viability of what you are selling. You begin to blame all sorts of external circumstances for the situation you are in and, motivation, productivity and optimism take a nose dive.

During my second start company which was in the Import/Export business I experienced this situation at the beginning. Disillusioned at this, because of the success of my prior company I began to wonder what was happening and I started blaming everyone apart from myself. At this point a close friend who has done very well for himself in the same line of work, gave me some much needed advice. When I explained the situation to him, he reaffirmed my share of bad luck but helped me understand that my attitude towards failure was the real culprit. I had begun to take it too personally and it began to blur everything around me to a point where I was unable to put myself in a position to close that sale. He left me with the advice to use each one of my failures as feedback to refine my approach in the future.

At first it was confusing, I was not being given any apparent reason when I missed an opportunity. How was I supposed to get feedback? That is when the lightbulb went off in my head. I started asking myself the right questions which then led us to develop customer feedback forms on marketing material, presentations, quality, price and overall satisfaction. I started to listen to what my customers wanted and how we could position ourselves to fulfilling these requests. That was a turnaround for me in my journey and now, when I speak to, listen or read about successful entrepreneurs there is a common thread “Failures are pillars to your success”, we have to respond to them in the correct manner to make sure that we learn, adapt and provide what the market truly wants.

If you haven’t had success in closing your first deal yet, break down your current sales process from start to the finish. Get feedback, talk to individuals who have had success in that area, survey your target segment and figure out ‘Why your customers are not buying from you ?’. Then, use that information to adjust your sales process to get the results you want!

Envision It!

“Envisioning the end is enough to put the means in motion.” Dorthea Brande

You call up the 4th prospect on your list and rattle off the perfectly rehearsed pitch you have been using for the last few months, day after day. All of a sudden, the prospect starts to show interest in what you are saying….you seem to have hit a chord somewhere and the best part is, you can sense it. The phone call ends on a positive note and more information is requested via email. An hour after you have the sent the mail the client, the large multinational, says they would like to speak with you in greater detail. Its an eerie feeling, the realization that you may actually have hit home and the butterflies let loose.

You arrive at the customers office, adrenaline is rushing through your body, however, you are willing yourself to be calm and confident as you have given this pitch many a time. You meet the team you are presenting to and straight off the bat you can feel the chemistry. The presentation goes well and all the verbal and non verbal cues confirm your initial vibes. During the question and answer session you face the standard questions, you have the answers, backed by much hard work and research. You close the meeting, with the client asking for time to make their decision. For a split second you think, will this end up like all the other dead ends, or was it truly different. You then make  a conscious decision to stay positive on this one.

The next morning you have an email waiting for you from the client requesting a quotation. Negotiations move quickly through the course of the day and you feel like you are on cloud nine. All those days where you were frustrated, angry and even demotivated, are already a distant memory. By the day’s end, you get the email you have been waiting for….a confirmation to move forward and a signed agreement. Sitting there , looking at the computer screen you are in a momentary daze that seems to last forever. A million thoughts are firing off in your mind relating to steps for moving forward, the realization that you have done it and a euphoric sense of happiness. You let go and for the first time in months there is a feeling of…..freedom.

Congratulations, you have cleared one of the steepest hurdles in your initial journey as an entrepreneur. This is the beginning of many more and now you know a bit more on how to get there. For those of you who have not reached this milestone yet and are working towards it, stop whatever you are doing right now. Close your eyes and envision closing your first sale in detail, start from the beginning and go through the entire sales process. Identify all the emotions, the verbal and non verbal cues, once the image is clear, hold it, you now have a roadmap to get to where you want to be ! Best of luck in your journey!

The Elusive First Sale

“Remember, you only have to succeed the last time.” Brian Tracy

Having been in the position of pushing myself to close that elusive first deal as also managing people who are striving to hit that landmark milestone, I have developed this strange love hate relationship with this stage in a startups life. When I look back to my first startup where we were a selling designing and printing service, I realise what a great learning experience it was for all of us. We were a bunch of 21 year old students with no background, no experience and no past clientele. We had to figure out very quickly what aspect we could compete with our competitors on, it turned out to be customer service. Our entire business model worked because being university based we could cater to the large design and print requirements of the university in a more personalized manner.

It took us around 4 months to close our first ‘real’ deal. We were constantly pushed around, looked down upon, our calls were not returned and most importantly we were constantly pressured to reduce our prices because we were ’students’. So given all of that, you are probably wondering what the ‘love’ aspect for this stage in a startup is. It came from the fact that for the first time in our lives we had to prove to ourselves that we could do something on our own. Call it ego, inner strength or a magical drive, there was a voice inside you which kept on saying “You Can Do This”. That is the voice which has helped me stay the course as an entrepreneur.

Over the course of this week, I am going to outline some basic but fundamental concepts which need to be kept in mind when you are in the position of pushing yourself or your team to close that first deal. This is a time in entrepreneurial life where will, determination and drive are tested to the limit. This is  a defining and testing time to check whether you have it in you or not, this is the stage where many discover that this path was not meant for them. Use this stage in your startup life to identify within yourself  what drives you, how you face adversity and what your threshold levels actually are. Most importantly enjoy this time, discover if you can learn to love what you do. In the end, that is all that matters. When you do something you love doing, you will never have to work another day in your life. Best of luck!

5 steps to a balanced life

“Life at any time can become difficult: life at any time can become easy. It all depends upon how one adjusts oneself to life.” Anonymous

During this series, several factors were discussed which are often taken for granted in the course of our chaotic lives today. A lot of the time we forget the simple things which, not only help us to get from one day to the next  but which keep us anchored, healthy and motivated to continue doing what we do. I hope some of the things discussed this week will help you enjoy a more balanced and healthy life;

1. Diets: Diets tend to be one of the first things which go out of whack when we enter very ‘busy’ periods in our life. The effect of this however is felt on all aspects of our life. It is unhealthy, productivity goes down and we just don’t feel that great about ourselves. We have to do all we can to keep this aspect in check at all times for a more balanced life. To read more tips and suggestions on keeping a balanced diet please click here.

2. Sleep: A lack of rest can impact severely on the quality of life. When you are working on complex deals which are extremely draining, having a set routine for sleep can dramatically increase your productivity, motivation and overall drive. To read more tips and suggestions on developing a balanced sleeping routine please click here.

3. Exercise Routine: Lethargy and restlessness can result from being pent up in an office all day long. The body needs a release outlet to get some fresh air into the system. Developing and sticking to an exercise routine can be a challenge, however, if you do set one for yourself you will be pleasantly surprised with the outcome. To read more tips and suggestions on sticking to your exercise routine please click here.

4. Family and Friends: In life we need anchors to keep us rooted and prevent us from drifting too far off course. Family and friends are one of these anchors and help us do just that. Sometimes when we are caught up in our busy lives we forget how important they are to us. In order to have a balanced lifestyle we need to focus on stuff other than, bottom line results and material acquisitions, we need to focus on the things which really matter. To read more about keeping in touch please click here.

5. Inspirational Story: A professor stood before his philosophy class and had some items in front of him. When the class began, wordlessly, he picked up a very large and empty jar and proceeded to fill it with golf balls. He then asked the students if the jar was full. They agreed that it was….To read the entire story please click here.

In life , we are all intent on reaching our goals and acheiving our dreams. Along this journey, life…happens, and we tend to get busy with the details and the little things. Soon, if we haven’t paid too much attention to the bigger picture we may find ourselves in a place we do not want to be. Don’t let that happen. From time to time come up for air and see if you are moving in the right direction before it is too late to turn around. 

p.s stop along the way, periodically, to smell the roses and actually enjoy the ride . 

 

An Inspirational Story

“Life is made up of small pleasures. Happiness is made up of those tiny successes. The big ones come too infrequently. And if you don’t collect all these tiny successes, the big ones don’t really mean anything.” Norman Lear

I was told this story a long time ago and I realize that the factors which we have discussed in this series and this story, are intertwined. I hope you all enjoy it and learn from it as much as I have.

A professor stood before his philosophy class and had some items in front of him. When the class began, wordlessly, he picked up a very large and empty jar and proceeded to fill it with golf balls. He then asked the students if the jar was full. They agreed that it was. So the professor then picked up a box of small pebbles and poured them into the jar. He shook the jar lightly. The pebbles rolled into the open areas between the golf balls. He then asked the students again if the jar was full. They agreed it was.

The professor next picked up a box of sand and poured it into the jar. Of course, the sand filled up everything else. He asked once more if the jar was full. The students responded with a unanimous “Yes.” The professor then produced two cans of beer from under the table and poured the entire contents into the jar, effectively filling the empty space between the sand. The students laughed.

“Now”, said the professor, as the laughter subsided, “I want you to recognize that this jar represents your life. The golf balls are the important things - your family, your children, your health, your friends, your favorite passions - things that, if everything else was lost and only they remained, your life would still be full. The pebbles are the other things that matter like your job, your house, your car.

The sand is everything else - the small stuff. If you put the sand into the jar first” he continued, “there is no room for the pebbles or the golf balls. The same goes for life. If you spend all your time and energy on the small stuff, you will never have room for the things that are important to you. Pay attention to the things that are critical to your happiness. Play with your children. Take time to get medical checkups. Take your partner out to dinner. There will always be time to clean the house, and fix the rubbish. Take care of the golf balls first, the things that really matter. Set your priorities. The rest is just sand”.

 

Friends and Family

“There are the families that we are born into, and there are the families that we choose; our circle of friends. While their faces may change over the course of our lives, the joy they bring us remains constant.” Anonymous

Anchors are used to stabilize ships during choppy times, control speed and even provide directional control. When a ship loses its anchor, it tends to drift into unchartered territories without being aware of the direction the ship is taking. If the anchor is not restored, you may move so much off track that finding your way back sometimes take a lifetime. 

In life, family and friends provide your ship with a similar kind of anchor. They help keep you grounded, provide support and allow you to remember where you come from and the value system you represent. This is a critical aspect of our identity, I am however often surprised how life has this uncanny ability to make us forget our true anchors and drift unknowingly wherever the wind takes us. We get so busy and caught up in our lives, we forget to pay attention to the little things in life that matter and find ourselves having lost our way to what really matters the most . 

During periods where we are working 16-18 hour a day for extended periods of time this bond between family and friends gets strained. What I have come to realize is that we do not need to do much to keep this relationship alive. A phone call or an email goes a long way in just letting the people you care about know that you are well and thinking of them . Facebook now allows us to stay in touch and has made it very easy to do so. With all these convenience which are only a click away we still make excuses and do not make that phone call or send that email or even leave a message. I know I have been guilty of this in the past and looking back, I don’t know why it was so hard.

We all work really hard at achieving the goals we set out for ourselves. What I am learning is, that along the way we have to pay much closer attention to the world around us today. There will be very little satisfaction in getting everything you want if you then find that when you get there, no one is around to celebrate your success with. 

 

Feeling Overwhelmed?

“One day your life will flash before your eyes. Make sure its worth watching.” Anonymous

I have just been through a crazy month at work. It felt like there were five hundred things to do on my list, everyday! The last couple of days I have been documenting all that was accomplished during the last month and even though we achieved a lot, I feel it came at a high price. I was reflecting about it this evening and I realized how often I go through cycles like this. I tell myself I will do more to balance my time in the future, and then it happens again. Maybe it is my nature to get everything done just right or an addiction to the adrenaline you feel when everything you are working on so hard starts to show potential. 

Over the course of this week I am going document five areas that I want and need to work on, to find balance for such periods in my life in the future. They will be simple guiding lights, reminding me constantly of the bigger picture when I am so totally engrossed at a micro level. Luckily, being an entrepreneur gives me the freedom to take off when I think the extended period of stress level is running too high. For individuals who do not have this facility, a sharper focus to rectify this imbalance is vital. High levels of stress over extended periods of time leads to eventual ‘Burnout’. 

It is essential that we do our utmost to avoid reaching such stages because that tends to lead us to do and say things which we would not, ordinarily. We all tend to have times in our life when we are maddeningly busy , how we deal with ourselves and others during this period, affects us and all those around us as well. I would like really to hear from all of you what you do to overcome it all when you are feeling overwhelmed and stressed out for extended periods of time. 

5 nuggets from ‘The Alchemist’

“If you can concentrate always on the present, you’ll be a happy man “ Paulo Coelho ‘The Alchemist’

‘The Alchemist’ is a story about the journey of life. It follows a boy who slowly discovers himself and what his true calling in life actually is. Through the story several fundamental topics such as life, struggle, love, money, courage, fear, sadness, success, death and destiny are discussed. When I re-read this book recently, several of these topics related to me on levels which I had not thought about before. I was able to put myself into the boys shoes and actually relate to some of the experiences as an entrepreneur. I decided to outline 5 key topics from the book in this week’s blog series;

1. Personal Legends: What is it that you always wanted to be or do? Are you currently doing it or have you chosen a completely different path in life? Finding one’s true calling and following it is not as difficult as it seems. You need to have an open mind, free yourself from external voices, which constantly tell you what you can and cannot do and then figure out what you want to spend every single day of your life doing. To read my story please click here.

2. Your Heart: When was the last time you just did something because it felt right? We all face an information overload in today’s world. It causes us to over analyze and rationalize to an extent that is completely unnecessary. Along the way we lose ourselves and the reasons why we chose one pathway over another. We need to keep the conversation between our heart and our brain at a healthy equilibrium to help us reach more rounded decisions. To read more please click here. 

3. Fear: Venturing into the unknown gives the best of us cold feet sometimes. What is important to remember is that this is a natural emotion and one which we need to learn to recognize , face and work our way through. We need to understand where it stems from and deal with the core and root issues instead of fighting it blindly. To read more please click here.

4. Courage: An essential quality, one which everyone should focus on developing. It provides a strong foundational base to lead a richer and more meaningful life. You will continue to find yourself in sticky spots in life, be it pertaining to business, career or your personal relationships. Each of them will require you to standup for yourself and face them head on. To read more please click here. 

5. Tests: From the simple to the complex, we will face a multitude of tests during the course of our lives. How we deal with them and what we learn from them is of the essence. Some will be so severe that every waking minute of your day will revolve around them and it is in these tests that we truly discover ourselves and who we really are. To read more please click here.

Everyone derives different meaning from ‘The Alchemist’ and what it meant to them. These were some of my interpretations on a few of the book’s core issues and how I was able to relate to them. If you have read the book and have any insights which you would like to share I would really appreciate that.

Tests

“…before a dream is realized, the Soul of the World tests everything that was learned along the way. It does this not because it is evil, but so that we can, in addition to realizing our dreams, master the lessons we’ve learned as we’ve moved towards that dream. That’s the point at which most people give up. It’s the point at which, as we say in the language of the desert, one ‘dies of thirst just when the palm tree’s have appeared on the horizon.” Paulo Coelho

Tests are points of inflection which determine the course one’s life will take. They come in varying degrees of intensity from the simple such as sticking with your diet plan to the complex such as risking all your life savings for a business you believe in. How we cope with these battery of tests moulds our life and has a direct impact on our level of happiness, success, health and stress levels. We go through a mix of emotions whenever we are put through one of them and go into this internal dialogue which weighs out the pro’s and con’s and attempts to make sense of the situation. 

At times we are confident how we will deal with them as compared to others when we stay up all night wondering why out of all the people in the world, it is we who have to go through this. It is during these complex tests that we develop the ability to look deeper into ourselves and see all the steps which have lead up to this point. For example, if you have ever started a company you will know that getting that first big client is just about the biggest test a startup goes through. Day and night the team does its best to identify, convince and close that deal. Yet weeks and months go by and no deal is closed. It is at this point that each and every team member is tested on their commitment, belief and faith in the company’s offerings. Do you quit or do you go back to the drawing table and figure out why you have not been successful? 

In the book ‘The Alchemist’ the main character has to pass through several tests before he reaches what he truly desires. Along the way, life tempts him with the easy way out,  tells him to settle for less than he knows he deserves and at multiple times leaves him with nothing to hold on to to gauge how badly he wants to reach his goals. We will undergo everyone of these tests on our journey to fulfilling our personal legend as well. There have been times in the past when I was starting out that quitting and heading to the corporate world was often on my mind. It was a time when I really had to ask myself “What is it that I truly want?” and “What was is it that makes me truly happy?”. It was an intense time in my life but I got through it and am happy with the path I took. 

Everyone will face similar tests, whether you are an entrepreneur or not. At times we may just give up hope and take the easier way out, doing that is human so don’t beat yourself up about it. If anything, look back at that time and figure out why you took that decision, was there anything you would do differently now? Learn from those tests and they will help you overcome the future ones with a more ease. 

The next time life puts you in a bind keep your chin up, stay focused and follow your heart. 

Courage

“Courage is the quality most essential to understanding the Language of the World.” Paulo Coelho

To overcome your fears you need to first have the courage to face them. You need the will and strength to break down all the barriers, be they physical or psychological. Taking that first step requires courage, the need to believe in yourself, your personal legend and your ability to move forward. The beginning of this process is a difficult and lonely place, for this is a decision that has to be taken on ones own . This one decision will impact the rest of your life in ways you have not even begun to fully understand. As you develop this virtue and inner strenght you will tread further on the path to accomplishing great things. 

When I started business, it was an uphill task getting our product line ready, to the day we had our first customer meeting. Everyday is a test of courage and committment and continues to be so even a couple of years down the road. Over time I have been able to overcome some obstacles, but I am still fighting to overcome others. To gather courage and use it as a concentrated force has to come directly from your heart. In the ‘The Alchemist’ the main character is in continuous strife with his heart. There is a constant struggle between the rationalization of the brain and the urgings of the heart to go with his gut to fulfill his personal legend. You can sense the anguish he feels when torn between the two and the inner peace and joy he feels when he goes with his heart.

Being an entrepreneur you will find yourself in this conflicting state many a time. It could be in the shape of standing up to your team when you believe the right actions are not being taken, giving critical feedback, admitting when you are wrong and changing your ways when it is so required. You will experience doubt and reservations specially when you move outside your comfort zone. I still get this feeling when I push myself to go further than I have before. It is however most invigorating , makes me feel alive and keeps me in touch with the world. Start developing this virtue , it is one that will take a lifetime to master.