I was recently interviewed by Jules Lund for Disrupt Radio's Start-Up Nation show on my experience with setbacks and how I deal with them. Delving into one of my biggest setback stories was such a great reminder that when you're growing a business, it's a constant process of two steps forward and one step back, or sideways. Business is never linear, and that's ok.
Nothing in business is easy. You can have a great strategy to make it easier, and you can have a strong purpose to enjoy it more, but there will always be challenges and hurdles to overcome. That's the only guarantee in business.
How you deal with setbacks, challenges and curveballs is what sets you apart in the business world, and sometimes you have to get really creative to get through it all.
Read the key takeaways from the interview below or you can catch up on the recording here...
1️⃣ Setbacks are going to happen. You can plan and plan and plan, but in business, the occasional meltdown is unavoidable. In 2020, I'd fitted out our second retail store and we were ready to go. The lease was signed, our racks were full, the float was in the till, the lot. And the week we were meant to open, the first round of the Melbourne lockdowns happened, and we couldn't do a single thing about it.
2️⃣ How you deal with setbacks is what sets you apart as a business owner. After the shock subsided and I'd drank my fair share of red wine, it was time to find a solution. I spent a week stressing, crying and questioning how we were going to get out of this debt and come out alive as a business, and I'd lulled in it long enough. Instead of focusing on all the things I couldn't do, I focused on what I could do, and even though I couldn’t open my doors, I could reach customers in a really personal way through social media, so I came up with a plan.
3️⃣ When you look for the silver lining, you give yourself an opportunity to grow. Setbacks in business are the only guarantee, but if you approach them with an open mind, work through them, give yourself the space to deal with them and then look for the silver lining, you can give yourself an opportunity to grow. Being in business isn't just about growing as a business, it's about personal growth too, and every challenge is an opportunity to work on yourself, test your resilience, and get outside your comfort zone.
If you’re running an ethical, sustainable, circular or slow fashion business and you're facing some challenges, know that it's normal.
If you want to learn how to work through them, book a strategy session here and I’ll help you move forward with an action plan.
Claire x
