6 Ways To Handle Failures In Entrepreneurship
Small Enterprise|August 2019
“It’s impossible to fail if you learn from your mistakes” quotes late Steve Jobs, Apple founder and former CEO.
Amareta Rodrigues

Failure often shatters us and makes us feel like everything is over, but remember, it’s just a feeling. A failed situation is an opportunity to make one stronger and wiser. It is certain that entrepreneurs are bound to face failures, big or small, at some point while setting up or running their business

The death of VG Siddhartha Hegde, owner of the popular coffee chain, Café Coffee Day (CCD) is questioning the choice of entrepreneurship. He was declared dead on 31st July 2019 after his body was found in the Nethravati River in Mangaluru. According to a document that has been considered to be his suicide note, VG Siddhartha has apologized to his CCD staff for failing them. The note also mentions that he was unable to handle the extreme pressure from the income tax officials and money lenders, which forced him to take this grave step. Sadly, in the past, financial strains in entrepreneurship has led several established entrepreneurs like Vineet Whig (Encyclopaedia Britannica’s Chief Operating Officer), Lalit Sheth (India’s leading travel service provider Raj Travels’ owner) and Angad Paul (CEO of Caparo Industries) to end their lives.

In contrast to entrepreneurs who ended their lives on facing failures, there are entrepreneurs who survived such situations and have been role models to showcase sheer strength, determination and positive thinking. Narayan Murthy, fondly known as the father of the Indian IT sector, founded Infosys, after the failure of his first venture named Softronics. Gautam Adani, the Founder and Chairman of Adani Group, faced several difficulties before experiencing success, and Kiran Mazumdar-Shaw, overcame several challenges over the years to make Biocon one of India’s leading biopharmaceutical company.

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