7 insights on how to handle setbacks as an entrepreneur

Everyone has had setbacks in life. You wanted to have or achieve something and it didn’t work out, a rejection on a job application, or even worse, the loss of someone dear to you. Fortunately, we almost always get over that. But an entrepreneur, by having a business, calls upon himself even more setbacks. After all, things really can’t always be easy. You may face financial setbacks, clients who walk away, a lack of orders, employees who steal from you, and so on.

After more than 30 years of entrepreneurship, I too have had the necessary setbacks. And I can tell you from experience that they usually come in a series. Often private and business at the same time. I’ve had clients who stole ideas, banks who drop you when you need them most, employees who ripped me off, and much more. At one point I lost half a finger in a minor accident, was in divorce with my wife, lost my father, and was cheated on and robbed by my best friend and business partner causing me to lose a business and all my wealth. And all within a span of 3 months. That requires resilience, and what I have learned as an entrepreneur are the 7 following lessons.