5 Life Lessons I Learned From Losing Everything

5 Life Lessons I Learned From Losing Everything

I know what it’s like to lose everything.

I’ve been laid off.

I’ve been broke.

I’ve been bankrupt.

I’ve been criticized.

I’ve been rejected.

I’ve been laughed at.

I’ve been doubted.

I’ve lost my biggest clients.

I’ve lost my best employees.

I’ve lost business partners.

I’ve been served.

I’ve been sued.

I’ve had times I was terrified, devastated, exhausted and wanted to give up.

…But I didn’t.

And that is why I have been successful.

When people look at my life now, I might look like the picture of success, but what you don’t see is that I have faced more failure than success. It has taken me 20 years to get to where I am now.

Ultimately, success is about overcoming failures – a lot of them – continuously – some will be small and some won’t let you sleep at night.

All entrepreneurs face failure and hardship, but the successful ones keep going long after most would have given up.

There are no shortcuts to success. I don’t know anyone who has been really successful who has not had significant failure and challenges along the way.

Right after college, I landed my dream job at an internet startup, a job I believed couldn’t be beat. After just a few short years that company went bankrupt and I had gotten laid off… right after having to lay off most of my friends who I convinced to come work with me. My career was gone and the people around me had every reason to doubt me.

So when I started entertaining the idea of starting my own company, they all told me I’d fail. They told me I had no idea what I was doing. They told me to play it safe.

But if I had listened to them? I definitely wouldn’t be where I am today.

I chose to believe in myself and start my own company, even though everyone around me was telling me not to. I decided to press forward, against all odds.

And that risky little company? Turns out, it wasn’t a failure at all. What started out as a $10k loan from my grandma turned into a startup business run from my kitchen table… which eventually turned into a multimillion-dollar company.

My business was founded on resilience, and my resilience has been tested ever since. But all of those obstacles that I faced only made me stronger.

No matter what you’ve been through, no matter what setbacks you’re currently facing, I believe you can rise to the occasion, be resilient, and achieve success. Here’s how you can face challenges head-on – and be better for it.

1. Believe in yourself.

One of the most important lessons I’ve ever learned is this: your confidence has to be greater than everyone else’s doubt. If you’re attempting anything risky and worth doing, you’ll inevitably have a few doubters. But whether you listen to them or not is your choice. Instead of letting their negativity cloud your mind, zero in on your vision. Keep your gaze on your North Star and continue to prioritize your passion.

Choose to trust yourself. Choose to have faith in your skills and ideas. Believe that you have what it takes to accomplish your vision, no matter what anyone else says. Then, rise to the occasion and work until you prove yourself right!

2. Expect uncertainty.

Often, the only thing certain in life is uncertainty. No matter how perfect your plans are, no matter how well you may have prepared – sometimes, life is going to throw you a curveball. Be flexible and expect the unexpected.

Of course, that doesn’t mean you shouldn’t plan or prepare for the future as best as you can. Good leaders are always looking toward the future and looking for ways to improve. But it does mean that when circumstances do change, you’ve got to learn to be present and adapt accordingly – not just blindly follow your original plans. Whatever you do, don’t let uncertainty stop you from pressing forward – embrace it and trust that you’ll be able to handle whatever lies ahead.

3. Choose to have a growth mindset.

A person with a fixed mindset believes in limitations. He or she resists change, believing that it is painful and difficult. On the other hand, a person with a growth mindset recognizes that change isn’t just possible, but that it’s also a driver in creativity and success. He or she believes that in every situation, be it good or bad, there’s an opportunity to learn and see things differently. Stumbling blocks turn into stepping stones.

Successful executors understand that not only will difficulties occur, they’ll also present the very best opportunities for growth. While setbacks are usually uncomfortable and even a little scary, they can help us become better. Try to reframe every challenge as an opportunity to learn and grow.

4. Fail Forward

Did you know that people who have previously failed are twice as likely to succeed compared to first-time entrepreneurs? All entrepreneurs face failure and hardship, but the successful ones keep going long after most would have given up. Because failing isn’t the opposite of success – it’s a crucial step towards it.

In order to face challenges with resilience, understand that that failing doesn’t make you a failure. Deal with obstacles, crises, and setbacks in constructive, creative ways. Do your best to fail forward and thrive in the process of change. And fail often, so you get comfortable with it! Honestly, I believe that if you’re not failing and bouncing back constantly, you’re not trying hard enough. I still fail all the time – it’s a sign that I’m learning and growing.

5. Focus on your vision

When setbacks come (and they will!), it can be tempting to focus on the negative things that are right in front of you. Make sure you never allow setbacks to distract you from the most important thing: your vision. In times of crisis, it’s more important than ever to zero in on your vision. Let it guide you to where you need to go, even when you encounter an unexpected fork in the road. Keep your eye on the prize. If you’re deeply committed to your vision, no obstacle will ever be too great for you to overcome.

Resilience is a crucial part of execution. Without the ability to learn from your mistakes, adapt to new circumstances, and bounce back after setbacks, you’ll never be able to execute at your highest level. But as you learn to believe in yourself and expect the unexpected, you’ll be able to face crises with confidence. As you choose to view challenges as opportunities, fail forward, and stay focused on your vision, you’ll be able to reach your true potential and achieve success.

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Kim Perell is widely recognized entrepreneur, investor and national best selling author. A great believer in paying it forward, Kim loves to help aspiring entrepreneurs achieve success and is an early stage investor in over 80 start-ups, 15 of which have successfully been acquired by some of the largest Fortune 500 companies.

Supercharge your Success and visit Kim's website at at Kim Perell or follow her on on Facebook, Instagram and Twitter

 

 


5 Ways to Pivot Your Business During a Pandemic

5 Ways to Pivot Your Business During a Pandemic

“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.” Charles Darwin.

In a matter of weeks everything changed. Uncertainty is the only thing that is certain. Most businesses have been greatly disrupted and negatively impacted. Companies, CEOs, executives, entrepreneurs, employees and business-owners are facing a time of great uncertainty and what lies ahead is unclear.

Entrepreneurs know that some of the best businesses come out of the worst times -- because sometimes in our darkest moments, new ideas and innovations provide beacons of light. All we need is the glow of a great idea. What new companies, products, movements will be born out of our new reality? As an entrepreneur and CEO who has weathered the dot-com bubble burst, September 11th, and the market crash in 2008, I know firsthand the potential devastation facing businesses today. The COVID-19 economic impact is unprecedented but there are still opportunities to come out stronger than ever before.

I’ve personally had to pivot many times, and while it can be scary, it can also be a time of growth. Now is the time to experiment, create and innovate. Of course, that’s easier said than done. It’s tough to pivot your business during times of immense change. Before pivoting, I recommend first to stabilize your business to the best of your ability. It is important to tighten your belt, evaluate your costs and ensure you take the necessary actions to weather the crisis.

There are likely changes you wanted to make in your business but haven't and now is a time to act. Evaluate your talent, review your contracts, decide what is truly necessary to run your business. Make sure you spend your cash wisely. Look closely at your financials to see how you reduce your losses. It’s time to streamline so you can move forward without the weight of unnecessary cost burden.

A business that was weak during a good economy is greatly exposed in a bad economy. If your business is not working now, and was not working well 6 months ago, it may be time to re-examine its long term viability. Winston Churchill once said: "Never let a good crisis go to waste". Use this crisis to get out of businesses that aren’t working and haven’t been for some time. Invest your time and energy on what is working vs what is not working. Now is the time to be brutally honest with yourself!

It is also a good time to take advantage of financial resources available. Many of the companies in my portfolio have applied for the federal government’s paycheck protection program. If you haven't already, it is important to educate yourself on the many forms of aid, resources, and support made available.

Once you have stabilized your business it’s time to focus on the future. Here are 5 ways to pivot your business to not only survive, but also to thrive:

1. Embrace the Digital Way

If you’re primarily run out of a brick-and-mortar store, it’s time to find the digital version of whatever work you were doing. Can you deliver your product or service electronically? Restaurants have been hit especially hard by the pandemic, and many have transitioned to online delivery and curbside to-go orders. Panera Bread has taken things a step further, by making it possible for customers to order groceries online along with their usual sandwiches and salads.

If you own a boutique, now is a great time to launch an eCommerce store with a 90-day Shopify trial. If you’re a fitness instructor, you can hold your regular workout classes virtually with Zoom. If you are an interior design company, pivot to virtual consultations, you can also create content with links to buy products. Real Estate agents have embraced a virtual presence, from doing 3D tours, facebook live and virtual walkthroughs, to even featuring homes on TikTok. My local liquor store is offering home delivery, and doing cocktail making courses and wine tasting sessions via Zoom. With everyone stuck at home, the demand for online content is higher than ever.

Ask yourself: what you can provide online?

2. Leverage Your Existing Assets and Resources

Leverage your current assets and resources and align them with your customers’ current needs. What could you change in order to fulfil those needs?

Businesses of all sizes are already making successful pivots in order to fill different customer needs and continue to operate. Cosmetics manufacturers such as LVMH, which owns luxury perfume and makeup brands, have switched to making hand sanitizer, leveraging their expertise and production capabilities. Large clothing manufacturers such as Gap, Nike, Zara, and Brooks Brothers, are using their factories to make masks, gowns and scrubs.

Amid the steep ride-sharing demand decline, Uber launched an On Demand Work Platform, going from ride sharing to labor sharing. Through Uber’s Work Hub, Uber drivers can connect with other Uber platforms including: Uber Eats, Uber Freight, Uber Works, or a growing number of companies using Uber’s system including McDonald's, PepsiCo, UPS, FedEx, and Walgreens. This pivot allows Uber to leverage its largest assets, technology and vetted workforce, and supports drivers in finding access to alternative work.

Ask yourself: What do people need most right now? How can your company fill that need with your existing resources? If your business is unable to operate, is there a way to pivot to digital or a business that is deemed essential?

3. Deepen Loyalty with Existing Customers

We’re all in this together. Be real, authentic and transparent about your efforts to serve your customers as best as you can – and let them know how they can support you in return. Loyal customers are champions for your company and brand ambassadors. Continue to maintain a strong relationship with your clients whether directly, individually, in newsletters, and or/via social media. Show them you care. Trust matters (more than ever)!

With people spending more and more time online, it’s a great time to share relevant and engaging content related to your business. One local interior designer has been sharing photo montages - including a handwashing themed series with a collection of beautiful bathroom images. A local salon is sharing a series of photos of stylists each holding up a sign featuring a different word, collectively telling customers "that we miss them, and we'll see them soon."

Sky Zone, an indoor trampoline park that is a favorite for hosting kids birthday parties, has 160 locations that are temporarily closed now. To help give back to families who still want to celebrate while staying at home, Sky Zone is offering free virtual birthday parties for kids for up to 10 guests, supporting parents and keeping employees working. Sky Zone is making a meaningful and memorable impact on children, parents and the community, deepening their customer relationships.

Figure out the best way to engage with your current customers and do so in creative ways.

Ask yourself: How can I best engage and communicate with my customers now? What can I do to encourage my current customers to support my business? What are other companies doing to engage customers that I could also be doing or could help my business?

4. Explore the Benefits of Collaboration

There’s an African proverb that says, “If you want to go fast, go alone. If you want to go far, go together.” The objective of collaboration can be new ideas, exploring synergies, and creating new business partnerships, where 1+1 = 5. Partnerships can help give you access to new customers, new products or new markets. What partners can you work with that also have resources you can leverage? Is there a partner you think could help sell your product or service to their customer base? What could you offer them in exchange? Is there an opportunity to bundle your products together? True partnerships and successful collaborations are win-win.

It’s also important to collaborate with other businesses for support and ideas. Being a local or small business can feel especially isolating, but there is power in numbers and more ideas. Make an effort to connect, whether it’s a neighboring business, a local chamber of commerce, industry trade group, or even a Facebook or LinkedIn group.

Collaboration doesn’t have to be on a grand scale to be effective. For example, once their storefronts closed due to COVID-19, local ice cream parlor NORMAL Ice Cream partnered with Diabolical Records to offer a home-delivered package deal of 3 pints of ice cream and $30 worth of vintage records for $50. They announced the partnership on their social media pages and sold out within hours!

Many companies have forged innovative partnerships during this time.

Ask yourself: Who could I collaborate with? What businesses do I have synergies with or common customer profiles? What current partnerships would be mutually beneficial to my business?

5. Try and Fail (and Try Again!)

There has never been a better time to try (and fail!). Now is the time to experiment. Quickly launch new ideas with minimal investment. Focus on results. Learn and improve with each iteration. Not everything you try out will work. And that’s okay. Expect to fail. Move on. It may take multiple attempts to figure out what works for you. Be brave. Have courage. Persistence pays off in the end.

There are many famous pivots. YouTube was once a video dating site. Twitter was once a podcasting network named Odeo. Play-doh was once a wall cleaner that pivoted to a beloved children’s toy.

Even the most successful and famous companies have had numerous failures - some of which you may not even remember - Google's social media Orkut, Coca Cola launching Coke Max, and Amazon’s Fire phone. Inventor Sir James Dyson created 5,126 vacuum designs until he finally invented a bagless vacuum that worked.

Ask yourself: If I do a small test of a new idea and it fails, what is the worst that can happen and what knowledge can I gain from trying? How can exploring a new partnership or collaboration benefit me?

Embrace the Pivot:

If your business has been greatly impacted by the current crisis, you’re not alone. It’s important to remember that great companies can be built in hard times. I started my first company after the dot-com bubble burst which eventually grew to over $100M in annual revenue. Many of the successful companies you see today - WhatsApp, Uber, Credit Karma, Pinterest, Slack, Venmo, and Square were all founded during the 2008 Recession. Embrace the pivot! Don’t focus on what you can’t control...think about what you CAN.

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Kim Perell is widely recognized executive, entrepreneur, investor and national best selling author. A great believer in paying it forward, Kim loves to help aspiring entrepreneurs achieve success and is an early stage investor in over 80 start-ups, 16 of which have successfully been acquired by some of the largest Fortune 500 companies.

You can visit Kim's website at at Kim Perell or on Facebook, Instagram and Twitter

 

 


5 Simple Ways to Stay Positive & Productive

5 Simple Ways to Stay Positive & Productive

These are unprecedented times and with so much uncertainty it’s hard not to feel scared and uncertain about the future. As we enter this time, it is important to seek new places to find joy, learning and inspiration. For those of you looking for something else to do besides watch the news, scroll social media, or binge on Netflix, I wanted to share the top 5 ways I’m staying positive and productive.

I know it seems all but impossible to think of possible silver lining at this time when many of us are worried about the health and finances of ourselves or a friend or family member but taking care of ourselves lowers stress, and maintains both mental and physical health. Remaining productive is more important than ever. Don’t focus on what you can’t do...think about what you CAN accomplish during this time.

1. Set a Schedule

With 4 kids 5 and under I have had to adjust my schedule significantly to find a new “normal” . Having a set schedule gives me a sense of purpose and sets me up for a productive day. It's easy to stay in my PJs all day, but I feel so much better after I shower and have breakfast with my family before homeschooling starts. Morning rituals set you up for a productive day ahead. I also find it helpful to make a list each night of the top 5 priorities I need to accomplish in the day ahead. There are so many distractions at home, the list keeps me on track so I don't mistake busyness for progress. Plus, I feel so productive at the end of the day checking things off the list. They can be anything from laundry, to taking a walk outside, to an investor call. Be intentional with your time. I also put a limit on my daily screen time, especially now when it is so easy to get consumed by the media. This also helps to ensure I don't mistakenly get lost in endless hours of digital distractions.

2. Reinvest in your Relationships

Now is a perfect time to nurture any and all your relationships. Think of someone you care about who you haven’t talked to in a while and make it a point to reconnect (today!), even if it’s just with a quick text, email or a five-minute phone call. Let them know you are thinking of them and how much you value your relationship. You can also call up friends you may have lost touch with that you miss having in your life. It’s the perfect time to reconnect. It’ll make you feel good and remind you of all of the people who are in your corner. Plus, it’ll help you keep your life centered on what’s really important: the people in it.

There are great tips and tricks to stay connected with family and friends during this time of social distancing. I use Facetime daily to stay in touch with my parents and family in Oregon and my twin sister in LA, the bonus is my kids love it too. It’s important we continue to celebrate life’s significant moments - birthdays, anniversaries, babies, even if they are virtual. We are celebrating my father-in-laws 70th birthday on virtual video and I have a friend who is doing a gender reveal party on Zoom (which offers free video and phone conferencing for up to 100 people for a max of 40 minutes at a time). You can even change your Zoom background to hide a messy kitchen or kids playing behind you. Yesterday, I was on a Zoom call with someone scuba diving with bright yellow fish swimming by, someone on a beach in Bora Bora, and someone in outer space.

3. Unleash Your Inner Creativity

This is the perfect time to pursue a new at home hobby. You can read, cook, paint, write, sing, and dance. And thanks to the internet and YouTube, you can learn new hobbies or sharpen your hobby skills for free. Whether it’s cooking, art, writing, gardening, knitting, calligraphy, scrapbooking, or origami.

It's also a great time to read an inspiring book. There have never been more ways to access great writers and great thoughts - whether it’s audio, download, or physical books from Audible, Amazon, or Scribd . There are also great apps like Blinkist (for non-fiction) and others that offer key takeaway written or audio summaries for quick review. Apple Books (formerly iBooks) also announced a free ‘stay at home’ collection of read-alongs for kids, cozy mysteries, and audiobooks.

Some recommended books for inspiration: The Power of Positive Thinking by Norman Vincent Peale, The Happiness Project by Gretchen Rubin, The Four Agreements by Don Miguel Ruiz, and The Obstacle is the Way by Ryan Holiday. I also wrote The Execution Factor: The One Skill that Drives Success, designed to help people overcome obstacles and achieve success in business and life, based on my own experiences of hardship as an entrepreneur.

You can also use your imagination and get creative inside your home and yard. Whether it’s families creating “special” additional spaces and rooms in the form of a couch fort or putting up a tent in your backyard to create another room while enjoying the outdoors. We set up a tent in our backyard and it has provided hours of fun and entertainment, creating a special new kid space. When they get tired of it, I may convert it into an office! I also know people working from home who are turning their cars into phone booths for virtual work meetings.

4. Practice Gratitude

It feels like everyday can bring a new worry or new fear about what is going on with the pandemic. One of the best ways to combat worry, fear and anxiety is to practice gratitude. Gratitude is proven to help you reduce stress, get better sleep and stay healthier. A Harvard Medical School study showed that people who practice gratitude lead happier lives, are more optimistic, and have lower stress levels and better health overall.

A simple to implement practice is to start and end each day with 3 things you are grateful for (there is also a great journal designed for this - The 5 Minute Journal). You can make gratitude a shared practice at family dinner and have everyone share one thing they are grateful for.

We all have things we can be grateful for. Whether it is your health, your family, your pet, the food on your table, the many people working at hospitals, grocery stores, warehouses, pharmacies, delivery drivers, and many others who are working tirelessly at the frontlines to support all of us and the community.

Be sure to also practice self-gratitude. Reflect on what you are doing well, or what you have accomplished (no matter how small), think of your personal strengths that are helping you and the people in your life positively handle this crisis. It’s important we give as much compassion to ourselves as we do others. Adding simple touches to your most frequented rooms to inspire you or put you in a positive mindset are also great. One friend framed simple positive affirmations in her home work space so she is able to look at them where she spends the most time every day.

5. Start a Side Hustle

Nearly half (45%) of U.S. workers say they earn extra income on the side (according to a 2019 Bankrate.com report). As the economy feels uncertain and many individuals are impacted financially, having multiple streams of income has become top of mind for many.

This could be the perfect time for you to consider pursuing one or more Side Hustles based on your lifestyle, schedule, skill set, and income needs. Some areas of immediate opportunity due to increased demand for side hustles right now include care workers, package and grocery delivery, grocery shopping, and online tutoring & teaching.

Side Hustles and gig economy positions are expected to continue to play a key role in these times and beyond as businesses value the flexibility provided as they navigate uncertain demand. There is also a greater need for innovative thinking, entrepreneurship, out-of-the-box solutions and problem solving than ever before. Side Hustles are a great way to earn income, pursue passions, and build your entrepreneurial skill set.

As an entrepreneur who started my first business from my kitchen table, I’m very passionate about Side Hustles, and I recently partnered with Women Entrepreneur for an initiative that seeks to support 20,000 women starting side hustles in 2020. You can learn more about it here at sidehustlestartupkit.com. Technology has made it easier to find the right side hustle that is perfect for you, and to continue to advance your knowledge and upgrade your side hustle. LinkedIn also posted a great article this week on who is hiring right now.

You can’t change the current situation, you can only change how you react to it. You have the power to be positive and productive. Set a schedule, reinvest in your relationships, practice gratitude and try something new.

When fear, anxiety, frustration, or stress start to kick in, turn off the news, put down your phone and focus on things that make you feel happy, passionate, and in control.

Think positive thoughts. Speak positive words. Choose a positive attitude.

You have the power to choose what to focus on.

#StayPositive #StrongerTogether #Inspiration #Gratitude

Kim Perell is widely recognized executive, entrepreneur, investor and national best selling author. A great believer in paying it forward, Kim loves to help young entrepreneurs achieve success and is an early stage investor in over 80 start-ups, 15 of which have successfully been acquired by some of the largest Fortune 500 companies.

 

 


3 Ways to Make Your Relationships the Best They Can Be in 2020!

3 Ways to Make Your Relationships the Best They Can Be in 2020!

“You are the average of the five people you spend the most time with.” —Jim Rohn

We are much more influenced by the people we hang out with than we imagine. Others don’t just give us ideas and feedback about ourselves; they can affect our energy, too.

Because of this, I take stock of the people in my life every year, sometimes reflecting on my relationships in the moment as well. I categorize them according to who lifts me up, who brings me down and who does neither. I make a conscious point to spend more time with the people who inspire me and less time with the people who either hold me back or don’t positively impact me.

That doesn’t mean you have to stop hanging out with anyone who isn’t a Nobel Prize winner—inspiration and positivity come in a variety of forms. I was very inspired by my Uber driver the other day, for example. He told me that he was working 14 hours a day in the military while driving for Uber on the side. His above-and-beyond work ethic inspired me.

It’s crucial to be curious about other people and to try to understand what makes them tick. Find other people who are passionate about life and what they do, and always stay open to new relationships by being curious about people.

Seeking out new connections inevitably means reducing time spent with some of the older ones. You don’t need to cut ties completely unless they’re truly toxic. The key is to understand the value of each of your relationships. You certainly don’t need to be spending time with people who drain your energy or seed doubt in your ability to execute. The more you surround yourself with amazing people, the more you’re called to step into greatness.

The law of averages tells us that in order to increase your wins, you have to increase your losses. This theory fits perfectly with the practice of taking stock of your relationships. Think about it: You have to meet many people in order to find the ones who have a truly positive influence on your life. The more people you meet, the more likely you are to find those influential relationships, personal and professional. It involves putting yourself out there and engaging with some people who might offer you nothing.

I call this process of evaluating existing relationships a “life audit.” If a relationship isn’t helping you grow or making you happy, it might be better to significantly reduce your contact or even sever ties completely. My personal audits help me identify who’s a positive influence. Making a conscious effort to consider my relationships has been extremely rewarding.

I am constantly evaluating who’s emotionally draining me and who’s giving me energy. If you aren’t motivated, inspired or challenged by the people you spend time with, it’s harder to be successful and happy. Being with people who believe in you and provide the strength you need to turn your dreams into reality is critical because wherever they’re going, you’re going, too. These audits help me better understand my relationships and the roles different people have in my life, as well as my role in the lives of others.

Start with three key steps to make your personal and professional relationships the best they can be:

1. Proactively seek new relationships.

You should seek out those who inspire you at work and spend time with them. Build relationships with them apart from your job. Send a note, ask them to coffee or simply approach them at a work event. Connect with new people outside of work, too. Attend industry wide events and explore personal hobbies. After all, to surround yourself with inspiring people, you have to connect with them first.

2. Associate with people who are different from you.

Find people who succeed where you fail and try to learn from their journeys. Chances are you have something to offer them, too. Although our instinct is to surround ourselves with people who are similar to us, it’s also important to branch out and converse with people who might have a different approach.

3. Keep your standards high.

Remember, you’re the average of the five people you spend the most time with. As new people enter your life, ask yourself who strengthens you and who drains you. Who helps you succeed and who highlights your failures? Does the idea of spending time with a person excite your spirit or sap your energy? Decide who’s worth your time and who isn’t. Time is your most valuable asset, so use what you do have on the people who bring out the positive in you.

At first, the idea of removing people from your life or limiting your interactions with them might seem ruthless. It might sound like the cold hearted behavior of someone who doesn’t care about people, but it’s actually a heart-centered process that allows you to create healthy relationships. Through it, you can create a more productive, inspiring and emotionally fulfilling life!

Change the course of your life in 5 minutes! Access My Exclusive Life Audit Here.

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Kim Perell is widely recognized executive, entrepreneur, investor and national best selling author. A great believer in paying it forward, Kim loves to help young entrepreneurs achieve success and is an early stage investor in over 80 start-ups, 14 of which have successfully been acquired by some of the largest Fortune 500 companies.

For more tips on how to Supercharge your Success you can sign up for Kim's weekly newsletter at Kim Perell or follow her on on FacebookInstagram and Twitter

 


5 Simple Strategies to Overcome Your Fear of Failure

5 Simple Strategies to Overcome Your Fear of Failure

They say the only thing we have to fear is fear itself… but that doesn’t stop people from being afraid of pretty much everything. From spiders to public speaking to clowns, life can seem pretty scary. If we’re not careful, fear can dictate our decisions, our actions, and ultimately our outcomes.

Fear of failure is one of the most common and threatening phobias, especially among hopeful entrepreneurs. Mohsin Shafique even claims it’s the top reason people don’t set goals or try new things. In fact, a recent study found that 33% of Americans say fear of failure holds them back from starting a business.

Trust me, I’ve felt that. Before I first started my digital advertising business at my kitchen table, I was terrified. Sure, I grew up with two entrepreneurs for parents and I believed in myself most of the time… but that didn’t mean I knew what I was doing. At times, I felt totally in over my head.

Even the most confident of entrepreneurs aren’t immune to the fear, self-doubt, and uncertainty that tend to accompany just about any risk — but many of them start businesses anyway. So, what’s the difference between successful entrepreneurs and would-be entrepreneurs whose fears hold them back?

It’s all about how they address fear.

Some people zero in on that little voice that says they’ll fail and decide to quit while they’re ahead — preferring to let opportunities pass them by rather than taking a risk. But others listen to hopeful, supportive voices. They ignore fear, not because it doesn’t exist but because it isn’t helping them get to where they want to be.

When I started my business, I knew there was a very real possibility I’d fail. And I knew all too well what that sting of failure felt like. But I kept going anyway. While that’s easier said than done, it’s possible for anyone to do the same. Here’s how you can overcome your fear of failure and start doing the things you’ve always dreamed of doing:

  1. Acknowledge your fear. Being afraid of failure isn’t a sign that something’s wrong with you. It doesn’t mean you’re weak. Fear is a natural human emotion. Love yourself enough to let yourself feel whatever it is you’re feeling. Then, discuss your fears with people you trust and examine why you feel that way. Both of my parents knew what it was like to take risks and start a business, so talking with them about my worries always made me feel validated and capable.
  2. Don’t internalize failure. When things don’t go the way you hoped, do your best not to blame yourself. Failure isn’t a reflection of your self-worth or ability — it’s an unavoidable part of life that’s totally necessary for personal growth. In other words, failure doesn’t make you a failure. You can fail and still be a strong, smart, capable person who’s destined for success.
  3. Focus on the things you CAN control. If starting a business or taking on a huge project feels totally overwhelming, start small. Set measurable, achievable, short-term goals you can succeed in on the road to success. It’ll help you think more positively and develop more confidence in your abilities.
  4. Learn from successful “failures.” Successful people aren’t just people who have never failed. Challenges and missteps always precede success. Let’s take me, for instance. At 23, I had just gotten fired from my job. The company I worked for went totally bankrupt. I was broke, directionless, and unemployed. But getting fired from that job was the catalyst for me to start my own company — the successful one that made me a multimillionaire by the time I was 30.

Here are a few other famous examples: Michael Jordan was cut from his high school basketball team… then went on to win six NBA championships and five MVP awards. Theodor Seuss Geisel, better known as Dr. Seuss, was rejected by 27 different publishers. He later went on to sell over 600 million copies worldwide. Sir James Dyson spent his entire life savings and created 5,126 failed prototypes before finally inventing his bagless vacuum cleaner. His net worth is now $4.5 billion.

So if you’ve had your fair share of failures, you’re in good company! Learn from your own mistakes and from the failures of those who’ve gone before you.

  1. Get good at failing. Failure is an inevitable part of life… so you may as well get good at it. Economist Tim Harford explains, “To be terrible with failure is either to be so scared of it that you never do anything interesting, or alternatively to be so terrified of admitting it that you continue with a disastrous course of action and you just continue to fail because you tell yourself you’re not failing.” Neither of those options are good!

Over the course of my career, I’ve had a lot of chances to become more resilient and get good at failing. I’ll never forget the weekend in 2006 when I got a phone call from my tech guy telling me our server had failed and couldn’t be fixed. We didn’t have a backup server, and all of our data — practically my entire business — was unrecoverable. I panicked. For a moment, I even considered closing up shop. But instead, I went into work on Monday and took full responsibility. I personally reached out to our clients one by one to explain what had happened. I assumed all the blame and asked for their patience and support as we remedied the situation. Then, I worked around the clock to fix things. Remarkably, not a single client deserted us in the weeks it took to get things back on track. I acknowledged the problem, worked tirelessly to solve it, and then resolved to never let a mistake like that happen again. And, you know what? Our company was stronger for it, and so was I. I failed forward.

When you do fail, acknowledge it, learn from it, and then do your best to be better because of it. Don’t allow past failures to get in the way of future successes.

The world needs everything you have to offer it. As you embrace your fears for what they really are and press forward courageously, you’ll find that success is just as real a possibility as failure is. Work hard, focus on what you can achieve, fail the best you can, and learn every step of the way. It’ll make the little (and big!) victories that much sweeter.

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Kim Perell is widely recognized executive, entrepreneur, investor and national best selling author. A great believer in paying it forward, Kim loves to help young entrepreneurs achieve success and is an early stage investor in over 80 start-ups, 14 of which have successfully been acquired by some of the largest Fortune 500 companies.

For more tips on how to Supercharge your Success you can sign up for Kim's weekly newsletter at Kim Perell or follow her on on FacebookInstagram and Twitter

 


4 Tips To Be a Successful Female Entrepreneur

4 Tips To Be a Successful Female Entrepreneur

It isn’t easy to be an entrepreneur in the first place, but being a female entrepreneur comes with its own set of challenges. Female entrepreneurs receive only about 2% of all venture funding, despite owning 38% of U.S. businesses. Only 4.8% of Fortune 500 companies are run by female CEOs.

That being said, succeeding as a women entrepreneur is definitely possible… and it’s so, so worth it. The world needs women to rise up in businesses, corporations, and organizations everywhere. Your success won’t just affect you – it’ll help countless other women and girls who see your example and realize they can do that, too. And with October being Women’s Small Business Month, it’s a perfect time to redouble your efforts to achieve your goals and join thousands of successful, capable female entrepreneurs all over the world.

If you’re an aspiring women entrepreneur, there are a few things you can do to ensure your success. Here are a few of my best tips to help you become the powerful boss you were born to be and succeed as a female entrepreneur.

  • Ask for what you want. In order to succeed in business, start asking for what you want. Asking for what you want is key to executing at your highest level. So ask for the raise. Ask for the promotion. Ask for the funding. Ask for the advice. Don’t be afraid of rejection – after all, what’s the worst that could happen? If you never ask, the answer will ALWAYS be no. But if you work up the courage to ask, you just might get a “yes” that’ll change your life.
  • Make sure your confidence is greater than everyone else’s doubt. I hate to break it to you, but as a female entrepreneur, you WILL encounter doubters you’ll have to prove wrong. But it doesn’t matter how many other people believe you can or can’t do it. All that matters is your belief in yourself. If you truly believe that you can achieve greatness, if you trust yourself and your ability to do hard things, if you’re confident that you’re meant to be doing what you’re doing, you WILL succeed. Sure, you’ll have feelings of fear and self-doubt from time to time. That’s completely normal. But the trick is to learn to manage your fear and doubts instead of letting them manage you.
  • Find a mentorDo you know a woman who’s already accomplished what you’d like to accomplish? Reach out to her. More often than not, she’ll be thrilled to help build a fellow woman entrepreneur up. And of course, if you’ve already found business success, pay it forward. Look for women in your area that could use a mentor. Support female-led businesses and share your success with others – there’s plenty to go around! Not sure how to go about finding a mentor? Look for a local or national entrepreneurs’ organization in your area. (Or, if you can’t find one, start with a group of friends!)
  • Look to other inspiring women for motivation. It’s true that we women have a long way to go until we achieve equality in business. But that doesn’t mean women aren’t already doing extraordinary things. There are countless women defying the odds, hustling like crazy, and changing the world. One incredible example is Melinda Gates. Just this past week, she pledged $1 billion over the next decade to expand the power and influence of women around the world. Her plan is to focus on three main areas: minimizing barriers to women’s professional advancement, accelerating women’s participation in sectors with large impact on our society, and increasing external pressure on companies and organizations.

But most of all, let yourself feel empowered and excited! There’s truly never been a better time to start executing as a female entrepreneur. Women are rising at all levels. The stage is set for women everywhere to start (and continue) doing amazing things. So be bold and ask for what you want. Be confident and believe you really can achieve your goals. Look for supportive mentors who know how to get to where you want to be. Draw upon the success of other inspiring women to keep you positive and motivated! You’ve got this!

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Kim Perell is widely recognized executive, entrepreneur, investor and national best selling author. A great believer in paying it forward, Kim loves to help young entrepreneurs achieve success and is an early stage investor in over 80 start-ups, 14 of which have successfully been acquired by some of the largest Fortune 500 companies.

For more from Kim you can follow along on FacebookInstagram and Twitter or at Kim Perell.

 


So You’ve Nailed the Elevator Pitch — Now Master the Real One!

So You’ve Nailed the Elevator Pitch — Now Master the Real One!

Startups led by women are more profitable than those run by men. Of 300 companies seeded between 2005 and 2015, those founded by a woman outperformed those with male founders by 63 percent. And the ROI of women-led tech companies averages 35 percent higher than men in their field.

But there is a discrepancy when it comes to funding. While companies with male leadership received $49.3 billion over the course of two years, those with a female leader only got $1.5 billion. And when a man and a woman pitch the same idea, the man is 60 percent more likely to receive funding.

Developing Confidence in Your Ideas

In my experience, the problem stems from the number of women pitching to begin with. Out of 80 companies I have invested in, only a handful are led by women. I’m not the only angel investor who is disappointed by the lack of female entrepreneurs.

I want to tackle the issue at the source: the pitching process.

It makes no difference whether you are a man or a woman; if you have a good idea and know how to execute it, you can succeed. The key is to make sure your confidence is stronger than anyone’s doubt. I have never once thought of myself in terms of my gender. Even when others have doubted me, I’ve committed to doing whatever it took to reach my goals. You must be willing to put yourself out there and network with potential investors and business partners.

I was 23 years old when I started my first company — of course I had doubts! But I had confidence in my knowledge of internet marketing, and, despite the collapse of the dot-com bubble, I knew I could succeed. Everyone thought I was crazy. Starting a company in the worst time in the market at 23? As an entrepreneur, ultimately, your belief in yourself must be stronger than anyone’s doubt.

How to Pitch Successfully

The most important factor that inspires me to invest in someone is this: Can you convince me of your ability to execute? Do I believe you will take action, get results, and overcome obstacles? If I’m not certain you can pull it off, I won’t invest. Here are three tips for crafting a pitch no one will turn down:

1. Master your elevator speech.

Make sure you have perfected your “elevator pitch.” That means that you have a quick, easy-to-understand version of your pitch that you can deliver in less time than it takes to ride an elevator.

You should be able to explain your idea to anyone, any time. Staying concise matters during the real deal, too — your first meeting with investors will not be long. The extended version of your pitch should take no more than 20 minutes.

2. Account for every possible question.

Your pitch needs to address every question an investor could have. What is the market need, and who is demanding it? How does your idea solve that need? Use your elevator pitch. How will your idea make both revenue and profit?

You need to really sell your investors — what have other companies in the space sold for? How much capital will you need, and how will you use it? Investors want to know what they will get out of their contribution, so calculate your request by estimating double the time and cost you expect. Plan for the worst-case scenario.

3. Convince investors to believe in you.

Your biggest challenge is convincing investors to believe in your ability to execute, so tell them your story. What have you done that proves you can make this happen? Businesses may change and trends may pivot — investors need to be confident that you can pivot, too.

Surround yourself with a team that supplements any perceived weaknesses, and convey both realism and passion so potential investors can see that you will persevere, no matter what it takes.

Success doesn’t depend on your gender; it depends on your ability to work hard and make others believe in you, too. If you can pitch your idea so that investors are confident in you, success is just around the corner.

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Kim Perell is widely recognized executive, entrepreneur, and investor. A great believer in paying it forward, Kim loves to help young entrepreneurs achieve success and is an early stage investor in over 80 start-ups, 14 of which have successfully been acquired by some of the largest Fortune 500 companies.

For more from Kim you can follow along on FacebookInstagram and Twitter or at Kim Perell.

 


How to Increase Your Chance of Success for Less than $4

How to Increase Your Chance of Success for Less than $4

Three of the most powerful words you can say in your life are “Let’s have coffee”. This is coming from someone who doesn’t even drink coffee! The most significant part of your life and achieving success – and happiness – is relationships. It’s key to invest time to build those relationships – in person – even if it’s just for a cup of coffee. With social media and the digital age, we tend to forget how important real face-to-face connections truly are.

Often the biggest mistake I see entrepreneurs and individuals make in their businesses and careers is not asking enough or not asking repeatedly. You have to ASK to To GET. And keep asking. Make it a habit and part of your routine. Once a month, commit to yourself to schedule coffee with someone you admire or want to connect with. And as a CEO and angel investor, one of my favorite things to do is have coffee and meet new people. People tend to assume executives are too busy or will not respond. This is not the case. In my experience, it is actually the opposite. They want to share their experiences and lessons learned.

Coffee can lead to a new job, a promotion, a partnership, an investment, a new client, a mentorship, or even a lifelong friendship. Building connections can spark new ideas, help you make key decisions and see outcomes, roadblocks and opportunities you may not have otherwise been aware of. Discussions over coffee can put into the universe what you have been wanting and striving for.

Coffee led me to making one of my life long dreams come true! A little over 5 years ago, I mentioned to someone I admire over coffee I wanted to write a book. He encouraged my idea and said, “I know a great literary agent” and connected us. That coffee and the introduction that followed led me to selling my first book, The Execution Factor, to McGraw Hill! Connections are POWERFUL and vocalizing what you want to achieve to others is powerful. Simply articulating what you want to achieve and accomplish to others can have a powerful impact in your life. The universe begins to work in your favor, and you make new connections that can greatly enhance your life.

For me, coffee has led to new partnerships, new acquisitions, new hires, promotions, new ideas, lifelong friendships and the writing of a bestselling book. I’ve even set up couples from connections I’ve made over coffee!

How to ask someone for coffee – the key is to be authentic and genuine. Be sincere in your desire to listen and learn. Do not simply network, your goal should be build connections and relationships. Do not reach out simply to get something immediate in return, as in many cases, you may not, especially after a first meeting. If you do get something from your meeting – great, but understand often it will not come from a first coffee or meeting, but much later. A path leads to a path.

Not sure where to start? Simply make a list of 5 people you admire from different areas of your life and start reaching out. You can write a letter, send an email, or reach out on LinkedIn.

When you reach out to make a connection, ensure you do your research and customize so the person can see your interest and desire is authentic versus being generic. This will also enable you to better use the limited time you have with the person. Be intentional on what you are seeking to learn or know. Asking someone for coffee in a thoughtful and authentic way signals, “I want to learn more about you, I’m interested in sharing ideas, I care about what you say and think, I genuinely value your input.”

Here is an example to inspire you.

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Dear ,

I really admire what you have achieved in xxx and would love to connect with you for coffee and learn more about your path to success. I understand how busy you are and can make myself available to suit your schedule. Please let me know what works best.

 

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Reach out to 5 people today; someone whose achievements you admire, an expert in a field, or someone whose career trajectory you want to learn from. Think about your vision for your life and who you can learn from to achieve it.

One cup of coffee could end up changing your life!

Kim

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Kim Perell is widely recognized executive, entrepreneur, and investor. A great believer in paying it forward, Kim loves to help young entrepreneurs achieve success and is an early stage investor in over 70 start-ups, 14 of which have successfully been acquired by some of the largest Fortune 500 companies.

To learn more about Kim visit Kimperell.com and on LinkedInFacebookInstagram & Twitter

 


The Execution Factor Turns 1 Month Old & Becomes a National Bestseller!

The Execution Factor Turns 1 Month Old & Becomes a National Bestseller!

Dear Friends,

The Execution Factor is officially one month old! The excitement feels surreal. I’ve been working on this for years (if not - my entire life!) and we’ve only just began. I am so very grateful for all your support! Amazing things have happened in the last month and none of this would have been possible without all of you!

In just one month, The Execution Factor is a national bestseller and ranked #2 on the Los Angeles Business Journal Bestseller List! This is truly a dream come true! What’s the one skill that will drive success in your business and personal life? Execution! I know this as it’s led to mine and I am so grateful to have the opportunity to share my story and help others succeed.

Success isn’t about IQ or knowing the right people or having the right degree or about a great idea! Ideas are a dime a dozen! It’s about Execution! And it’s a skill that can be learned.

I wasn’t in the talented and gifted class like my brother and sister in grade school, and after college, I was broke and laid off from my first job. From there, I went on to start my first company from my kitchen table with a $10,000 loan from my grandma. That company grew to over $100 million in annual revenue. If I can do it, you can do it! I’m here to support you to turn your dreaming into doing through mastering execution. Execution is the difference between success and failure.

Whether you want to buy a home, get a promotion, run a marathon, become an artist, grow as a leader, or start your own company, this book is for you to create a blueprint to achieve your goals. You are the CEO of your own life. It’s time to execute.

Many exciting moments happened over the last 30 days and I am so thankful to all of you! Here are a few highlights I wanted to share with you. ⁣

Along with the book, I have also launched The Execution Factor Fund where all proceeds from the book go to support up and coming execution-led entrepreneurs with start-up investment. With every book purchase you are not only helping yourself achieve success, you are also helping invest in someone else’s future! ⁣To learn more, please visit https://www.kimperell.com/fund/

Thank you again for all your support and making this possible. If you haven't already, I encourage you to get your copy at: https://amzn.to/2QgiI5I and follow my journey across on LinkedInFacebook,Instagram, and Twitter @KimPerell

~ Kim

PS - I am so grateful for all of the endorsements from incredible supporters whom I admire and respect greatly as leaders and visionaries in their respective fields. Below are just a few:

“Practical and must-read advice. This book is exactly what the next generation of entrepreneurs needs.” -- Bill Shaw, President, Entrepreneur Media

“Kim is a truly inspiring entrepreneur and leader whose life story is both fascinating and very motivating. I couldn’t agree more with the lessons in the Execution Factor - ideas are a dime a dozen. Execution is what really matters." --Betty Liu, Executive Vice Chairman, NYSE

 “The Execution Factor is for the entrepreneur in all of us . . . There isn’t a better blueprint to help guide you from dreaming about your ideas to making them a reality.” -- Chris Burch, CEO of Burch Creative Capital and Co-founder of Tory Burch

"The Execution Factor is a must-read for entrepreneurs or anyone looking to take your career to the next level. Pay attention and take notes - the book is a blueprint for success.” -- James Borow, Global Director of Product Strategy, Snapchat

"Kim Perell has written a very personal and compelling guidebook on entrepreneurship, how to execute with excellence, and on the importance of resilience. I already have a dozen people in mind with whom I’m going to share this work." -- JONATHAN AUERBACH , Chief Strategy and Growth Officer at PayPal

"If you're an entrepreneur, an executive, or someone just starting their career this book is a must have." --Eric Toda, Director of Marketing at Gap Inc and former Global Head of Social Media and Content at Airbnb.

“Kim is her own force of nature and this book will help you make your own path to success crystal clear.” --Mel Robbins, author of Kick Ass and The 5 Second Rule

"The Execution Factor is that rare business book that combines amazing real-like stories with concrete, actionable insights. Kim Perell has written a classic of the genre that every entrepreneur should read." --Clark Landry, Tech Entrepreneur, Investor & COO at CESPPA

"As a venture investor and advisor to large corporations I work with entrepreneurs and intrapreneurs on a daily basis. Kim Perell’s book provides practical and must-read advice to every aspiring and experienced entrepreneur." -- EVANGELOS SIMOUDIS , PhD, cofounder and Managing Director of Synapse Partners and author of The Big Data Opportunity in Our Driverless Future

“Kim brings the reader the insider tips of a successful entrepreneur, executive, and angel investor. The book is written with practical, action-oriented follow-ups in every chapter that will help change your life - whether you are trying to start a business, or buy a home, or pursue your side hustle" --Terence Kawaja, CEO, LUMA Partners

#payitforward #success #itsallaboutexecution #theexecutionfactor #bestseller #nationalbestseller #entrepreneurship #youaretheceoofyourownlife

 

 


How Resilience Led Me to Success

How Resilience Led Me to Success

Without resilience, we are at the mercy of the universe. We’re left feeling battered by the unexpected, overcome with emotions and incapable of making strong decisions. Yet, adding an ounce or two of fortitude and self-determination to our lifestyle flips the script. Suddenly, we can fail and come back stronger. We can accept life’s uncomfortable lessons and use them as stepping stones. And we can come face to face with setbacks and still smile.

No one loves to hit dead ends, but the resilient among us know how to uncover possibilities.

Uber's new CEO, Dara Khosrowshahi, for instance, is a poster child for resilience. Khosrowshahi decided to move from a comfortable environment at Expedia and tackle Uber's waffling empire. And, beyond that, he also exhibited a refreshing degree of transparency when he publicly admitted, “I am scared." Yet he tempered his statement with a clarification: He was eager to push out of his self-made box and climb into the unknown.

His acknowledgment exemplified the core of resiliency, a key factor for personal and professional success. In a study sponsored by Nationwide and Vodafone, nearly 100 percent of participants cited resilience as a factor in job success; an Accenture survey also noted that 71 percent of executives polled said they valued resilience in employees when deciding whom to hire and retain.

Surviving business setbacks

Even world-renowned business leaders experience setbacks that require resilience to overcome. Before he was a billionaire, inventor and entrepreneur, Elon Musk failed many times. In 1996, he was kicked out of the company he had founded with his brother. After that, his first iteration of PayPal was identified as a terrible business idea. And his Tesla vehicles have come under scrutiny, while several of his SpaceX rocket launches have ended in explosions.

But through all this, Musk has been determined to succeed. After each of his failures, he has dusted himself off and looked to the future, eventually building up SpaceX to the point of signing an agreement with NASA -- the first deal of its kind made with a private citizen. He’s worth more than $20 billion today, and his products are known the world over.

My own pop quiz in resilience occurred in 2005: I was at IKEA when my phone rang. My tech guy laid out the worst possible news for the founder of a startup without a backup server: Our database was gone, the data unrecoverable. In an instant, my world crashed.

Of course, a small part of me wanted to run away and forget it ever happened. But I couldn’t -- rather, I wouldn’t. Instead, I contacted our clients and bared my soul. I explained our solution -- to rebuild and install a backup source -- and didn’t wallow in my misery at having failed. Instead, I relied on resilience, and it worked because every one of those clients believed in what I said, and every one of them stayed with my company.

In short, I passed the test, but not without sprouting a few gray hairs. Still, I felt uplifted by the realization that I had weathered a rough patch; I had exhibited resilience, and now the crisis was behind us. It was an experience I had never wanted, but without it, I couldn’t be where I am today.

Preparing for your resiliency exam

Has your resilience been tested recently? If not, you can bet it will be soon. Consider implementing the following strategies to help you "ace" the next test:

1. Set your mindset to “growth."

What if you challenged the status quo and saw everything before you as an opportunity? Even stumbling blocks would appear to be steps to the next level.

That's the mindset of serial entrepreneurs who know that the five-year industry failure rate hovers around 50 percent, as evidenced by a Statistic Brain study. Does that stop this resilient crowd? Not on your life.

To become resilient, yourself, you must be open to possibilities, fostering growth. As you meet challenges, even those that seem insurmountable, begin to consider them from a new perspective. Yesterday’s failure can become tomorrow’s success if you take the right path. Perhaps the door that slammed in your face -- as happened to publisher Arianna Huffington, when her second book was rejected more than 30 times and she lost her California gubernatorial bid -- can actually jar open the window next to it. Crawl through, and see what lies beyond.

2. Focus your heart on growth, too.

Your mind isn’t the only part of your body that must become resilient; your heart should follow suit. Obstacles can hurt, causing fear, humiliation and a host of negatively perceived reactions. But we have to learn how to manager anger, frustration, shame, self-doubt and the other emotions that get in the way of resiliency.

Many times when I was working to grow my first company, I had to use my personal savings and max-out my credit cards to cover payroll. I even worked without pay for an entire year because I knew in my heart we would be successful.

Similarly, when the music site Pandora faced corporate bankruptcy in 2001, founder Tim Westergren wouldn’t give up; his dedication was so strong that 50 employees picked up on it and agreed to work without pay until the company could escape its fiscal hole. Reaching that goal took two years, but the team resilience in the face of failure paid off.

To overcome your heart’s tendency to make rocky situations seem rockier, fill it by engaging in things you’re passionate about and that inspire you. If you’re generally fulfilled, you can avoid wallowing too long in difficult situations. Plus, you will be able to say, “I did my best, and that was all I could do” -- and you’ll mean it.

3. Flex your resiliency muscles.

Athletes spend hours practicing and training each day to improve their performance. In the same way, you should practice to improve your resilience. How? By putting yourself in rejection’s path again and again.

Over time, resilience will become a habit. That’s what Starbucks employees are prepared for. They practice dealing with unreasonable customers during training. Eventually, they can respond without overacting or escalating the situation, because they have learned to adjust automatically.

Daily, I put myself in a position where I might get rejected. That doesn’t stop me. If I get rejected, I don’t take it personally -- it just means I’m not offering the right solution for the customer. I take it as an opportunity to ask questions and tailor my offering to better serve the client’s needs. So, make that phone call that scares you. Try to connect with the client you fear. But don’t give in to the desire to quit. Persevere through the trying times.

When you most need resilience, will you know what to do? By adopting a more growth-oriented frame of mind, you can increase your chances of riding out the tough spots and passing that next inevitable test.
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Kim Perell is widely recognized executive and entrepreneur. A great believer in paying it forward, Kim loves to help young entrepreneurs achieve success and is an early stage investor in over 70 start-ups, 12 of which have successfully been acquired by some of the largest Fortune 500 companies. To learn more about Kim visit Kimperell.com and follow her on LinkedIn, Facebook, Instagram & Twitter