Bouncing Back from Failure | BTalk

Last Updated May 4, 2011 5:10 PM EDT

Podcast


Prof. Dean Shepherd
(Episode 736; 18 minutes 35) Listen on iTunes.
What do you do if your business fails? For many people the collapse of a business is felt with the sadness of losing a relative, mixed with the shame of failure. Often there's too much distress to consider starting up again.

Yet we know that most successful business people have at least one failed business behind them. It's all part of the learning curve. Professor Dean Shepherd from the Kelley School of Business at Indiana University says the key is to ensure you don't dwell on the past and get on with the task at hand. In the end it will make you street savvy and able to succeed. He points to research scientists, whose tests usually fail: it's all part of the process they follow to arrive at the ultimate outcome. There are disappointments along the way but the endgame is what counts.

In today's BTalk, he explains how the oscillation restoration technique helps you move on from failure.