How to Deal with Rejection in Business?

Doesn’t it sound amazing to own a business? You are your own boss, you come when you please, you go when you please, and most of all, nobody is telling you what to do. On top of that, you can take home all the profit your company makes. Owning a business does have a number of perks, but there is a downside as well.

When you indulge in a business activity, you assume a high level of risk and uncertainty. Perhaps the consumers won’t like your product, or the cost of manufacturing would be too high for you to make any profits. An earthquake could hit and wipe out your factory. There are several other risks as well that every person partaking in a business activity has to bear and one of them is rejection as well.

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If you have ever owned a business or worked closely with someone who did, then you must be aware that rejection is a part of it. Even the world’s most renowned businessmen and entrepreneurs will tell you how everything did not come so easy for them and how they too received rejections on their way to glory.

Rejection is a part of every single step of running a business, whether you talk about gathering funds for the startup, building a clientele or finding a partner for expansion. If you are thinking about establishing a business of your own, then it would be better to prepare for rejection up front, and in case you have the fear of rejection, we suggest you drop that as soon as possible.

There is no denying the fact that rejection is bad but as bad as it is for your business, it is even worse for your psyche. Apart from sparking discouragement and frustration, it can also tempt you to give up on your dreams. What we would like to say is that you do not have to give up on your dreams and goals just because of a few negative responses. No business person in the world hasn't faced rejection in his or her life. It is merely an obstacle that will make you stronger and a better person.

Understanding how bad rejection can be in business, we are here today with some tips that will help you deal with it. Do not let the fear of rejection make you give up. You are destined for something great and all you need is a little perseverance. So, this is how you deal with rejection in business.

#1. Take Time To Let Go

Rejections can be brutal and the more emotionally invested you are in your business, the more painful they get. But being in denial regarding the rejection can be as bad for your psyche as the rejection itself so never hesitate to process how you feel. Take enough time to heal and once you are done with it, focus your complete energy on what you are going to do next. There are always going to be moments in your business when the circumstances are not in your favor, but just pick yourself up, dust yourself off, and get back in the game with the same ferocity.

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#2. Understand That Rejection Is Inevitable

Rejections are going to come your way at every turn while running a business. If you let them have a deep impact on you, then you are never going to be able to run your company smoothly. Rejection may temporarily shut your business plans down for a while, but it is only a small obstacle in your journey. At that point, make a mental list of all the good things you have done and accomplished in your business. Desire and tenacity are two qualities that will take you a long way in being a successful businessperson.

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#3. Ask And Understand What Went Wrong

Rejections are not always at the fault of the person running the business. There are times when you are turned down because of factors that are beyond your control. The unavailability of better inputs may diminish the quality of your product and render them rejected, or the small size of your firm may make you lose out on a contract. There could also be times when you get rejected as a result of someone’s evaluation of you. Whatever the case may be, whenever you get rejected, get to the bottom of what went wrong and what can be done to avoid the same negative outcome in future.

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#4. Improve Every Way You Can

Every rejection is a chance for you to improve. Once you have found out what went wrong, the next thing to do is improve yourself, so you do not have to face the same situation again. The most successful people in the world are not the ones who did not face rejection in life, but the ones who learned from them.

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#5. Keep A Support System

All of us need a support system in life to get us through our bad moments. Entrepreneurial pursuits are already emotionally taxing and add to that the stress of rejection; it makes things so much difficult to be dealt by one person alone. In order to maintain the attitude needed to stay motivated, you need people in your life who push you towards your goals. Friends and family can be that light at the end of the tunnel that guides you through the bad times. This support system can also be in the form of a mentor that can steer you away from the darkness.

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#6. Keep Your Emotions In Check

You may be an emotional person or someone who is emotionally invested in the business to a great extent. But as a professional, the last thing people expect from you is losing your emotions over a simple rejection. Though the thing meant a lot to you and the rejection would set your plans back, but a professional should never bring his or her emotions in. Also, a no to your business proposal is not a rejection of you personally, but merely the idea that you presented. You may think that it was a part of you, but it really wasn’t. It was just something that you thought of and not everybody is going to like what you think is great.

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#7. A Rejection Can Be A Blessing In Disguise

The quality of a successful businessman or an entrepreneur is that they never let rejection, or the fear of being rejected, pull them down, but instead, they turn that around to use it to their advantage. The ‘no’ you receive is a sign that you need to revisit the idea or fine-tune your business pitch a little. Sometimes, it could be a sign that you need a little clearer perspective or objective.

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Also, it is not necessary that the idea you proposed was going to do wonders for your business in reality. It may or may not have worked, so you do not need to get worked up over something that could potentially have been bad for your business.

If you are a businessperson or an entrepreneur, never let rejection or the fear of rejection prevent you from doing what you have planned for. In case you own business, tell us how you deal with rejection or suggest others how they can cope with rejection in business. We await your response.

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