Between professors, business advisors and customers, you're bound to face criticism as a college entrepreneur.
It's how you respond to that criticism that could either set you up for success or failure. For me, criticism is my biggest motivator. Here are four tips that I've learned about criticism and how to handle it:
1. Understand where your critic is coming from.
Realizing your idea is not the best idea since sliced bread is imperative for young entrepreneurs to understand. But hearing that criticism from someone whose opinion you hold highly can be tough to stomach.
I got roasted by someone I respect. He really doubted my business model and stressed how intense the competition was. It was the most painful 30 minutes of my entrepreneurial career. Looking back, I started to understand where he was coming from and that what he was saying wasn't intentionally hurtful. Instead, it helped me locate aspects that needed improvement. In the end, focus on those weak points people point out, and prove them wrong by showing them the sales revenue you bring in.
2. Take the negative in stride.
When someone looks at your startup and points out weaknesses, listen to them and try not to interrupt. Everything they are telling you is probably true, and you really needed to hear it. Once they point out the flaws, ask them how they'd recommend you can fix them. What you should not do is formulate a long excuse on why that is not an issue. Chances are they have more experience than you.
3. Use criticism to motivate.
As a young entrepreneur, people will often encourage you and praise your idea. However what you really need is for people you respect to tear your business model apart and point out the flaws in your idea. It'll hurt to hear it, but it will get you thinking. It may even drive you to excel so you can even debunk those doubts.
4. Don't quit.
Criticism is hard to take, but the worst thing you can do is give up. Instead go out and pursue your goal even more ardently. Fix what needs to be fixed, of course. But in the end, don't let anyone derail your entrepreneurial efforts.
How did you overcome criticism? Tell us how you handled your business critics in the comment section.
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