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Did your business fail? 15 steps to reinvent yourself after bankruptcy

Adapt to change, go ahead and change your life. Here my experience.

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process. Opinions expressed by Entrepreneur contributors are their own.

Maybe you dream of starting a new business, or maybe you have to move, or what do you know? You will probably fall in love or sadly you can lose someone you love.

What I mean by this is that life passes and that can turn it upside down from one second to the next.

A couple of years ago it seemed like I was having the best time of my life. I had just successfully sold my startup , I had a job that paid me pretty well, and I had just gotten married. Six months later I bought a company that lost every penny it had, so from a billionaire I went " multi-broke ."

This experience taught me to reinvent myself, to adapt to change and to carry on with everything and the blows of life.

If you find yourself in a situation where you have to reinvent yourself, here are 15 ways that can help you during that journey of transformation.

1. Do you really want to change?

There are times when we are forced to reinvent ourselves. For example, when a business fails. If you don't want to change, you will never do it. In my case, I didn't want to see my family on the street, so I had no other choice.

2. wake up early

I had never been a "morning person" and to be honest, I am not one of those who are already on their feet at four in the morning. Even so, I made a pact with myself not to wake up after 6:30 in the morning daily.

Once I started waking up early , I found that I had more time to do activities that would make me a better person (both professionally and personally). I knew that no one was awake at this time so I could do a lot more, especially at work.

3. Prioritize your tasks

Reinvention doesn't happen overnight; it takes dedication and patience. To carry out your goals you must dedicate at least one hour a day to follow them; This means that you have to learn to prioritize your tasks. How? Making a to-do list.

4. Get together with the right people

Today it is easier than ever to network and while some use this to get friends or job opportunities, you can take advantage of it to be with people who make you a better person.

Seth Godin uses the example of Shepar Fairey , the name may not sound familiar to you, but you will surely locate the iconic poster he made of Barack Obama.

“The internet helped it spread. Suddenly the poster became an icon, ”he says.

Fairey didn't mind not having made a half penny "selling" the image, the only thing that interested him was that they made it known and that that connection raised his level of art. Now you no longer need to look for a job.

5. Learn

Whether it's because you're reading or you're attending a workshop or webinar, there will always be a learning opportunity.

Learning will make you more motivated , help you perform mental skills, and introduce you to new people and thoughts. I like to do this through books.

6. Find a mentor

"Someone has to teach you how to move and breathe," writes James Altucher.

There are several types of mentors:

  • Direct The mentor in front of you, the one who will guide you.
  • Indirect. Those who are not physically with you are like the authors.
  • Everything is a mentor . Altucher says:

"If you are a zero and have a passion to reinvent yourself, everything you see will be like a metaphor for what you want to do."

If you have a mentor who insists you do things the way he wants, that's fine. Learn that way and then do it your way.

7. Don't be afraid to experiment

Try new things. After having failed in my business I started different companies, I tried everything from being a blogger to having a payment agency.

Some projects were successful, others a true failure, but it doesn't matter! What counts is that you don't be afraid to give it a try. If you do what you love, you can stay a little calmer when it comes to making money.

8. Be honest with yourself and with others

I was not a humble person, so when my business failed, I did not want to talk to anyone since I did not want it to be known and do I tell you something? The more people who know, the more people can help you. Learn to be honest with yourself and face your fears.

Don't be afraid to experiment / Image: britt gaiser via Unsplash

9. Don't justify your decision

Speaking of honesty, if someone questions you, be transparent. There is a reason why you decided to reinvent yourself and if you really have the passion, the opinion of others does not have to reverse your process.

10. Get out of your comfort zone

We are "creatures" of habit, but the fact of breaking with comfort forces us to live new experiences, meet new people and learn different things.

Dr. Elizabeth Lombardo, therapist and author of "Better Than Perfect"   ensures that breaking your own mold only makes you stronger and more confident that you can reach higher levels in your personal and professional life.

"To be more creative you need to try new things and see them from a different perspective."

11. Manage your finances

Reinventing yourself won't always be free. An example could be that if you want to change careers you will have to take workshops or courses. That is why it is important to generate a budget and stick to it so that you have sufficient funds and can complete your transformation.

This is my advice: take 20% of what you are earning and deposit it in the bank. As entrepreneurs sometimes we make "a lot" of money some months and not others; take care of your finances.

12. Follow the 24 hour rule

Stay in touch with people you meet at events and build a good relationship.

13. Create new daily lists

When creating your lists, you will see how there will be details that will stay with you and others that will not. Instead of wasting all your energy in areas that you are not passionate about, dedicate it to accomplishing a desired goal.

14. Take one step at a time

Reinvention is a process that can take years. Don't get consumed by the big picture and take steps to meet and finish your goals. For example, if you want to have a better body, then your first step will be to go for a walk; The next will be to make a schedule to later go to the gym and then eat healthily. One step at a time.

15. Accept failure

Not by going to buy a guitar will you immediately transform yourself into Jimi Hendrix . Trust me, you're going to miss a lot when you try to play one of his pieces. Reinvention takes time and a lot of patience.

Over time you will accept that you are going to fail and you will learn from that and move on.

John Rampton

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Entrepreneur Leadership Network VIP

John Rampton is an entrepreneur, investor and startup enthusiast. He is the founder of the calendar productivity tool Calendar.