Running into business setbacks is quite common for new and experienced business owners. Even well-known brands, like Twinkies, have experienced their fair share of difficulties. The key is knowing how to make a comeback.
You may remember when Twinkies briefly disappeared from the stores after their parent company went bankrupt. Despite this, Twinkies were soon back on the shelves thanks to “The Sweetest Comeback in the History of Ever”. How, you might ask? They rose above their business setback!
While Twinkies may not have the answer to all of life’s questions, there are a few things that we can learn from the way they handled their bankruptcy hurdle. Read on for 15 tips you can use to rise above difficult business situations.
5 Comeback Lessons Inspired by Twinkies
#1 – Count on your friends.
Hostess couldn’t have done it alone. The Twinkie comeback was driven by its loyal fans who campaigned on social media. To be resilient, it’s important to develop strong friendships.
#2 – Simplify your message.
#3 – Tap into nostalgia.
A few financial troubles couldn’t dim people’s fond childhood memories of Twinkies. One of the main things that helped them overcome their bankruptcy setback was this nostalgia. Hold on to the good things in your past, even when it’s necessary to make changes.
#4 – Pick a good name.
The words we choose have a powerful effect on our thinking. Twinkies might have disappeared forever if they were just another sponge cake, but the classic Twinkies name helped them stand out in people’s minds.
#5 – Provide value to others.
Not everything in life can be deep fried and full of sugar. (Actually, it’s probably better that way). The important thing is to concentrate on how your actions serve others and why they appreciate what you do. Twinkies knew people loved them because they remembered Twinkies from childhood as a sweet treat. The brand tapped into this nostalgia and indulgence with their “Sweetest Comeback” campaign.
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10 Additional Lessons for Overcoming Business Setbacks
#1 – Learn from your missteps.
Building on your failures allows you to learn and grow. Any experience can make you a better person if you handle it constructively. Don’t let failure stop you in your tracks — use it to become a better business owner!
#2 – Hold yourself accountable.
Is your objective still achievable now that the difficult situation has taken place? Do you still want the same thing? If the answer is “no”, that’s alright — Simply move on to step #8.
#3 – Spot patterns.
It’s common to make the same errors over and over again. Figure out what conditions sabotage your diet or make you late for work. When you recognize what’s causing your problems, you’ll be able to make the necessary changes.
#4 – Take risks.
Hang onto your courage. You may make a few blunders while you’re seizing valuable opportunities. That’s okay! Brush yourself off and try again. Remember, Thomas Edison had 10,000 unsuccessful attempts making the lightbulb before having one monumental success.
#5 – Seek inspiration.
The world is full of role models even better than Twinkies. Nelson Mandela and Martha Stewart both put their lives back on track after prison. Jerry Seinfeld froze up during his first performance and was booed and jeered off stage. There are multiple well-known people who faced failure before success.
#6 – Forgive yourself.
Others will be influenced by the attitude you adopt. If you pardon yourself, you’re likely to find more acceptance all around you. Accept that you are learning and that everyone makes mistakes from time to time. Once you begin forgiving yourself, you’ll be able to move forward.
#7 – Offer second chances.
Extend mercy to others, too. They’re likely to return the favor. This is something that you can do when you’re succeeding in business, and when you’re facing difficulties.
#8 – Acknowledge the past.
Of course, questions may linger about your previous conduct. Be forthright about the facts, and let your current actions prove that you’ve matured. It’s important to be honest with yourself and others about the setback that has happened.
#9 – Build up your capabilities.
To get more promising results the second time around, you may need to beef up your resources. If you struggled in your last job, consider going back to school for an additional degree or certification. Talk with another professional in your field to learn from their past hurdles and listen to their advice on how to rise above a difficult business setback.
#10 – Start now.
Stop dwelling on all the reasons why it would be difficult for you to make a comeback. The longer you dwell on the problem and avoid moving forward out of fear, the harder it can be to take the next step. Decide to do your best from this moment on. You may be pleasantly surprised by the results!
Rise Above Business Setbacks, Step By Step.
With a positive attitude and enough effort, you can put any setback behind you and build a brighter future. Why let the past hold you back? Even bankruptcy can’t stop business owners who use these tips to comeback from difficult situations. Twinkies taught us that!
When you’re facing a business hardship, you don’t have to subject yourself to a negative attitude. Click here to discover how you can maintain your enthusiasm when facing a difficult setback.
Are you struggling with a business challenges or setback? Let's schedule a complimentary coaching session to discuss how you can move forward.