Stephen Newton: Find resilience through failure


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October 6th, 2020
Hiscox Experts

Hiscox insures more than 300,000 UK businesses and has been named Best Small Business Insurance Provider by Start Your Business magazine for eight years in a row.

 
Read Stephen Newton's unskippable advice

My advice to someone who’s starting now is you have to have the resilience to follow through. If you are going to give up before the dawn, you’ll never see the sun rise.

Hi, I’m Stephen Newton, and this is my unskippable minute.

I’m the founder and CEO of a company called Elixirr. I was 30 when I tried my first business, my son was 6 months old and I re-mortgaged my house.

I mean I remember when I started Elixirr, people said to me, you’re mad, no one needs another consulting firm.

Real lessons in life only come from when you try something and don’t succeed. And I think it’s a mindset thing, I think it’s having the willingness to say ‘I will fail’ and I’ll have to. It’s a basic human characteristic of resilience.

If you get things right actually, you don’t really learn much. Failure is the way you learn.

It’s also the failures I had in the past that help me know that I’m on the right track, or that there are things that I should avoid doing.

Successful entrepreneurship requires a real commitment, and the world doesn’t owe you any favours.

I think in actual fact more entrepreneurialism happens by virtue of swimming in the opposite direction regardless.

Take failure in your stride. Analyse it, and learn from it. Be honest with yourself, and know that you can take knocks and that you're ok to deal with those knocks when everyone's telling you you're wrong.

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