By Myracle Stevenson
How do you take an “L”? Are you the type to catch an “ L” and chalk it up as a loss or, are you the type to grab that “L” and turn it into a lesson. Understand there is a different point of view when interpreting this symbol; it all depends on your mindset and how you treat it.
An insight into my personal POV on losses vs lessons.
Loss is a decrease in net income that is outside the normal operations of the business.
A loss can occur from several catalysts, such as the sale of an asset for less than its worth, or a loss from lawsuits. Allow me to elaborate. Say you have a decrease in sales, this could simply be the luck of the draw, being that sales are unpredictable. Cool, count it as a loss and add it into your book of experiences. Need more of an example, think about a time you may have had a bad quarter or even a bad year; ever thought to look back on the data and analyze your mistake that could have caused a decrease in revenue? No matter how small the mistake may be, the lack of marketing and other possibilities could make a huge difference. This lesson applies to different aspects of your life where you may experience a loss; whether it's failing a test or losing at a game there's always room for improvement.
Selling an asset for less than its worth is pretty clear-cut; NEVER SELL YOURSELF SHORT! I literally cannot give substantial discounts or do work for free or anything of the sort. I wouldn’t be able to survive nor would my business. When someone asks you to do any type of work for free, say “NO!” Unless you can afford it financially, mentally, and physically.
Lesson an amount of teaching given at one time; a period of learning or teaching.
It's simple, learn from every experience. There’s always room for growth. Grab every opportunity that is handed to you whether good or bad and create something greater. Practical knowledge and experience from a lesson is power. When you fall you get back up, so why can't you take a loss and accept it as a lesson?
The way you perceive situations to determine whether you’re going to take a loss or learn a lesson. It also sparks the question, do you have a fixed mindset or a growth mindset? At the beginning of 2018, I made a faith declaration saying, I will not take ANY losses this year. I carried that over into 2019, and can honestly say I haven’t taken not one loss, but I have learned some lessons. I wouldn’t change the way things happened simply because learning builds endurance and pushes me to be better and stronger. Don’t resist change, embrace it. Life will come at you at all angles and sides, but you can’t fold and you absolutely cannot bend. Stay strong and keep pushing forward.