Setbacks and pitfalls along the road to success aren’t fun, there’s no sugar-coating it. You may lose money, time, a much-hoped-for job, or some other primary goal on your long-term road to success. While it will be painful, and there’s no way of avoiding it, how you process and respond to those losses will play a huge role in determining how successful you ultimately are throughout your lifetime. We just talked about how vital optimism is, and it applies especially in the case of setbacks. Pessimistic people may well give up at the first major setback, while an optimist may be able to see an opportunity in disguise.

Many first businesses fail, especially in industries like the restaurant business, whereas many as half of the new businesses fail. Many famous, wealthy people have a history of failed companies or ideas in their pasts, yet they could persevere and ultimately achieve success. One factor that can make you more likely to survive a setback successfully is rationally analyzing it and searching for any hidden opportunities that come along, even within setbacks themselves. Maybe a business failed, but did you make a valuable personal connection that could lead to future success?