He broke up with me a day after he asked me to be his girlfriend. What can I do to make this right?

I've been dating this guy for 3 months. I really like him a lot. He cooks for me, texts me all the time, calls me all the time, takes me on dates, and introduced me to his friends and family. Yet, he had a hard time putting a title on our relationship. One day he finally asked me to be his girlfriend. I was so happy, I told all of my friends. Then the day after he called me and broke up with me, he told me he wasn't ready yet to be in a relationship and he needed more time and if we could please go back to just dating. I was so sad I cried on the phone and I said no I can't do that. I just couldn't believe it, I've been crying ever since. Please help me. I don't know what I did wrong. I really tried to make this work. I feel like a failure.
He broke up with me a day after he asked me to be his girlfriend. What can I do to make this right?
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