The Importance of Being Resilient: The Methods and Mindset to Help You Succeed on Your Entrepreneurial Journey

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In the midst of the Covid-19 crisis, we have become painfully aware of the fragility of supply chains, health care, and other critical systems. Many leaders have announced the intention to build back their businesses more resiliently, but not many know how to do so.  

Right now, resilience is more important than ever, as there are challenges to be faced every day by business leaders and managers. Knowing how to effectively deal with these challenges can separate a good manager from a great one. Resilience will help you hold hope in uncertain time, create development opportunities, support your staff in managing challenging times ahead, but also retain and attract top talent to future-proof your organization. 

Building resilience comes down to effectively managing change and finding solutions to new challenges presented by the changing world around us. With this in mind, here are our tips on how managers and leaders can reap the benefits of becoming resilient. 

What is resilience?

It’s human nature to avoid pain and seek pleasure, but entrepreneurs are a different breed. They take risks where others play it safe. They see problems and answers where others see the status quo. They fend off comfort zones in the name of progress, even when it means potential failure. 

But the path isn’t easy, and the survival rate for startups is bleak. Talent, knowledge, skills, and experience may be building blocks of success, but often it’s the mental tools that get entrepreneurs through the journey intact. One of those tools is resilience. 

The American Psychological Association defines resilience as, “the process of adapting well in the face of adversity,” and it’s particularly valuable quality for those looking to start or grow a business.

For entrepreneurs, resilience is about rethinking the way you see setbacks, and viewing them as catalysts of growth and progress rather than threats to be avoided. Because the truth is, the times you grow—as a person, as an entrepreneur—are the times when you’re faced with extremely difficult problems and decisions. 

Gain strength from adversity

People cannot become successful without acquiring their fair share of negative experiences. Resilient entrepreneurs can turn failure into success, pain into insight, and fear into bravery.

As painful as it can be at the time, it is helpful to internally review after each major rejection or period of adversity. If you’re honest with yourself, you’ll most importantly be able to learn from any mistakes you’ve made and enhance your professional skills.  

The painful experience quickly turns into an opportunity for growth, which will set your venture up for success down the road. Another benefit of an internal review is that it provides needed perspective. A startup can quickly feel overwhelming, especially when things aren’t breaking your way, but it is imperative to realize there are only a certain number of things you can control. If you and your team performed well in those aspects, then you can take away some positives in addition to areas to address in future opportunities.  

Remember your mission

No one said it would be easy, and you started your business for a reason. You had a mission. Continue in line with your purpose, dare to be different, adjusting your course as necessary on the way.  

When what we are working towards aligns with our core purpose, it helps us to overcome adversity and not quit when the going gets tough.  Focusing on your purpose is an effective way to deal with the hard times in life and maintain perspective. resilience is about constantly adapting to change, so it helps to know that one thing will stay constant: your mission and meaning in the world. 

When they happen, setbacks can seem like the only things that matter. They appear permanent and all-encompassing, when the reality is that the majority of everyday setbacks are temporary and fixable. Building resilience requires making a shift in mindset, realizing that setbacks aren’t here to stay, and that they’re often small compared to the overarching purpose of your business. 

Resilience improves your health & the health of your business

A positive factor to be considered with improving your resilience is that it is generally considered to be beneficial for your overall health. Negative emotions such as fear, distress and lack of hope decrease your ability to deal with problems and drag you down physically, weakening your immune system, leaving you open to further lows in a vicious circle. It is unlikely that stress is ever going to be removed from our lives, so the best option is learning to take it in your stride. 

We can’t be impervious to problems and stress, but dealing with such matters positively and reaching a satisfactory outcome, will improve your sense of well-being, leaving you feeling  better about yourself and life in general. And, your business will be healthy only when run by a healthy mind! 

Resilience  is crucial if you want your business and your career as an entrepreneur to grow and last. Like any shift in thinking, it doesn’t happen overnight, but there are practical steps you can take immediately to build resilience and become better equipped to handle setbacks as you start and grow your business. 

At My Nu Ways! Business We help Small Business Owners, Start-Ups, Entrepreneurs, Freelancer & Sole Traders to achieve what they want in their business and personal lives! Our Online  On-Demand Programs are your affordable and result-driving Transformation Forces  combining Coaching, Consulting and Enablement – all you need for your Business Success and Personal Wellbeing. You can learn more about how we can help you become resilient, gain new insights and get away with prioritized, concrete action steps for your business. Lear more about our Programs here

If you would like more resources or a  one-to-one confidential, individually tailored Coaching & Consulting session to help you grow your resilience and  your business, get in touch with us! Just pop your details into the contact form below. 

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