The ability to bounce back from setbacks or disappointments is a key attribute of entrepreneurial success.
Entrepreneurship is a journey of highs and lows. Setbacks are unavoidable, which is why growing a business requires a resilient mindset.
Everything is unpredictable. If you aren't prepared to navigate the bumpy terrain of the business landscape, you will fail. End of story. The only difference between success and failure comes down to who is willing to keep going, no matter what.
In the words of Lynda Berry, “Expect the unexpected, and whenever possible, be the unexpected.” Are you ready to learn how you can bounce back from life's knockdowns?
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In the world of an entrepreneur, back to back challenges feel like the norm.
It's fair to say that entrepreneurship is not the easiest path that you can take in life. So much so that many people avoid this world at all costs because of the risks involved and the overwhelming amount of hard work, dedication, sacrifice, and patience are required. However, for those who have succeeded in becoming an entrepreneur, there is one thing that they have mastered, and that is the ability to bounce back. To put it simply, these people are resilient.
In his best-selling book, The Resiliency Advantage: Master Change, Thrive Under Pressure, and Bounce Back from Setbacks, the late Al Siebert, Ph.D., writes that “Highly resilient people are flexible, adapt to new circumstances quickly, and thrive in constant change.” Resilient people always see the silver lining, even in the worst of circumstances. This allows them to bounce back from anything.
Anybody can learn how to be resilient. It's not something that you are born with. However, in order to successfully bounce back from setbacks, I encourage you to practice these 10 resilience-based traits, relentlessly.
1. Be Comfortable With Uncertainty
Uncertainty has become the new norm. However, it is still something that a lot of entrepreneurs struggle with. Sure, its easier to know what is coming, at all times, but that's not how life or business works.
Resilient entrepreneurs know about uncertainty. Not only are they comfortable with it, but they thrive through it. If you are an entrepreneur, you know what I mean when I say that every day presents a new unanswered question that we need to work through. This could be in the form of developing a new marketing strategy, landing new clients, or figuring out how to beat the competition.
With so many unknowns to manage, how do we maintain sanity and still achieve success? It starts with reflecting upon the strategies and tools that you have pulled upon in the past to get you through the tides of change. Oftentimes, it's not a change that is hard. Rather, it's our perception of and resistance to it that causes us challenges. As self-inquiry author Byron Katie says, “When I argue with reality, I lose—but only 100% of the time!”
The fact of the matter is that we don't have control over the external world or other people – the market could change, our clients could decide to stop buying our products or services, or the economy could collapse. The only thing that we have control over is our inner world, so learn how to master it and you will be winning.
2. Be Proactive
Being proactive is all about learning how to maintain control in a crazy world. Instead of reacting to situations, resilient entrepreneurs respond to them in a calm and collective manner. Not only does this allow them to master their emotions, but it also ensures that they get more accomplished.
Have you ever tried to do anything productive when you are in a reactive state? It's near impossible. If you want to be a proactive entrepreneur, you need to solve problems the moment that they arise. If you can't, you need to find someone who can help you.
If you dwell and ruminate, you will flounder. It comes down to taking massive action and then moving onto the next task at hand. Learn how you can incorporate proactive habits into your business on a daily basis. Over time, you will notice that not only will you feel less stressed, you will get more done. It's a win-win.
3. Embrace Failure
Resilient people don't allow failure to veer them off course. Rather, they see it as a good thing. Failure provides them with new opportunities to innovate. Seems counterintuitive, doesn't it? It's not. They have mastered the art of failing towards success.
All of the most successful people in this world have failed. In many ways, their success was due, in part, to their ability to thrive through resilience. If you don't believe me, look at the stories of entrepreneurs like Steve Jobs or Elon Musk. Despite all odds, they persevered and went on to become two of the most respected and influential leaders of our time.
In the words of Theodore Roosevelt: “The credit belongs to the man who is actually in the arena; whose face is marred with dust and sweat; who strives valiantly, who errs and may fall again and again because there is no effort without error or shortcoming.”
4. Be Resourceful
Technology has given us the freedom to be resourceful. If you don't know the answer to something, a computer will give tell you, almost immediately. However, despite this luxury, a lot of people struggle to find solutions to their problems. This is one of the many reasons why many startups don't get past a business plan.
Resourceful entrepreneurs live with an abundance mindset. They see opportunities everywhere, which allows them to be one step ahead of the game at all times. The ability to innovate makes them come alive inside, which is why they are always looking for the most effective strategy that will allow them to achieve their business goals.
In their eyes, there are no problems, only solutions. In the words of Paul Graham, “Relentlessly resourceful…I think this is the best short description we'll find of what makes a good startup founder. I doubt it could be made more precise.”
5. Take Care Of Yourself
When you are building your business, it can feel like you need to work 24/7 in order to make progress. As a result, a lot of entrepreneurs forget to take care of themselves. They end up burning themselves into the ground.
This is why it is so important to show up for yourself, in the form of exercise, meditation, reading, or journaling. Anything that grounds you and allows your mind to rest is a bonus. The cost of not doing so is going to bite you in the long-run. In the business world, time is money. As an entrepreneur, I can't risk getting sick because it means that I will lose money and potential clients.
I get it, you're busy. Who isn't? However, there is a reason why the most successful entrepreneurs in the world practice morning rituals. Harvard biologist Christoph Randler found that early risers were more likely to be proactive in setting long-range goals, anticipating and minimizing problems, and generally making things happen.
I attribute my resilient mindset to my commitment to a morning ritual that I've been practicing since I was 17 years old. It is the one thing that allows me to be in an optimal mental, emotional, and physical state so that I am ready to handle whatever setbacks or obstacles get thrown my way. I encourage you to invest in self-care as much as you invest in your business.
6. Maintain Optimism
When things don't go our way, it's easy to get down and play the “why me” card. This is why resilient entrepreneurs pump up their positivity every single day. In the context of your business, how do you think this helps?
Adopting a positive mindset and maintaining those high vibes have allowed me to add consistent value to my audience, has gotten me more sales, and has ensured that my team is happy and productive. How is this possible? Like attracts like. Happy people like happy people. They feed off of this positive energy.
Optimistic entrepreneurs always expect the best outcome. They don't dwell on the negative because they know it doesn't get them anywhere. Adopting this mindset gives them the capacity to find the silver lining in each failure so that they continue to move forward in their businesses.
7. Possess A Growth Mindset
People with a growth mindset believe that their intelligence can be developed through hard work, which is why they possess a passionate love of learning. This line of thinking is supported by Carol Dweck's work. Her research found that when students had a growth mindset, they responded with constructive thoughts and their behaviors showed persistence rather than defeat.
To become resilient, you must be open to growing and evolving, both as an entrepreneur and as an individual. As you meet new challenges in your business (which will happen on a daily basis), I encourage you to view them from a new perspective. Adopting flexible thinking patterns will allow you to see roadblocks as signposts for success.
8. Create A Support Network
Many entrepreneurs get stuck in a zone of thinking that they have to do everything on their own. Trust me when I say that this is impossible. I've tried it. Moreover, there is a stigma that if they reach out for help it must mean that they are weak. This is so far from true.
Resilient people know that their successes aren't the result of a one-man show. This is why they develop strong relationships with others. Rather than fight battles on their own, they have a support system in place when adversity strikes.
They seek out the support of colleagues, friends and family members who they can bounce ideas off of or just vent to when life and work get overwhelming. More importantly, they also provide support to others, but not at the expense of self.
9. Develop Unshakeable Confidence
When it comes to entrepreneurship, self-confidence plays a huge role in one's success. If you don't believe that you can do something then you won't do it. It's that simple.
In the business world, having confidence means knowing your value and being able to effectively communicate that value to clients in a way that positions them for success.
Resilient people have an unwavering belief in themselves and their abilities. They don't question whether or not they are going to succeed because they are confident with the knowledge that they possess and aren't afraid to admit their weaknesses. They walk and talk with energy that says, “I'm here to stay.”
Manikant Jain, Founder & CEO Yerha.com says that “Self-confidence is your biggest weapon and tool when it comes to entrepreneurship or a startup. Wear it proudly!” Confidence isn't something that you are born with. Rather, it's a habit that needs to be developed. If you don't feel confident right away, trick your brain and fake it until you do!
10. Flex Your Resilience Muscle
None of the above skills will matter if you don't practice flexing your resilience muscle. The next time that shit hits the fan in your business, don't curl in a ball and give up. Be the best that you can be and remember that you are capable of handling anything that is thrown your way. It all comes down to your mindset.
The resilient entrepreneur knows how to bounce back whe life knocks them down.
Life and business will continue to change and move at an ever-rapid pace. With it will come challenges that may test the very foundation of your business, if you allow them to. In my opinion, you cannot survive as an entrepreneur without resilience. However, if you develop the above traits, I believe that you can thrive through any challenge.
Entrepreneurial success isn't so much about how many challenges you face. Rather, it's about how you step up to the plate and face those challenges when they arise. Change is the only constant, so make sure that you build your business model around it. In the words of Robert H. Schuller, “Tough times never last, but tough people do.”
We all have the ability to master the art of bouncing back. Although our setbacks may hurt, they don't have to define us. Are you ready to show life who is boss?
Are you ready to learn how you can master your online business? CLICK HERE to join my Online Business Mastery Accelerator program!
Do you want to learn 3 habits that you can practice in order to build your mindset muscle? CLICK HERE to read the article that I wrote on Medium!
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