Starting a business is like running an obstacle course — full of jumps, traps and other roadblocks that you must find your way around and can stifle your forward momentum. It’s not a road for the faint of heart! Of course, many entrepreneurs have run the obstacle course and succeeded, and you can too.
Today, challenges for entrepreneurs include the impact of artificial intelligence, inflation, an accelerated rate of change and economic instability. But no matter the specific issues you face, one trait serves as a common denominator among successful entrepreneurs: resilience.
Entrepreneurs must be equipped to take setbacks in stride, get back up, and try again. In a SAS poll, 97% of executives indicated they believe resiliency is very or somewhat important, and 87% said it helps them prepare for unforeseen events. Yet only 25% felt they were leading a highly resilient organization.
Many believe that resilience is an innate trait — some people have a lot, and others have less. And yes, in my experience, this is true to a degree. But just like some of us are natural athletes or more naturally attuned to music, one’s innate capacity for resilience is not one’s destiny or limitation! There is a great deal that you can do to nurture and hone your resilience, and coaching is a proven way to support your efforts.
1. Persist, persist, persist
While most of us can come up with brilliant ideas at some point in our lives, an idea is really only as brilliant as its execution. Far fewer of us have the persistence to bring an idea to life in a way that can inspire others to get on board. It might take too long, be too risky or too hard. Or this is what we tell ourselves.
If you catch your inner voice telling you these things, consider it an opportunity. The more you put yourself through the motions of recognizing those feelings and then pushing forward anyway, the more you normalize resilient behavior.
Focus on the next small steps you can take to work toward your goals. This is how entrepreneurs turn adversity into triumphs. A leadership coach can help you with strategies to manage stress and setbacks, as well as help you think about lessons learned, resources available to you and new approaches you can try. Learn, don’t resign.
Related: Why Lifelong Learning is the Key to Entrepreneurial Success
2. Reframe challenges
A study by Paul Nutt of Ohio State University examined 350 decision-making processes at medium to large companies and found that more than half failed. Why? Because they didn’t take the time to look at other angles or ways of doing something.
Reframing a challenge involves turning a negative into a positive. This growth mindset is critical to developing resilience.
Leadership coaching is powerful in broadening perspectives and encouraging alternative approaches. When faced with a challenge, embrace it as a valuable teacher. Instead of asking why this is happening, ask: What can I learn from this? Use challenges to improve problem-solving and emotional intelligence and to springboard growth and self-awareness.
3. Stay curious about yourself
Understanding your leadership style, preferences and values will not only allow you to better align your actions with your vision and mission but also build the resilience needed to adapt and thrive in challenging situations. Self-awareness enhances your ability to recognize and respond to the needs, expectations and feedback of your team, customers and stakeholders.
If things aren’t working and you need to reframe your approach, being self-aware empowers you to take control, pivot effectively and bounce back from setbacks with greater confidence and clarity.
How do you deal with stress or adversity? How do you handle challenges, and how can your team support you? One of the most frequently quoted benefits of coaching is gaining greater self-awareness. It can help you develop a robust set of skills to face challenges with more confidence.
Related: Are You a Leader Loyal to Your Values? Here’s How to Align Your Leadership Style With Your Values
4. Don’t “power through” alone
One of the great secrets of resilience is that most of us are not powering through on our own. Whether you are a coach, a friend or a peer in your field, having a sounding board and cheerleader who believes in you and can serve as a safe space to vent and troubleshoot can make a world of difference.
Your support network can and should change with time as your business grows, and your needs transform.
Building resilience to a brighter future
As you grow your business and your strength as an entrepreneur, the obstacles — and opportunities — in the road ahead will change, too — but one thing is for certain: The challenges are not going to stop coming. Developing your resilience is one of the most impactful steps you can take to equip yourself for the journey today, tomorrow and in the years ahead.
Resilient you stay, being true to your values and your vision. Guided by them and supported by your networks. And then…. the sky is the limit!
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