[Part 3] 3 Keys To Business Success: Resilience

Build resilience so you can take on any challenge that comes your way

“I wouldn’t be where I am now if I didn’t fail … a lot. The good, the bad, it’s all part of the success equation.” – Mark Cuban

In this three-part series, we’re taking a deep-dive into the three keys to business success: discipline, mindset, and resilience. In the past weeks, we’ve talked about the importance of building discipline and developing a business owner mindset. In our last edition of this series, we’re going to talk about resilience.

Every successful business person knows what it feels like to fail. They also know the value of failure. Your ability to bounce back from failure, big and small, is the measure of your resilience. You need a bounty of resilience to make business ownership work.

Nobody gets it right 100% of the time. Nobody coasts their way to success. But every new business owner seems to need to learn that lesson the hard way.

Build up your resilience so you can get back up each time the world knocks you down. Resilience pushes you forward when your first customer suddenly cancels on you. Or when the prospect you’ve carefully nurtured for months goes to your competitor. Each day will bring a new challenge. Each month or quarter a new punch to the gut. Resilience will keep you coming back for more.

10 Ways to Build Resilience

According to the American Psychological Association, these are ten ways you can build up your resilience.

  1. Create good relationships with friends and family: Having a “tribe” to connect with outside of work helps keep your day-to-day frustrations and anxieties in perspective.
  2. Avoid seeing crises as insurmountable: All challenges can be overcome, through time, discipline, and hard work.
  3. Accept change: The old saying, “the only constant is change” is cliché, but true. Don’t let yourself become overwhelmed by change, it’s inevitable.
  4. Create goals and move toward them: Having goals to work toward gives you a greater sense of purpose and motivation that helps you overcome challenges.
  5. Take decisive actions: There are times when a decision needs to be made and action is taken to move forward. Maybe you don’t have all the answers, but you can’t let yourself get stuck.
  6. Look for opportunities of self-discovery: We’re all a work in progress and self-discovery is one of the most beautiful aspects of being alive. You’ll be more capable of bouncing back from setbacks when you have a clear sense of who you are and what you want.
  7. Nurture a positive view of yourself: You believe the things you say about yourself. Remove the negative self-talk and encourage positivity in your thoughts and actions toward yourself.
  8. Keep things in perspective: When you’re up against a really tough challenge or experiencing a setback, it’s difficult to see the forest for the trees. Keep your experiences in perspective of your goals and always remind yourself how lucky you are in your place in the world. Remind yourself: people have done a whole lot more with a whole lot less.
  9. Maintain a hopeful outlook: Optimism can sometimes get a bad reputation. But being hopeful about your future and your goals will help motivate you through the ups and downs of business ownership.
  10. Take care of yourself: When you feel better physically, it’s easier for you to feel better mentally. This makes is much easier to build resilience and bounce back from setbacks.

A Pattern of Business Success

Looking at all three keys to business success: discipline, mindset, and resilience, are you noticing a pattern They are all about what goes on between your ears.

Business owners, particularly new ones, often find all kinds of reasons why things are not working out the way they’d planned. It’s the competition, or the economy, or the product, or some other external reason. But every successful entrepreneur knows that all external factors can be overcome with discipline, the right mindset, and resilience.

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