How to be Resilient in Business

byjamessigey

172 followers

4 years ago

Business is demanding and it doesn’t always go as planned. Whether your business fails or takes off, you must be resilient enough to bounce back and keep moving forward. In this article, we’ll cover what it means to be resilient in business and how you can do it better next time, even when things go awry.

Every successful business fails

According to Fast Company, The Federal Bureau of Investigation estimates that a business fails every 30 seconds and overall it’s estimated that almost 70% of businesses fail within their first year. The more resilient you are, the greater your chances for survival. Here are some simple ways for you to become a bit more resilient.

You need support

It's ok to ask for help. You are an entrepreneur, not a super hero; you cannot do everything yourself. Figure out what you need and then reach out and get it. When I started my company I was used to working with a team; suddenly I found myself alone. I didn't know how to go about finding a support team that was right for me but with some time, effort and patience I did manage to find support networks that helped me along my entrepreneurial journey.

You are resilient if you adapt

If a situation presents an obstacle that you are not used to, don’t freak out. Instead of stressing about it, take some time and think about what you can do to overcome it. Don’t let one obstacle deter you from your goals—adapt to change!

Only when you bounce back from failure, will you succeed

Everyone knows that hard work and perseverance are important qualities of successful people. However, that is only part of the equation. The truth is that sometimes you will fail, even if you try your best not to do so. This can be very discouraging; it may lead some people to give up entirely or accept failure as a permanent condition in their lives. No one enjoys admitting defeat or enduring failure; however, instead of wallowing in self-pity, use your bad situation as an opportunity for learning and improvement.

The way you handle failure determines your success

As a business owner, you should embrace failure. Why? Because when you embrace failure, you become more resilient. The more resilient you are, the easier it is for your mind and body to bounce back from small failures and remain focused on your goals.

Failure is an option.

No matter how much we plan and prepare, all businesses experience failure. Every entrepreneur experiences moments when they realize that things aren’t working out as they’d hoped, or when they realize that a business idea just isn’t viable. These tough moments are part of every startup journey. The good news is that entrepreneurs have options during these difficult times—the most important of which is resilience. By staying resilient during challenging situations, entrepreneurs can not only recover from failures but also become stronger for them.

Embrace resilience for growth.

If you want your business to succeed, learn how to build resilience and embrace it for growth. If you want your company or venture to thrive, then you need people who are resilient. Without resilience in your organization, there is a high probability that your business will fail. By embracing resilience from within, you can actually enhance employee engagement across all levels of an organization.