While they might not show it, entrepreneurs often ride a mental rollercoaster of daily ups and downs. Because a positive demeanor is so essential to their success, business owners typically try to keep their emotions in check and negative mindsets at bay.
However, constantly working to keep up appearances as pressures mount can create overwhelming inner turmoil. If entrepreneurs aren’t able to bounce back quickly and regain their composure and focus, it could end up causing harm to their business.
The key is to learn how to swiftly recover from the inevitable pressures and setbacks of entrepreneurship. To help, 13 experts from Forbes Coaches Council explored the best ways to build mental and emotional resilience so that owners can stay focused on the bigger picture and strategic business goals.
Forbes Coaches Council members discuss ways for entrepreneurs to build mental and emotional resilience.
Photos courtesy of the individual members.1. Don’t Ignore Self-Care
Self-care is very important for an entrepreneur. Self-care is about initiating regular activities that promote positive mental, financial, emotional, social, physical, practical and spiritual health. Get a hobby. Meditate. Spend time with friends and family. Stay organized. Have a routine. Budget and manage your money. Eat well and stay active. Lastly, seek spirituality. - John Knotts, Crosscutter Enterprises
2. Create A Personal Picture Of Success
Start by creating a personal picture of success: the ideal mindset and behaviors you want to demonstrate while leading your business during ups and downs. Practice acknowledging mini-successes and progress. Develop “proactive recovery plans” for times when plans don’t work, and prepare for how you will pivot. Put together a team who supports you and your vision, gives you straight feedback and offers solutions. - Mark Samuel, IMPAQ Corporation
3. Focus On These Three Things
In my experience, three things can make a big difference. First of all, remember your big “why” so that anything else will seem small in comparison. Then, develop strategic patience fueled by faith and a learning mindset. And finally, don’t attach your happiness to your entrepreneurial project. Happiness is available all around you. - Frederic Funck, Center for Creative Leadership
4. Understand Risk Mitigation
Having been involved in four startup companies at the executive level, and having put myself on the brink of bankruptcy as a serial entrepreneur, I can say that the key is understanding risk mitigation. Most coaches discuss business risk, but there is a bigger risk mitigation equation that drives me: If I wasn’t doing this, the bigger risk is to my soul. My solution was to review the poem “Invictus” every day. - Todd Zaugg, Matrix Achievement Group
Forbes Coaches Council is an invitation-only community for leading business and career coaches. Do I qualify?
5. Think Through What Can Go Wrong
Think through what can and will go wrong with each strategy. Ask yourself what might be on the other side of the mountain once you reach the top. If you don’t prepare, then you can’t always adjust. This builds resilience in you and your team. - Shelley Smith, Premier Rapport
6. Talk To Customers Frequently
Remembering the “why” behind your business and staying associated with the “who” will give you the courage, clarity, confidence and commitment to keep your head straight. Get an indoor cycling bike or treadmill, and jump on that daily to get out of your head and into your body. Sweating is the best detox for your brain and body. - Mike Koenigs, The Superpower Accelerator
7. Always Look For The Lesson
Whether it’s a “high” or a “low” on the entrepreneurial journey, there is always the potential to learn. To build resilience, look for the lesson. Check in with yourself. How do you feel about the high or the low? What went well? What didn’t go so well? What are you learning about yourself? What’s the very next thing you need to do? Or what would you change? Doing this supports self-compassion. - Frances McIntosh, Intentional Coaching LLC
8. Create Space For Short Breaks
This goes for everyone, but especially entrepreneurs: Create space in your day for short breaks to disengage from the “tyranny of the urgent.” By taking time to press pause, you are building mental fitness, preparing yourself for whatever may come your way next and preventing yourself from being overwhelmed by the next “urgent” thing. - Billy Williams, Archegos
9. Schedule Downtime
Include downtime in your schedule. Find out what helps you unwind so that you can clear your mind. Whether it’s yoga, tennis, art, music, Zumba, Brazilian jiu-jitsu, painting or some other activity, having an outlet or something to focus on other than work will help you recharge your mental and emotional state. Once you have decluttered your mind, you will be ready to tackle the growth of your business and serve your customers! - Kevin Kan, Break Out Consulting Asia
10. Optimize Your Energy Levels
Energy optimization is crucial during the startup and growth phases of a business, and each stage requires different levels of energy, which may surprise entrepreneurs to find out. Create that space to rebalance your energy and focus on the right thoughts and tasks that need to happen during the day. Doing this for ten minutes, twice a day, is more than sufficient to keep your outlook refreshed and your focus on your goals. - Arthi Rabikrisson, Prerna Advisory
11. Create A Board Of Advisors
Create a board of advisors who will take an active role by holding you accountable and assisting you in creating stability. Emotional stability promotes business stability, especially when it is your own business. Your business also becomes the clients you serve. You may be perceived as good now, but what if something bad happens? You need a support team close to you so that you can stay productive. - John M. O’Connor, Career Pro Inc.
12. Get A Mentor Or Find A Support Network
Get a mentor or find a network of entrepreneurs who you can share frustrations with, bounce ideas off, ask questions of and get advice from. The reality is, family and friends don’t understand what you’re going through, and they’re not going to give you the guidance you need to cope with the stresses of starting and growing a business. Being able to talk to someone who’s done it is massively powerful. - Allan Dib, Successwise
