Psychological Resilience: All Entrepreneurs Need It
What is psychological resilience?
Psychological resilience is the process of adapting well in the face of adversity, trauma, tragedy, stress — such as family and relationship problems, health problems or workplace and financial stressors. It means, ‘bouncing back’ from difficult experiences.
Being resilient does not mean that a person doesn't experience difficulty or distress. Emotional pain and sadness are common in people who have suffered major adversity or trauma in their lives. In fact, the road to resilience is likely to involve considerable emotional distress.
Resilience is not a trait that people either have or do not have. It involves behaviors, thoughts and actions that can be learned and developed in anyone.

Ways to develop psychological resilience:

  • Make connections and build a good network: Good relationships with friends and family or others are important. Accepting help and support from those who care about you and will listen to you strengthens resilience.
  • Join a business support group or get a mentor: This can make a huge difference in decision making and supporting you through adversity in business.
  • Avoid seeing crises as overwhelming problems: You can't change the fact that stressful events happen in business, but you can change how you interpret and respond to these events. Try looking beyond the present to how future circumstances may be a little better.
  • Accept that change is a part of business: Certain business goals may no longer be attainable as a result of adverse situations.
    Accepting circumstances that cannot be changed can help you focus on circumstances that you can alter.
  • Move toward your goals: Develop realistic business goals. Do something regularly that enables you to move toward your goals. The business model canvas
  • Take decisive actions: Act on adverse situations as much as you can. Take decisive actions, rather than detaching completely from problems and stresses and wishing they would just go away.
  • Nurture a positive view of yourself: Developing confidence in your ability to solve problems in your business: trusting your instincts helps build resilience.
  • Take care of yourself: Pay attention to your own needs and feelings. Exercise regularly. Taking care of yourself helps to keep your mind and body strong to deal with situations that require resilience.
  • Don’t forget to ‘Ask for help’: This is invaluable when building resilience in business
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