Working in a startup can be exciting, rewarding, and challenging. But it can also be stressful, uncertain, and demanding. How can you cope with the ups and downs of the entrepreneurial journey and bounce back from setbacks and failures? How can you build resilience in a startup?
Resilience is the ability to adapt to change, overcome difficulties, and recover from adversity. It is not a fixed trait that you either have or don't have. It is a skill that you can develop and improve through practice and experience. Resilience can help you deal with the pressures and risks of working in a startup, as well as the opportunities and rewards.
Resilience simply is the ability to see situations as information and progress towards your broader goals. Everything is one step closer, even if it seems like a step back.
In a start-up, the ability to pivot quickly and without complaint is absolutely necessary. Start-ups can "start" with one idea and shift quickly based on the B2C/B2B response to the product offering or market. Start-ups that are resilient can be very successful and really takes the right kind of mentality - Not everyone will thrive at a start-up because the corporate structure is not there. You have to learn to have a entrepreneurial mentality.
As a startup founder or employee, resilience can be a great asset. It can help you maintain a positive attitude, even in the face of setbacks. You can use mistakes and failures as feedback and motivation to improve. Resilience can also help you manage stress and emotions, so that you don't become overwhelmed or exhausted. You can persist and persevere, embracing uncertainty and ambiguity as sources of creativity and innovation. Furthermore, resilience can help you collaborate and communicate effectively to build strong relationships with your team, partners, and customers.
"A good half of the art of living is resilience." - Alain de Botton. As resilience is becoming one of the most essential abilities in today's market, embracing the good and the bad is worth noting. If we were to experience only highs, we wouldn't have had the opportunity to learn other ways that often turn out for the better. Those detours and setbacks often lead to improved and more innovative ways of doing. As much as we sometimes resist what's uncomfortable, embracing the challenge and resilience as our approach pays off - it's often when the tide turns.
Resilience is the "ok, now what" mentality. It's priceless. The caring and effort is invested in the present and future instead of the past. It gives you, the startup founder power, instead of the things you can't control.
Building resilience in a startup can be achieved by setting realistic and attainable goals, breaking them down into smaller and actionable steps, and celebrating your achievements. It is also important to seek feedback and support, cultivate a growth mindset, and practice self-care. Additionally, finding meaning and purpose in your work can help you connect it to your values and passions. All of these strategies can help you build resilience in a startup.
Resilience is cultivated by one thing: Belief in yourself and what you are working towards. Knowing something will happen, prevents a situation that seems to negatively impact that fact from becoming a belief.
Resilience can be built in multiple ways. Resilience training gives employees various strategies to tackle changes and challenges, empowering them to positively react and move forward. The more changes and challenges faced by employees and the more they are able to practice what they’ve learned, the quicker the reaction time. For this reason, it’s recommended for employees to be encouraged to continuously grow and do new tasks. This helps them get out of their comfort zone, organically building resilience. This practice can prepare them for unexpected events.
Building contingencies - The "What ifs" and the understanding of calculated risks. This allows a start-up to pivot quickly and ready itself for a dip and strategize the recovery.
You can also learn from the examples of other successful entrepreneurs who have demonstrated resilience in their startups. For example, Airbnb overcame the 2008 financial crisis, multiple rejections from investors, and a near-death experience to become a global leader in the travel industry. Netflix shifted from a DVD rental service to a streaming platform and then to a content producer, despite competition from giants like Blockbuster, Amazon, and Disney. Spanx founder Sara Blakely started her business with $5,000, sold her product door-to-door, and faced sexism and skepticism to become the youngest self-made female billionaire in the US. Shopify founder Tobias Lütke learned to code and built his own e-commerce platform, which he was able to scale to serve millions of merchants worldwide.
When searching for a job if you are implementing the strategies we discuss in our coaching programs, you will get a job. It doesn't matter what happens inbetween now and then. That's just information. The same goes from leadership training. You will improve, everything else is just stuff.
Building resilience in a startup is no small feat; it requires dedication, practice, and reflection, as well as confronting fears, doubts, and insecurities. Along the way, you may face challenges like feeling isolated and lonely, or experiencing imposter syndrome. Criticism and rejection can be hard to deal with, as well as conflicts and disagreements. Stress and anxiety can also take a toll on your mental health. However, with perseverance and self-care, you can develop the resilience needed to overcome these obstacles.
To build resilience in a startup, it is important to seek guidance from a mentor or coach, connect with other entrepreneurs and peers, celebrate successes and losses, and accept feedback as an opportunity to grow. Additionally, managing expectations and practicing gratitude are essential for overcoming the challenges of starting a business. Sharing stories and lessons can help to stay motivated and appreciate the progress that has been made.
A positive supportive community is important, and so is what media you consume. Want to become resilient? Listen, read, learn things that help reinforce the belief in yourself and what you are working on.