Food For Thought: Resilience is a muscle. Here's how to build it.

Welcome back to #FoodForThought, a newsletter serving up food for your brain — exploring news headlines, economic trends and workforce issues. Below, you’ll find insights from small business show #TogetherInBusiness. Hit subscribe above to be notified of future editions and share your thoughts in the comments.

Resilience is a muscle, writes designer Rebecca Minkoff: "The more you fall, the easier it is to get back up. Your recovery and bounce back period decrease every time."

Last week, we asked small business owners to share what resilience means to them. 

They flocked to this post to share tales of innovation, strength and facing hardship, including this comment from Pretto International Services founder Giovani Pretto:

“Resilience for a business owner is like the situation for a surfer holding on to his surfboard when a huge wave breaks right on his head. Resilience is that feeling that the situation will pass. He will, eventually, surface and pass through the next set of waves and get the wave of his life.” 

There’s no question that the coronavirus crisis has been tumultuous for businesses and workers globally, particularly for small businesses in Victoria who face stage 4 lockdown restrictions. But research by GoDaddy has revealed the fighting spirit of Aussies, with 60% of Australian small business owners saying they’re happiest conquering a business challenge.

Can you build resilience in crisis times? When the going gets tough, how do the tough keep on going?

This week on #TogetherInBusinesss, OzHarvest founder and CEO Ronni Kahn AO, leadership expert and founder of the Performance Code Kylee Stone, and GoDaddy Head of Marketing Suzanne Mitchell joined me to discuss resilience. Together, we covered:

• How to harness your resilience during tough times.
• Building resilient teams through strong leadership.
• How Australia’s small businesses are showcasing their fighting spirit and hitting business milestones.
• How to give and get help during crisis times.

Watch: Together In Business in full above

Latest conversations

All Melbourne retail stores, with the exception of those considered essential, will be forced to close for the duration of the lockdown, Premier Daniel Andrews announced Monday. 

Victorian workers who retain their job but expend all of their sick leave will receive a $1,500 payment from the federal government to remain at home for two weeks “if they are at risk of having contracted the coronavirus”.

A Domino’s promotion offering free pizza for “great” people named Karen has been pulled in New Zealand after the pizza chain was flooded with complaints. 

Farmers are warning fruit and vegetable prices may be driven up by a lack of foreign fruit pickers.

When it comes to self-sufficiency, Australia's manufacturing sector has been ranked the worst among developed countries.

Resources for your business:

• How Treasury is supporting small businesses.
• Income support for sole traders
• The Australian Small Business and Family Enterprise Ombudsman My Business Health portal.
• Information, grants and assistance state-by-state.
• COSBOA COVID-19 small business quick links.
• The Australian Chamber of Commerce and Industry's employer help guide.

Spotlight on: Together In Business

We know times are tough for small businesses, particularly in light of new lockdown restrictions in Victoria.

That's why we launched the #TogetherInBusiness initiative back in April. To build community and lend support to those who need it during crisis times.

More than 90,000 of you have tuned in to watch guests including RedBalloon founder Naomi Simson, Small Business Ombudsman Kate Carnell, COSBOA chief Peter Strong, ANZ CEO Shayne Elliott and entrepreneur Mark Bouris, as well as a whole host of small business owners and professionals share their insights and answer your questions. 

We’re taking a small break to prepare a stellar TIB Cycle 4 for you. But we need you. What are the topics we are yet to cover? What are the challenges your small business is facing? Who are the guests you’d like to hear from? Share your thoughts, queries and questions in the comments below.

In the meantime, why not catch up on all learnings shared this season?

Who Gives A Crap CEO Simon Griffiths, PwC Partner - Social Impact Rosalie Wilkie and inventor Professor Veena Sahajwalla answer your questions on sustainability.

ANZ CEO Shayne Elliott, Stone & Chalk's Cheryl Mack and entrepreneur Rami Ykmour discuss beating financial stress.

Entrepreneur Mark Bouris AM, communications expert and founder of Aus Indigenous Fashion Yatu Widders Hunt and co-founder of hospitality tech platform Mark Calabro talk entrepreneurship.

Something for you

Each week, I try and end on something to make you smile and think:

• While the coronavirus pandemic has thrown some people's careers into turmoil, others have time on their hands and a desire to give back. 
• Our meetings, to-do lists and deadlines may make us feel like we have no time to stop and think about where we are going. Here’s how to make time for reflection. 
• In a productivity-focused work culture, creative and artistic pursuits can fall by the wayside. Experts have these tips for getting those creative juices flowing. 

Additional reporting by: Cayla Dengate, Andrew Murfett, Scott Olster, Yunita Ong, Capucine Yeomans

(Photo credits: Getty Images)