As a business management consultant, I’ve seen the highs and lows that come with building and growing a business. From the thrill of launching a successful service offering to the disappointment of a failed campaign, the entrepreneurial journey is a rollercoaster of emotions. However, one thing I’ve learned is that resilience is the key to not only surviving but thriving over time.
Resilience is the ability to bounce back from setbacks, adapt to change, and keep going in the face of adversity.
It’s like having armor that protects you from the inevitable challenges that come with running a business.
In fact, studies have shown that resilience is a critical factor in entrepreneurial success.
According to a report by the Global Entrepreneurship Monitor, entrepreneurs who are more resilient are more likely to succeed than those who are not.
So, how can you build resilience as an entrepreneur? Here are a few strategies that have helped me and my clients:
Develop a Growth Mindset
A growth mindset is a concept developed by psychologist Carol Dweck, which refers to the belief that one’s abilities and intelligence can be developed and improved over time through dedication, hard work, and learning.
Individuals with a growth mindset tend to see challenges as opportunities for growth, embrace failure as a stepping stone to success, and are more likely to persevere in the face of obstacles.
A growth mindset is particularly helpful when building resilience because it fundamentally changes how you perceive and respond to challenges and setbacks, which is essential as an entrepreneur.
Build a Strong Support Network
Research has shown that having mentors, advisors, and a network of fellow entrepreneurs can significantly impact your ability to overcome challenges.
Mentorship, in particular, has been identified as a powerful tool for building resilience.
A study published in the Journal of Business Venturing found that entrepreneurs who had mentors were more likely to exhibit behaviors associated with resilience, such as persistence and adaptability.
In addition to mentors, advisors and fellow entrepreneurs can also play a key role in a support network. Advisors provide specialized knowledge and expertise, while fellow entrepreneurs offer empathy, understanding, and camaraderie.
Together, these individuals form a support system that can help entrepreneurs weather inevitable ups and downs.
Stay Flexible
One of the most crucial ways to develop resilience is to practice adaptability.
Research shows that businesses that are able to adapt to change are more likely to succeed in the long run.
A great example is Sara Blakely, the founder of Spanx.
Blakely started Spanx in 2000 with a revolutionary idea: to create comfortable, slimming undergarments for women.
After successfully launching Spanx and achieving rapid growth, Blakely faced a new challenge when the market began shifting towards athleisure wear. Instead of sticking to her original product line, she expanded Spanx to include leggings, activewear, and other clothing items that aligned with the new trend.
This pivot proved to be highly successful, as Spanx became a leader in the shapewear and athleisure markets.
Blakely’s ability to adapt to changing market trends and pivot her business model is a testament to her resilience and entrepreneurial spirit.
By embracing change and staying flexible, you position your business for sustained growth and relevance as the market evolves and changes.
Celebrate Your Successes
Celebrate successes, no matter how small.
While it’s natural to dwell on failures, focus on achievements to help cultivate a positive mindset and strengthen your ability to bounce back from setbacks. This is also why a growth mindset is so important to adopt.
It boosts confidence, provides perspective, strengthens relationships, and fosters resilience.
The journey of entrepreneurship is fraught with challenges and obstacles, but it’s how we respond to these obstacles that truly defines our success.
By developing a growth mindset, building a strong support network, staying flexible, and celebrating our successes, we can build the resilience needed to weather any storm.
Micro-commitments are small, manageable actions taken consistently over time. They are the complete opposite of grand, one-off gestures, championing instead the steady drip of effort that can lead to an ocean of impact. This concept, while simple, taps into the deep psychology of how we form habits and the intrinsic human desire for consistency and achievement.
A principle as simple as making micro-commitments stands out for its profound ability to build lasting influence and authority.
I’ve championed this approach and seen it flourish at BLUE SAGE Consulting. It holds untapped potential for professionals and businesses alike.
The Psychology Behind Micro-Commitments
At its core, the psychology behind micro-commitments revolves around cognitive dissonance. This is the uncomfortable tension that arises when our actions don’t align with our beliefs and values or fail to follow through on our commitments—when things don’t “feel right.” Conversely, when we make and keep small commitments, especially publicly, we’re driven to maintain consistency with our stated intentions, thereby reducing cognitive dissonance and bolstering our self-perception and determination.
This drive for consistency is powerful and impactful for online and offline professional influence. Regular, committed actions, no matter how small, signal reliability and dedication—traits highly valued in any professional sphere. They also build momentum, turning the potentially mighty task of establishing an online presence into manageable, achievable steps.
Consistency in Content Creation
When it comes to building professional influence online, consistency in content creation is vital. Here, micro-commitments can be a game-changer. For example, publishing a post every Wednesday, sharing industry insights biweekly, or commenting on peers’ content daily are micro-commitments in action. They emphasize that you are engaged with others and involved in different conversations. Though small, these actions compound over time, enhancing your visibility and establishing your voice as a thought leader in your space.
This consistent engagement keeps you visible within your network and beyond, slowly expanding your influence. It also feeds the algorithms that govern our online world, increasing the likelihood that your content will be seen and shared, thus amplifying your reach. Remember, a steady drip of effort can lead to an ocean of impact.
Implementing Micro-Commitments in Your Business
So, how can businesses and professionals implement micro-commitments into their content creation and posting schedules? Here are a few practical strategies:
Start Small: The beauty of micro-commitments is that they are easy to manage without much effort. Choose actions that are achievable within your current resources and constraints. This could mean starting with one post weekly or dedicating 15 minutes daily to engaging with your network.
Be Specific: Vague goals breed inaction and can lead to frustration. Define your micro-commitments with as much specificity as possible. Instead of “post more often,” commit to “posting an industry-related article every Tuesday morning.”
Public Accountability: Announce your commitments publicly, or at least to a circle of peers or colleagues. This garners support and increases your accountability, leveraging the social pressure to follow through, which may be just the push you need.
Track and Reflect: Keep a log of your commitments and their outcomes. This not only measures your consistency but also helps you reflect on your strategy for better results.
Celebrate Small Wins: Acknowledge and celebrate each completed step. This positive reinforcement strengthens your commitment habit and keeps the momentum going, even when progress seems slow.
The Cumulative Impact of Micro-Commitments
The beauty of micro-commitments lies in their cumulative impact. Each small action builds upon the last, creating a tapestry of influence that, over time, can surpass even the most ambitious of initial goals. It’s a testament to the power of consistency, patience, and an incremental approach to achievement.
At BLUE SAGE Consulting, we’ve seen firsthand the transformative power of micro-commitments. From enhancing personal brands to launching new businesses, the principle remains the same: small, regular actions can and do lead to significant outcomes.
In the digital arena, where attention is fleeting and competition fierce, the ability to commit to and consistently execute a micro-commitment strategy can be your greatest asset. This method champions persistence, rewards patience, and ultimately leads to the building of an authentic and enduring professional influence.
So, as you navigate the complexities of the online professional world, remember the power of the small. In the realm of building influence and authority, micro-commitments can lead to the most monumental achievements.
The volunteer community is a membership organization’s heart and soul. Their contribution is priceless, and the organization couldn’t function without them. Not only do they make things happen behind the scenes, but they also express the values of the organization in their activities. Characteristics such as leadership, personal growth, gratitude, community, vision, honor, and respect are evident in their involvement.
The Power of Gratitude in Volunteer Contributions
While leaders who value contribution will give regardless of recognition, without acknowledgment, their energy, interest, and enthusiasm may wane over time. A simple act of gratitude fuels their internal drivers and affirms them as individuals and contributors, encouraging them personally and professionally.
Challenges in Keeping Recognition at the Forefront
Why is it so difficult to keep recognition at the forefront when organizations often depend on it? A couple of reasons come to mind. First, those who volunteer are motivated by personal satisfaction and a commitment to the organization and aren’t usually seeking acknowledgment. Second, in an organization like CMC-Global Institute, the leaders are also volunteers who contribute their time and expertise in addition to full-time work.
Creating and Reinforcing a Culture of Recognition
How can we create and reinforce a culture of recognition? Josh Bersin researched the topic of employee recognition and shared these best practices that apply in both workplace and non-profit scenarios:
Implement Peer-to-Peer Recognition: Not top-down.
Make Recognition Easy and Frequent: In Maslow’s hierarchy of needs, two of the most valuable psychological needs we have as human beings are the need to be appreciated and the need to “belong.” These needs are met through peer-to-peer thanks and recognition.
The study revealed that “Companies that scored in the top 20% for building a ‘recognition-rich culture’ actually had 31% lower voluntary turnover rates!”
Fostering a Culture of Recognition
What would a culture of recognition look like in your company? In any organization to which you belong? It starts with individuals, teams, and leaders noticing, inquiring, and being interested in the actions of others, and recognizing their achievements. A culture of recognition starts with an attitude of gratitude.
The Ripple Effects of Gratitude
An attitude of gratitude has ripple effects far beyond the impact on a company, a volunteer organization, or the individuals themselves. It can resonate within the culture and help to shape it into the future. Start today.
(Adapted from the original version that appeared in C2M Connect, January 2015 by Kathie Nelson and Pamela Campagna)
Every April, my hometown of Hopkinton, MA – the start of the Boston Marathon – turns into an athlete’s village when tens of thousands of runners and spectators descend on our streets to make their way along the 26.2 mile course into Boston.
In years past, we would make it a point to be out of town during “the race”, including in 2007. That was the year when Mike Olivieri (now Executive VP at American Business Journals) made an appeal to guests at a Boston Business Journal-sponsored breakfast, asking if any Hopkintonians in the audience would be willing to give shelter to a marathon team the morning of the race. A Nor’easter storm was threatening to hit that morning, and Mike and his team from AccesSportAmerica were hoping to stay dry up until the start of the race. Mike and his team camped out at our “safe house”, which was close to the starting line, and a tradition was born that continues today.
Over the years, our family has hosted runners from around the world during the morning of the Boston Marathon: first time runners, elite runners (who knew?) and family from the Chicago Running Club. This year was especially memorable as the first race following the Boston Marathon bombings. Runners from Ireland, the UK and five different states arrived hours before the race, conducting their personal rituals, sharing strategies for completing the race and getting ready for personal triumph.
This year’s Marathon has ended, and the last athletes have crossed the finish line, which makes me think about some lessons behind our town’s slogan – “It All Starts Here” – and how they might apply to the business world, including:
Preparation is key, and repetition leads to improvement. The town of Hopkinton has hosted this event for the past 90 years, and each year it seems to go off without a hitch. With heightened security this year, the preparation was a bit different. Nonetheless, the town returned to a sense of normalcy within hours after the last runner left the gate. My guess is that 90 years of “getting ready” for this race were critical in anticipating and preparing for the unexpected.
Common interests can be infectious. In her post “The Only Day People Know My Hometown”, Hopkintonian Shannon Motyka gives her perspective of how the Marathon has been a part of her life. Whether or not you’re a runner, it’s impossible to not get caught up in the spirit of the race and the sense of community that comes from a shared experience. Are there ways that you can encourage your customers and prospects to share common interests or discuss business topics? Are there common topics and specific business issues that you’re seeing in the market?
Never say never.This year, many who had hung up their running shoes came back to Hopkinton for the 118th running. Some runners began training last April following the bombings; others were determined to finish what they had started last year. A common theme that I heard is how different this year is from years past. Remembering that things change – whether it’s business conditions, personal training goals or a company’s overall success – can help keep an open mind.
It’s never too late to be what you might become. This year, we met Katherine Beiers – an 81-year-old runner from Santa Cruz who is #1 in her age group. Katherine began running at the age of 49, on her lunch hour. She explained to me that she doesn’t really like running, but she does looks forward to the rewards of a good run – being outside, increased energy and invigorated spirit. What an inspiration! Katherine’s approach is to look at the rewards of running – the outcome, and not the struggle of each mile. Whether you’re building an inbound business, launching a product or improving your company’s revenue model, think about the rewards, and remember that it’s never too late to try new things.
Have you learned any lessons from this year’s Boston Marathon? Are there other observations that might apply to the business world?
I recently hiked two 4,000-foot peaks in the White Mountains. This may not seem like a big deal to many – unless you’re afraid of heights like I am.
Regardless, I decided to join in on a trip to the White Mountains, thinking, “How difficult could this be”? I learned there’s a big difference between walking or running seven miles and hiking seven miles!
Call it blind faith or dumb luck, but we made it there and back – and learned a few things along the way.
Lesson 5: Celebrate Your Wins
When we reached the top of the first peak, a fellow hiker opened his backpack and cracked open a bottle of Moet champagne. Although he had been through these mountains many times before, he realized that for many of us, this was our first time. We raised a glass and celebrated our first victory as we moved cautiously downhill to the second peak.
Lesson 6: If you’re Not Prepared, Improvise
Ignorance is bliss, and traveling with experienced hikers is the way to go. In retrospect, I probably could have been more prepared for the “simple seven-mile hike in the White Mountains”, but we improvised along the way. My fleece jacket became a towel after a while (we were thoroughly drenched from start to finish). I borrowed two walking sticks from another hiker (he had brought an extra pair). The phrase “tree hugger” took on a new meaning as I grabbed every branch in sight and slid down a 45-foot incline.
Lesson 7: When in Doubt, Keep Going
Throughout the day, turning back never occurred to me; in retrospect, we only stopped twice. Some of my fellow hikers sometimes questioned daylight availability and argued about which paths to take. I was a bit nervous when the compasses came out, but we appeared to stay on course. There was a critical point where we might have retreated and called it a day – the point of no return, but we didn’t.
Lesson 8: Never Underestimate How Long Things Take
The guidebooks estimated that our trip should be completed (under normal conditions) in six hours, and it took us nine hours. When we started, we didn’t understand all the variables that would affect our progress: fog, rain, slippery terrain, eroded trails, and slower hikers. When we returned, our friends were about to contact the state police to report us missing. Would we do it again? Sure. And this time, we’re so much wiser!
Which of these lessons sound familiar to you? We’d like to hear what you think!
We originally posted this Healthy Business Checklist in 2008.
The checklist items are still valid over three years later, but there are a few significant adjustments…
1. Keep Your Plans Current
In 2008, we talked about taking a look at your sales funnel, and closely examining whether or not it needs adjustment.
Have customers put off purchasing until this year? Have any of your prospects indicated a significant shift in their business? What’s the current buyer behavior and has it changed? How/are you reaching your prospects and customers along the way? Are your sales, management and operations plans up to date?
The goal here is to settle on a planning method that works for you. It can be a formal mechanism (like a strategic planning initiative), or an approach to managing a particular piece of your business (like a faltering product line or an emerging new partnership). Need some thoughtstarters to get going? No matter the approach, take a fresh look.
2. A ‘We Rise And Fall Together’ Culture
In 2008, we wrote: “It’s often true that there’s safety in numbers, so encourage your team and the rest of the organization to look at positive, thoughtful ways to get handle the current economic climate. Engage the organization to work together with a team challenge, for example, to come up with five new ways to improve productivity.”
In this blog, Sam Fiorella of Sensei Marketing says, “My biggest wish for marketing in 2012 would be for marketers to have the courage to link the social media activities they are funded to deliver to the business’s bottom line: profit.”
With the widespread use and availability of social media business tools in 2012, you can’t help but find ways to improve productivity and work together toward a common goal.
3. Reach Out And Touch Someone
Shifts in global economic and business markets are often a great conversation starter. Over the past several weeks of this new year, I’ve received calls, emails, and tweets from vendors, clients, and clients who were “just checking in” to see how my business was running.
It’s always wise to keep communications open with prospects and clients in good times and in challenging ones. All it takes is a bit of discipline to get in the habit of checking in.
4. One Person’s Trash Is Another Person’s Treasure
I’ve often heard this saying regarding garage sales, which can also apply to your business.
Look for competitors who may abandon market segments where you can fill a need. Then, take another look at customers that may be underserved. Where in their lifecycle are your products and services? Can you reposition your products or services in a new or different way to appeal to a new/similar/extended audience?
5. Leading Change = Leading By Example
In 2008, we used examples from an interview with Fred Hassan, former CEO of Shering-Plough, about transforming an organization and leading by example – a year before Shering-Plough was merged with Merck & Co.
Today, lots of the same leadership qualities still hold true – and leading change means leading by example. Mike Myatt states it nicely: leadership is pursuit.
“Smart leaders understand it’s not just enough to pursue, but pursuit must be intentional, focused, consistent, aggressive, and unyielding.”
Mike Myatt
Now is a good time to lead change in your organization that can have a long-lasting impact.
