Life and business both have their ups and downs. As the COVID-19 pandemic continues to keep many businesses shuttered and continues to wreak havoc on the economy, many business owners are finding themselves up against previously unforeseen challenges. Your emotional resilience influences how you respond to those challenges, both on a personal and professional level. While some people might be naturally very resilient, others can work on building it so that they can successfully weather any storms that come their way.
As you steer your business through the pandemic, here’s what you can do to strengthen your resilience so that you can cope with stress and difficulties more effectively.
What Is Resilience?
People who are resilient are able to adapt successfully when faced with stress, trauma, or adversity. A person with resilience can bounce back when their plans are disrupted or when challenges come up. Part of being resilient is looking toward the future, rather than dwelling on the past or on things that cannot be changed.
Resilient people often have a growth mindset, meaning they see failures and mistakes as chances to improve rather than as signs that they are not good enough. Usually, people with resilience focus on situations that they have some control over and are able to let go of situations that they cannot control.
Take Action to Build Resilience
While you couldn’t have done anything to prevent coronavirus from changing the world the way it did, you can do something to control how your company responds to the pandemic and the changes it has brought with it. Being proactive in the face of challenges is a key component of developing resilience. Focus on what you can do to adapt to the new situation. An example might be shifting much of a retail business to online sales if restrictions have limited the number of people who can shop in person. Another option is for a restaurant that previously only served in-house meals to start offering take-out.
Part of taking action can be setting goals for your business. Ask yourself what you would like to get out of the current situation, then make a plan to help your company reach the goal.
Increase Resiliency by Focusing on Wellness
Right now, many people, from business owners to employees, are under a lot of stress and that stress is taking a toll on them physically and mentally. Your overall well-being is something you do have some control over. Focusing on improving your health and wellness can help to increase your resiliency. Boosting wellness usually involves creating a few rules to follow. For example, give yourself a bedtime and a waking up time each day so that you get enough sleep. Research has shown that getting enough sleep, seven or eight hours each night, is a critical component of well-being. When you are sleep deprived, it is not only difficult to concentrate, it also becomes difficult to roll with the changes and adapt.
Starting an exercise routine can also help improve your overall wellness and resiliency. It doesn’t have to be particularly challenging or physically strenuous exercise to benefit you. Something as simple as scheduling a 30-minute walk each day can help you feel better and adapt to change and stress with ease.
Connect With Others
Stressful times can be the ideal times for forging new social connections and building new relationships. You want to connect with people who understand what you are going through and who might be able to provide advice and assistance to help your business get through.
Along with finding people who can help you, focus on ways you can help others. You might start a volunteer program at your company to give back to your local community, for example. Now can be a great time to examine your company’s mission and to find ways to put that mission into practice.
Remember That Things Will Get Better
People who lack resiliency tend to be “glass half empty” types. They don’t see how things can improve or their outlook for the future is dim. Painting a bright version of the future, one in which your business has pulled through, can help you adapt and grow, even when times are challenging.
If your company is facing challenges due to the pandemic or general business ups and downs, New Direction Capital is here to help. We will work with you to develop a plan for growth. Contact us today to learn more.