How To Cultivate Entrepreneurial Resilience “The Supportedly Way”
June 8, 2018
Do you find the journey of entrepreneurship daunting, overwhelming and stressful? You’re not alone! In fact, the majority of business owners find themselves “in the weeds” at times. The good news is that there’s lots of free and low-cost qualified help out there. Helping you find that help is what Supportedly.com is all about.
To give you some immediate relief, the Supportedly team put together the following 12 tips to help you gain strength, increase your confidence and ultimately succeed. Learn to cultivate entrepreneurial resilience, the Supportedly way!
- Admit you need help. This is an important first step, because nothing will change until you acknowledge that you’ve hit a wall in one or more of the following ways: you’re overwhelmed, overworked, disillusioned, out of money, having conflicts within your team, having a crisis of confidence, encountering problems with your launch, confused about next steps, unsure about the viability of your product or service, etc.
- Be teachable. This, too, is one of the quickest ways you can increase your business’s strength and sustainability. Despite having some degree of expertise, there is always more to learn to help you improve. Acknowledging that can allow you to find the programs you need to resolve whatever issues may be causing problems or stalling forward movement.
- Engage with your community. There is no excuse for not getting help. According to CBInsights, one of the top reasons businesses fail is that that they didn’t properly utilize their network. By our estimates, there are over 2,000 free or low-cost programs out there for entrepreneurs in North Carolina alone. Engaging with these providers will not only give you some immediate relief, but it will also help you find the tools and solutions (funding, too!) you need to make your business a success.
- Take an action, no matter how small. Running a business can be overwhelming because there are lots of moving parts. To manage those parts requires having a team in place or hiring outside resources. Beyond that, it is important to take large projects and break them down into small, manageable steps. Working with a mentor or coach can help tremendously with this process.
- Use your time wisely. Rather than spend your time searching on the internet for advice or resources, you can head over to the Supportedly website and find what you need in one place. Once you determine what type of help you need, with a couple of clicks you can find the name, description and contact info for a provider that can help you right away. This frees up your time for the rest of your to-do list.
- Own your fear. Let’s admit it: owning a business is not for the faint of heart. It requires big, bold leaps that can, at times, be terrifying. The good news is that you don’t have to take these leaps alone. There’s lots of great support out there to walk with you through the most intimidating parts. Plus, fear often shows up when we don’t have enough information. Luckily, information and support are only a few quick clicks away.
- Use the power of momentum. Getting started takes a lot more energy that keeping things moving. Establishing a new habit is more difficult that maintaining one. This applies to every aspect of life, including business. Rather than let things completely stall out, recognize quickly when things aren’t working or are headed in the wrong direction, and then seek out programs that can help you correct your course or even pivot, if necessary. The key is to not give up just because you encounter bumps in the road or obstacles along the way.
- If one resource doesn’t work, try another one. Finding the right resource for your business may happen with the first connection you make. But sometimes, the program just isn’t a good fit for your business or you didn’t receive all the support you expected. Perhaps you are clearer now about what you need. With that clarity, you can now seek out a provider that “gets” what you’re doing and has the tools and guidance you need to move forward.
- Be honest with yourself. Are you passionate about your mission? Are you working with a team that shares your values? Do you have enough capital? Are you tuned into the needs of your target market? Are you confident in the feasibility of your product or service? These and more questions can be explored with mentors, coaches, advisors, business classes, potential investors, etc. Honest answers help you build a stronger foundation for your business.
- Embrace change and respond accordingly. Business planning gives you a map that shows you where you intend to go. However, plans must be dynamic and respond to the changes that you encounter as you get to know more about your business and your market. The response to change is sometimes to pivot, but pivoting in the wrong direction can lead to failure. Sometimes what’s needed instead are some adjustments to a product or service or the way in which they are delivered or marketed. Seeking feedback from experts can help you navigate such changes.
- Never lose your focus. Many business fail because their attention is scattered and pulled in too many directions, sometime due to personal issues, having too many competing ideas or simply not being clear on the mission and purpose of the business. Becoming clear on your focus and aligning with your mission will help you set guideposts that easily track your progress to let you know you’re moving in the right direction.
- Be patient and persistent. How committed are you to the success of your business? Are you all in? Are you doing a “wait and see”? Is your passion high or only lukewarm? There is a vast difference between the fantasy of running a business and the reality. The attraction is typically based on the idea of doing something one enjoys and having freedom to manage one’s time. However, if you end up spending over 80 hours a week working on your business, you may find yourself thinking it’s the worst job and the worst boss (you) that you’ve ever had. Work-life balance will obviously prevent burnout, but patience to see things through even through the not-so-glamorous parts of running a business will contribute greatly to your success.
With support, you can be well on your way to becoming a resilient, successful entrepreneur. We appreciate the opportunity to play a role, no matter how small, in making your journey more enjoyable. Don’t hesitate to reach out if there is anything we can do to help.
After reading this post, ask yourself, in what areas do you or your business need support?