Let’s be honest – being in business is absolutely not for everyone. There are many daily challenges that are presented in being in business which is quite different from working in a job (where your boss deals with most issues). Anything from customer service, financials, marketing, taxation, outsourcing and managing staff and I could go on. Most of this is controlled externally when you work in a job so not everyone is able to that have that little trait called resilience to support them through. So what is resilience and how do you get it?
Firstly, resilience means the capacity to recover quickly from difficulties – having toughness. In the business context, it means being able to adapt quickly to disruptions whilst maintaining continuous operation. How very relevant this is in the world right now! Many traditional store front style businesses have gone under this year owing to the Covid restrictions and lockdowns and we are seeing many who also lost their jobs pivoting into new business ventures. It’s certainly changing times and we absolutely need to have the ability to bounce back after misfortune. It’s part and parcel of being an entrepreneur. But how does one do this and do it successfully and consistently?
Firstly, you need to ensure that you have workflows that will survive irrespective of the current economic or health climate. Or indeed any climate. Do you have tools, staff, products that are shielded from external events? For instance, you want to ensure you have a CRM that can withstand a rainy day as opposed to one that hasn’t been around for long and will fall over with the first Wall Street correction. If you have products that will only be relevant during good times, then I would seriously reconsider your company. Your products need to be needed whatever the current economic climate. Also think about things such as phone systems, internet providers, your mobile phone and computer. Are you regularly maintaining these tools to ensure seamless operation?
Secondly, do you have systems that will withstand a cyber attack for instance? If you use WordPress, there’s Wordfence and other programs that can safeguard you. Whatever you are using – whether they are your own or your company’s infrastructure – you need to ensure everything is protected in case of an attack. It’s called risk assessment and it’s not a question of “if” you will be attacked but “when”.
Thirdly, if you are with a company that has a high end pay structure, do you have processes in place that prevent your bank and/or PayPal holding your funds for extended periods of time? Owing to new international fraud, drugs, arms and money laundering laws, you need to mitigate the risk of losing all of your income for months’ at a time.
Fourthly, are you bringing new people into your team every single month to replace those that will invariably quit. If not, your business will lose momentum and your income will drop. Ensuring you are regularly replacing those team members you are losing safeguards and protects your income.
Lastly and most importantly, you need to work harder on yourself than you do on your business. I know, it sounds cliché and I used to hate hearing it being said to me over and over and over again. But it’s true and I have learned. I do my 2 hours’ in the morning, 15 minutes’ at lunchtime and an hour before bedtime. I protect that time as it is feeding my mind and when I do that, it performs at its best. Much as feeding your body with the right fuel will do the same. Never underestimate the power of a positive, empowered individual to navigate through what some may look at as problems easily and effortlessly. I see so many people stress and complain about such minor trivial stuff that the rest of us just find a way around and keep going. But it’s only through working hard on oneself that brings about that level of ‘resilience’.
Hope this has given you a starting point on really looking hard at your business and seeing whereby you can bolster your protection protocols so you are able to navigate any potential disruptions that may come your way. And they will – I promise you that. But as with anything in life, it is never what happens to us, but how we deal with it that matters. Be not just the entrepreneur of your business but of your entire life. You are either the victim or the victor – which one are you?