Entrepreneurship is often glamorised and the harsh realities of uncertainty, financial instability and constant setbacks are often swept under the carpet.
As a result, many founders dive into their new ventures without thinking about the role that mental toughness plays in entrepreneurship and their likely success.
In this article, we look at all you can do to increase mental toughness.
Here goes…
Understanding Mental Toughness
Before we look at strategies to help improve mental toughness, we need to look at what mental toughness actually is.
Dr. Jim Loehr, a renowned performance psychologist, defines mental toughness as the ability to consistently perform at a high level despite difficulties, pressures, and distractions.
Mental toughness is often associated with resilience, emotional intelligence and the ability to handle stress effectively.
Mental Toughness Strategies
Reframe Failure as a Learning Experience
This one is huge. Many fear and shy away from failure but failure is a necessary aspect of achieving goals.
Those who avoid failure never take enough risks and actions to become truly successful.
Instead of fearing failure, view it as an opportunity for learning. Rather than sweeping the failure under the carpet analyse what went wrong and apply new insights to future situations.
Develop a Growth Mindset
Entrepreneurs who are successful believe that they should always be learning. The term ‘Growth Mindset’, coined by psychologist Carol Dweck sets the belief that abilities and intelligence can be improved through effort and learning.
Having a ‘know it all’ attitude is the opposite of a growth mindset. Entrepreneurs should aim to make time to learn new skills and understand different points of view.
Doing the following things can ensure you cultivate a growth mindset:
Embrace challenges.
Persist through setbacks. Do not give up easily.
Put in the effort. Do not view effort as not worthwhile.
Learn from criticism. Don’t ignore it.
Learn from other’s success. Do not feel threatened and discouraged by the success of others.
Practice Self-Care and Stress Management
Being mentally tough does not mean you should ignore the stresses and strains of life and become an emotionless robot.
We are all human and as humans, our bodies require certain things to function optimally.
Regular exercise, meditation and adequate sleep play a vital role in managing stress. Taking up creative activities such as painting, drawing or learning to play an instrument can also help reduce stress.
As an entrepreneur working hard is essential but ensure you take adequate breaks to refresh and recuperate from the grind.
Have a Strong Support System
Entrepreneurship can be a lonely journey. Ensure you set yourself up with like-minded peers to provide valuable guidance and emotional support.
Aim to build better networks by attending events and joining groups in person.
Don’t be afraid to outsource support to qualified individuals who can often help when friends, family and peers do not have the adequate skills to cope with your particular circumstances.
Set Clear Goals and Stay Committed
The importance of setting goals cannot be underestimated. The goals you set should be clear and most importantly be realistic and acheivable.
Setting impossible ‘pie in the sky’ goals and targets will only lead to disappointment and discouragement.
See your goals as small incremental steps to your final destination.
Your goals should be both short-term and long-term. Avoid setting only short-term goals that may not take into account the bigger picture.
Also, simply setting long-term goals may lead to missing essential steps to achieve the long-term vision you desire.
Embrace Discomfort and Challenge Yourself
Growth often occurs outside of our comfort zone. What this means is there will be some form of discomfort when you are growing.
For example; you win a big contract but now you need to deliver the project within thirty days to get paid. The next thirty days should be spent knuckling down to deliver on time.
Yes, you have won the contract but the real growth only occurs once you have done the hard work and have delivered.
Aim to rise to the challenge of delivering outside of your comfort zone.
If you fail, evaluate the situation, learn from the experience, re-apply and try again.
Final thoughts
Mental toughness is not just a desirable trait but is a necessity.
The ability to withstand setbacks, manage stress and persist through not only the ups and downs of business but personal life is fundamental.
This skill set, is very often not appreciated and often not talked about in entrepreneurial circles, but the good thing is mental toughness can be learned.
With intentional effort, mindset shifts and strategic thinking, entrepreneurs can give themselves the necessary tools to equip themselves for the ups and downs of business and personal life.
Good luck!
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