Article offers advice to entrepreneurs on developing psychological resistance

Psychological resilience is a key personal resource and competitive advantage for entrepreneurs.

Like building muscle, building psychological resilience takes time, effort, and the right technique, says management professor Kyle Brykman.

He and co-authors describe five ways entrepreneurs can become more psychologically resilient in an article published Wednesday in the Conversation, which shares news and views from the academic and research community.

1. Cultivate a growth- or learning-orientated mindset. Adopting a healthy mindset about adversity can change how you respond to inevitable bumps in the road.
2. Proactively learn from others. Invest time in reading about how other entrepreneurs overcame adversity while launching and accelerating a business.
3. Develop strong social support networks. Social support is critical to overcoming adversity. Find people and organizations you can lean on.
4. Focus on your core strengths and capabilities to achieve success. Passion is the fuel that keeps entrepreneurs motivated and committed to learning, despite obstacles.
5. Participate in local entrepreneurship programs. Essential resources, including specific knowledge and industry connections, can help you bounce back when adversity strikes.

“Even if you weren’t born with an inherent ability to weather every storm that comes your way, you can still learn to become more mentally tough and adaptable,” the authors advise.

Read the entire piece in the Conversation.

Courtesy: https://www.uwindsor.ca/dailynews/2022-05-26/article-offers-advice-entrepreneurs-developing-psychological-resilience