These are definitely unprecedented times for the vast majority of us, I suspect only equaled during previous world-wide catastrophes and world wars that occurred several decades ago. Particularly for entrepreneurs, it can be a tough and mentally exhausting period as you strive to keep the business afloat, ensure employees and customers are safe and maintain the confidence and morale of all stakeholders.
I reread a great blog on perseverance strategies told through the experiences of seasoned entrepreneurs. The high points outlined are:
- Take the punches.
- Mimic success.
- Lead confidently and think big.
- Influence your outcome.
- If entrepreneurship was easy, everyone would do it.
These are totally relevant in today’s world, and I resonated with them as I thought about my own experiences in multiple startups, and in particular, as the CEO of a startup that we founded just before the Global Financial Crisis of 2007/2008. In my book, “Fair Dinkum Business”, I reserved the last chapter to discuss perseverance using the Aussie saying, “No worries mate, she’ll be right!” I had to take many punches from multiple stakeholders, do the “fake it until you make it” dance, think laterally when we ran into roadblocks, and do everything I could to ensure we had a successful outcome.
In the current situation, I believe even more is required if an entrepreneur, their company and all stakeholders are to survive and maybe come through stronger than before. I was introduced to this Tiny Survival Guide from the Trauma Stewardship Institute by my wife, who is a clinical social worker. I wasn’t aware of it as I battled through my own issues as a startup CEO, but I was unknowingly incorporating some of the suggestions into my daily routine, including the following:
- Protect your mornings – I find this to be a great time for reflection and meditation, looking at the joys or successes recently experienced and looking forward to what you plan to accomplish in the coming days.
- Nurture gratitude – the morning meditation was also a time for me to express my gratitude for the positive influences in my life and to reaffirm my belief in maintaining a positive attitude.
- Cultivate relationships – these are extremely important in trying times and including as many healthy mentors as you can find can be particularly helpful.
- Be Active – some of my best thinking and plans of action came when I was mindfully active – hiking, biking, paddle boarding etc. For some reason, these activities that combine effort and concentration, open my mind to new possibilities.
- Foster humility and extend grace – I use the Aussie saying, “Don’t have tickets on yourself”, to discuss this in my book. I firmly believe humble, servant leadership is key to delivering long-term value in any company.
- Simplify – times like these can be overwhelming, and it can be easy to over-think everything that is wrong with the world. I believe it’s necessary to narrow our thinking to what is important, relevant to our business success or immediate community well-being, and that we can influence or control. Everything else is just noise.
- Be realistic and compassionate – I address this in the book under “Look out for your mates”. Be present, listen to others, protect your colleagues and employees, enable their success, and ensure they are realistically rewarded.
- Finally, laugh – humor lifts spirits, builds morale, helps us to stay positive and to remember that no matter how bad the situation seems now, everything will be alright in the end. No worries mate!