Small Business Resilience

Small Business Resilience in Trying Times

Resilience is the quality that was highlighted most during 2020 and will be the quality that conveys us forward into 2021. Below we share 7 resilience tips from Matt Levy, Inside Small Business.

1. Set manageable goals and targets

Setting manageable goals is not only about being realistic about what you want but also being able to extend yourself beyond your comfort zone. Don’t let the challenges bring you down, things can get better. As long as you have a purpose and believe in what you are doing and what your business can offer, focus on your goals no matter what.

2. Understand your tools for success

To be your own version of success, you need to create different tools to get there, whether this is by learning, acquiring, or creating. These tools allow you to triumph over tough times and learn how to be your very best in your business. When you identify a need for some extra work to smooth off your rough edges, you are putting yourself in a much better position to achieve what you want next time you have an opportunity. Once you know what tools you need, you’re one step closer to acquiring them and one step closer to achieving your goal.

3. Create your inner action plan

Continuous improvement is pivotal for business survival. Breaking down your goal into small actions will help you set a more thorough action plan to guide you towards achieving your long-term goal.

4. Create your inner circle

We learn from those around us to be better than we are. Create an inner circle of people that can lift you up higher than you are today. Place emphasis on getting the right team that will bring a positive and valuable impact to your business.

5. Engage your inner circle

Engaging with those around you is key to expanding your knowledge and skills to a higher level. It is through learning from each other that you and your team can keep improving and bring the business to reach new heights.

6. Strategise for success

Success is about having the inner belief that we can achieve the goals we have set in mind. It is through the experiences we gained that we learn the skillset and people we need to achieve success. The power of your mind is key to how you go about this. If you believe, you can achieve anything you set your mind to.

7. Stay focused

The final step is to stay focused on the path and vision for your business. It may seem challenging or even impossible at times, but it is by staying focused on your goal and having the mindset to believe in the process despite the challenges thrown at you that you demonstrate resilience.

Summary

It is ubiquitous for small businesses to resist change, whether it’s in the form of crisis or challenges. However, change is inevitable, and by cultivating the attribute of resilience, small businesses can learn how to grow and thrive beyond circumstances.

(Source: Inside Small Business January 2021)

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