Screw it, let’s… Uhhh… Wait a while

Great entrepreneurs know that the bad stuff is just around the corner

The myth is that successful entrepreneurs are risk takers; they spot an opportunity at the horizon and jump in, immediately, boots and all. Books such as “Screw it, let’s do it” by Richard Branson perpetuate the myth. But nothing could be further from the truth. Entrepreneurs, successful ones that is, avoid risk like the plague. After more than 30 years in and around business, it’s clear to me that successful entrepreneurs practice three things:

1. They minimise the risk of the bad stuff happening
2. They prepare for when it does
3. They are resilient when it does

Being a business owner is not for the faint hearted. The highs and the lows of business can follow each other in quick succession. I often think the journey of business. Getting a business off the ground is like a journey out past the horizon of an unexplored ocean, and I have yet to meet a business owner for whom it’s been smooth sailing. Sometimes we’ll receive favourable winds and sometimes we suddenly find ourselves in the midst of an unexpected storm.

I believe you could divide the entrepreneurs of the world in two camps: Those who’ve had a significant setback and those who are about to have one. And so it follows: entrepreneurs who have achieved a measure of success, have bounced back at least once after facing setbacks, and hence successful entrepreneurs are resilient people.

The two principles of resilience

There are two principles of resilience that are characterised by the following two quotes:

• Andrew Zolli, author of the book “Resilience”: Anything could happen, that is why resilient entrepreneurs are optimistic realists.
• Psychologist Edith Grotberg: Resilience can be cultivated just like any other skill; It’s an art that can be mastered with practice.

Accepting that anything could happen, good stuff as well as bad stuff, doesn’t make one a pessimist. There is a big difference between being a pessimist, an optimist, and an optimistic realist. Pessimists will imagine the worst and not be able to see a positive way out. Optimists believe that that the sun will shine forever. Optimistic realists on the other hand, acknowledge that bad stuff will likely come their way. They simply accept that it is part of the adventure, but they back themselves to be able to manage their way out.

Nervous Nellies

Great small business owners are generally ‘Nervous Nellies’ with active imaginations. But that doesn’t make them pessimists, far from it. They’re constantly on the lookout for what may go wrong and they plan for those eventualities. They ask themselves: If XYZ were to happen, how could I respond to minimise the impact of it? And they trust themselves to be able to get out from under the hammer when it falls. (More about planning here).

I cannot stress enough how important it is in business to look all possibilities in the eye. Positive thinkers, personal and business development gurus alike, often beseech us not to visualise the bad stuff in life. Instead, they say, we must focus on the positive things we want to manifest and we’re assured that because of the universal “Law of Attraction” and our “Abundance Mindset”, it will all fall into place, and if not, we’ve somehow not thought positively enough.

Positive Thinking is Nonsense

Believe me: Positive Thinking is nonsense. Instead, accept that the bad stuff will hit you at some point, as it undoubtedly will, plan for it, learn to trust yourself that you’ll have what it takes to weather the storm, remind yourself that the storm is not caused by an intrinsic shortcoming in your personality and finally, take the quote from Ms Grotberg above to heart.

Why I like Edith Grotberg’s quote so much is that it reminds me that we can all become more resilient. If resilience were a character trait that only special people like Steve Jobs, Larry Page and Warren Buffet are born with, there is no hope for the rest of us. But just like we can learn to manage our anger better, become more assertive, or teach ourselves to become better listeners, we can also learn to become more resilient.

These are some of the steps that will lead to improving your resilience over time:

First of all, it’s really important to understand that Resilience is not about being unaffected by the storms; Resilience is About How You Recharge, Not How You Endure. You will be knocked sideways when the bad stuff happens. That’s ok, what matters is what you do next. Ms Grotberg suggests three statements to repeat to yourself often:

• I Have: strong relationships, community and structures; these are external supports I can rely on.
• I Am: a person who has hope and faith, cares about others, is capable and proud of myself; these are inner strengths that I can develop.
• I Can: communicate, solve problems, gauge the temperament of others, seek good relationships; all interpersonal and problem-solving skills that I have acquired.

These statements are what are often referred to in various psychology disciplines, as a “Reframe”. While simply reading them here won’t turn you into a resilient rock overnight, they are powerful nevertheless. I suggest printing those three statements out and hanging them above your desk and read them out to yourself regularly. If you do, you will slowly start to strengthen your optimistic realism and change your self-belief, especially when combined with a focus on self-compassion. (more about self-compassion and kindness in business here).

Optimistic realism, reminding yourself of the “I Have, I Am, I Can” statements combined with practicing Kindness to yourself will mean you’ll recover from the bad stuff quickly, and continue to build a Great Small Business… I promise you.

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