6 Perseverance Lessons for Every Entrepreneur

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Seasoned entrepreneurs know the power of perseverance. It’s just that not everyone practices it consistently.

Fortunately, perseverance is not an innate skill or one that can only be learned in childhood. Everyone has the potential to achieve a “perseverance mindset” and equip themselves with the tools to achieve it.

Whether you’re bummed out by a recent business setback or just looking to build your resilience in uncertain times, these six lessons will help you cope and overcome. any challenge your business trip brings

1. Seek honest feedback from people you trust

Doubt is the archenemy of perseverance. But sometimes the doubt is justified, a sign that you may be taking your business down the wrong path. Seasoned founders know it’s important to acknowledge that little voice and ask if it’s right.

This is actually a sign of boldness and decision, says Colin Hodge, founder of the popular dating app, BELOW. Hodge initially experienced some doubts about his startup’s ability to gain enough users and investment, so he advises entrepreneurs to “boldly ask the hard questions about the viability of your startup.”

This will lead entrepreneurs to seek external advice from trusted experts to gain an unfiltered view of their business situation.

This kind of vulnerability later led Hodge to a conversation with entrepreneurs from other start-ups that was “refreshingly honest, funny and raw.” Ideally, a trusted outside advocate won’t be so afraid of giving you tough love (or bad news) because they care about his success, not so much about his feelings. It can be hard to listen at times, but your business will be stronger for it, and you’ll be a better business owner in the long run.

2. Set ambitious but manageable goals

Another enemy of perseverance is overwhelm. All entrepreneurs are pulled in multiple directions at once, but the great ones prioritize and balance these competing forces in the service of longer-term goals.

Set goals that you will achieve, that you can achieve — is the key here. According to experts At Eastern Washington University, the best goals are:

• A mix of short and long term, but always with well-defined deadlines
• Goals that motivate you to achieve them
• Flexible, so you can adjust as needed
• Annotated and posted somewhere you can see (like on your office wall, a digital calendar or productivity tool, or anywhere else that makes sense)

In addition, achievable goals are “SMART”:

• Specific and meaningful goal statements include “who, what, when, where, why, and how.”
• Measurable, which means you can objectively demonstrate that the objective has been met
• Achievable, which means they are reasonable to achieve on your own (or as part of a team) with hard work
• Relevant, which means they align with your long-term goals
• Time-based, which means they have a set “expiration date”

SMART goals can be ambitious, but as you can see, they also need to be realizable. And you should reward yourself for reaching them or hitting milestones along the way.

3. Have a five-year plan

Related to goal setting, perseverance requires long-term strategic thinking. Since it can take years to build a stable and successful business, this is especially important for entrepreneurs.

That’s why many rely on comprehensive, long-term plans that set out the company’s overall mission and goals, along with tactical instructions for achieving them. Five years is a good plan length, but you can opt for a shorter or longer time horizon if you prefer. What’s most important is establishing a comprehensive but workable plan that you can take ownership of.

4. Break complicated projects into smaller tasks that you can do all at once

Life has a tendency to get in the way. Even the SMARTEST goals and most comprehensive long-term plans can fail when there are too many demands on your (or your team’s) time and attention.

The solution is to break longer or more complicated projects into smaller tasks that you can do in one session. This sounds like Productivity 101, but many entrepreneurs find it hard to follow amid all the chaos that comes with building and running a business.

Incorporate these “task plans” into your goal statements and hold yourself accountable for achieving them. And give yourself smaller rewards when you successfully complete them.

5. Embrace uncertainty

Global economic uncertainty is affecting industries as diverse as construction and cyber security right now. Some say the macro challenges facing entrepreneurs are unprecedented, but let’s be honest: uncertainty and instability are facts of life. Successful entrepreneurs recognize uncertainty and persevere through it.

In fact, they do more than acknowledge uncertainty. They hug him. They recognize that a certain amount of chaos is inevitable in life and business. They build this recognition into their business plans, goals, and daily work. While not ideal, there’s no way around it – the only way is through.

6. Hire people who want to be there

Successful entrepreneurs do not persevere alone. Sheer willpower gets you far until you no longer do, and that tipping point often comes earlier in the growth cycle than first-time leaders expect.

The solution is to hire people who believe in what you’re building and see their work as more than just another job.

“People are looking for purpose in their lives, and that includes work,” he says. Gartner Analyst Jordan Turner. “The more an employer limits those things that create this sense of purpose, the less likely employees are to stay in their jobs.”

It’s not enough to hire employees with positive attitudes and a willingness to take on more responsibilities. They may be nice and ambitious, but that doesn’t mean they care as much about what you’re building as it does about you. You need to find people who share your passion and get their participation for what follows.

Whats Next?

You are building something that you hope will outlast you, or at least your leadership role. And that will take years, if not decades. You will run into many potholes (and worse) along the way.

The question you must ask yourself is: How will I react to these challenges? Will I raise my hands or will I go ahead and persevere?

These guidelines will help you do the latter. But it is his responsibility to move on.

The charge 6 Perseverance Lessons for Every Entrepreneur first appeared in Calendar.