New studies show that resilience -- “the ability to withstand and quickly overcome adversity” -- is one of the most important factors in predicting the success or failure of a business.
Freelancers who expect that starting their own business will be easy are quickly proved wrong. Even if it goes well in the beginning, chances are you’re going to hit a dry spell. Your level of resilience is key!
According to research published recently by JC Ayala, resilience is composed of three distinct characteristics:
1. Hardiness: Personal competence, high standards, and tenacity. Entrepreneurs who placed high in this category responded positively to statements like:
- Under pressure, I focus and think clearly
- When things look hopeless, I don’t give up
- I like challenges
- I think of myself as a strong person
2. Resourcefulness: An entrepreneur who possesses the skills to handle adverse situations. Entrepreneurs who placed high in this category responded positively to statements like:
- I know where to turn to for help
- I feel in control of my life
- I have close and secure relationships
3. Optimism: Resilient entrepreneurs are optimistic, “work to improve a situation beyond simply doing what is expected, and know how to control their unpleasant feelings,” the researchers explain. Entrepreneurs who placed high in this category responded positively to statements like:
- I can handle unpleasant feelings
- I see the humorous side of things
- I have to act on a hunch
Freelancers, which of these statements do you agree with? Did you bounce back from a hardship?