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From rejection and adversity to self-doubt, entrepreneurs will inevitably encounter many challenges as they work to build a thriving business. Fortunately, there are effective strategies new business owners can leverage to help them navigate the rough patches and stay motivated to achieve their goals.
Without preparing for unexpected setbacks and downturns, a new entrepreneur may struggle to maintain the focus and confidence they need to succeed. Here, 12 Young Entrepreneur Council members share their best advice for persevering through the difficulties that come along with entrepreneurship, offering tips to help entrepreneurs stay the course and find lasting success.
1. Connect With Aspiring Entrepreneurs Online
You’re not the only one constantly facing rejection while trying to make it there. There are many others like you who are striving to achieve their goals. And sometimes, all you need is a little push from positive people around you to make it through. So, interacting with like-minded people who walk the same path and sharing your experiences can help. - Stephanie Wells, Formidable Forms
2. Learn From Rejection
If you look at any of the wealthiest business owners in the world, they all faced rejection, adversity and doubts throughout their careers. Despite these setbacks, they still managed to find success. The lesson here is that you can’t avoid rejection. The best thing you can do is accept feedback (both negative and positive!) and work toward understanding the difference between fair criticism and noise. - Daman Jeet Singh, FunnelKit
3. Let Adversity Motivate You Internally
I found a mentor who recommended books that fired my dreams and helped me understand internal motivation. When you are open to adversity and rejection as means of motivation, you can be internally motivated to succeed. External motivation increases negative emotions that arise from rejection. When you are internally motivated, you feel worthy and are better equipped to handle perceived rejection. - Matthew Capala, Alphametic
4. Take Care Of Yourself
Running a business can be stressful and demanding, so it’s important to take care of yourself physically, mentally and emotionally. Make time for exercise, relaxation and hobbies that bring you joy. Find hobbies and experiences that alleviate stress and increase joy. By taking care of yourself, you’ll be better equipped to handle the challenges of entrepreneurship. - Eddie Lou, CodaPet
5. Surround Yourself With The Right People
Make sure you keep your circle small and made up of individuals who are making plans, making moves and pursuing a growth mindset. It’s also important to seek out a mentor. Find someone who understands your industry really well or has been a part of it for years. Their experiences, failures, successes and insights will prove to be invaluable on your journey. - Blair Thomas, eMerchantBroker
6. Keep Your Opportunity Pipeline Full
Failure, rejection and adversity represent the cost of entry when starting and running a business. It’s critically important to stay focused on the activity that keeps your opportunity pipeline full. A full pipeline of revenue opportunities makes rejection and failure a whole lot easier while at the same time strengthening the mental muscle required to be able to perform at the highest level. - Drew Gurley, Redbird Advisors
7. Find A Mentor
If you want to succeed, find a mentor. Right now, a business owner can face a lot of rejection, adversity and doubts on their journey. There are many lessons to be learned from a mentor when going through these challenging times. - Kristin Kimberly Marquet, Marquet Media, LLC
8. Ask For Help And Support
Remember what got you started and look at the big picture to rekindle your passion. Talk to other experienced entrepreneurs who have been in your shoes to find innovative solutions to your challenges. Conversing with knowledgeable and experienced people always helped me when I felt down and out during my business’s growth stage, and there’s no shame in asking for a little help where you need it! - Vikas Agrawal, Infobrandz
9. Look For The Lesson In Failure
First of all, you have to acknowledge that you’re going to feel some kind of disappointment when faced with rejection or failure. No one starts a business or launches a product intending to fail. However, I find that the most important thing in such cases is to look for the lesson. There’s always something to be learned that I can apply to my next effort, whether it’s in the product or the messaging. - Kalin Kassabov, ProTexting
10. Stay Focused On Your ‘Why’
Stay focused on your goals and the “why” behind your business. Remind yourself of why you started your business in the first place and keep that motivation alive. Remember that you have the power to take charge of your own destiny and make it happen. Surround yourself with people who will support and encourage you, and don’t forget to practice self-care. - Rachel Beider, PRESS Modern Massage
11. Cherish Small Victories
Starting my first business, I faced countless rejections for over a year and was barely generating enough revenue to get by. Doubts crept in as I heard “no” echoed repeatedly, and I began to question everything. Yet, it was the rare “yes” that fueled my perseverance. Remember to cherish small victories and amplify the strategies that secure them, paving the way for substantial success. - Frank B. Mengert, ebm
12. Focus On Your Customers
Block out the noise and focus on your customers. If you are delivering a product or service that the market has a real need for, you’ll have some early-adopter customers. Leverage them, pay special attention to them and continue to provide value to them. If you can grow your customer set, you are on your way to having a successful business. Nothing else really matters. - David Boehl, TravelSite.io
