In a recession, business conditions are difficult. Your competitors are cutting their fees, and many of your customers are questioning the value you are bringing to their business. To survive this downturn, you need to be resilient and bounce back, time and time again.

But how do you become resilient? Are you born with it? Can you blame your parents if you don’t have it? Or is it something you develop as time goes by?

Here are my top 8 tips on how to build your resilience:

1. Look on the bright side

If you are looking for the positive to come out of a setback or negative event, you will find something positive. And if you don’t believe me, believe the scientists: positive emotions have been found to disrupt the experience of stress and help highly resilient people recover efficiently from daily stress (Fredrickson et al., 2003).[1].

2. Develop your problem solving skills

Interestingly, if you’re prepared to find a solution or workaround, you’ll probably find a solution. But to do this, then you need to develop your problem solving skills. In reality, this means being open to the possibility and prepared to challenge the assumptions you’re making. Ask yourself questions like ‘who could you involve?’, ‘if it were easy, what would you do next?’

3. Accept that you have run into a setback

I have worked with many clients after finding out they are at risk of being fired. Surprisingly, some of them are still working in the same role, doing the same thing as if nothing had happened. It’s an interesting first couple of training sessions! To successfully recover, you must first accept that there is a problem or setback. Recovery can only begin once you have moved from denial to acceptance. Speaking (or writing) publicly about your situation is part of the process of accepting what is happening to you.

4. Talk to family and friends

Family and friends are great for inspiring you to dust yourself off and start anew. I recommend that you build a support network around you, that believes in you, even when you doubt yourself.

5. Sleep in it

Late at night, things can always seem worse than they really are. A good night’s sleep can give you both the energy to start over, but it can also help your subconscious identify the right path based on your personal situation.

6. Remember the good times

Inevitably, business development in a recession is a bit of a roller coaster. Hold on to memories of the good times—they will help sustain you when the going gets tough.

7. Work with a mentor or coach

A mentor or coach will help you see the positive side of the cloud, as well as help you formulate plans and strategies to get back on track.

8. Believe in yourself

Having positive self-esteem and pockets of self-confidence will be an important factor in helping you recover from ‘the slingshots and arrows of outrageous fortune’. If you tell yourself what you are good at once a day, this will help you improve your self-esteem. [It sounds simple, but ask one of my recent coaching clients, it really does work].

Reference:

[1] Fredrickson, BL, Tugade, MM, Waugh, CE & Larkin, G.. R. (2003). A prospective study of resilience and emotions following the terrorist attacks in the United States on September 11, 2002. Journal of Personality and Social Psychology, 84(2), 365-376.