Most often, entrepreneurs and corporate executives are concerned about their physical strength and health throughout their careers. However, most of them do not realise that mental comfort can perhaps play a more important role in the success of their performances. Countless articles related to entrepreneurship around the world talk about the critical characteristics of mental strength such as optimism, grit, enthusiasm and empathy.
Mental toughness gives a critical edge to entrepreneurs or business executives that distinguishes the success or failure of the leader. It also gives them an edge over those who are in competitive businesses, as, notably, such leaders remain driven, confident, and work best under pressure. All these characteristics are respected in any business environment, and everyone who comes into contact with such leaders respects them.
Entrepreneurs are usually busier than other stakeholders in a business. Hence, establishing a work-life balance is critically important to hold on to the mental strength to run the business consistently and successfully. Adequate concentration on leisure time and self-care are vital ingredients for an entrepreneur to break the monotony that can lead to depression. Statistics reveal that many startups fail due to a lack of mental strength in the first phase of a business.
Some new entrepreneurs irrationally expect instant results from their business operations. This conduct, which most often is impulsive, can jeopardise the mental balance of co-workers and subordinates. Mentally strong entrepreneurs are ready for the long haul. They know better than to expect immediate results. They use their positive and time sparingly, giving employees enough time to perform rather than rushing them. They are aware that genuine change requires time. Starting a business and running it is thrilling to an entrepreneur. Similarly, this can be frightening as every day they are expected to confront a variety of unforeseen challenges and uncertainties. Hence, fear of taking a risk is a psychological barrier for most entrepreneurs. Fear of change, letting down others, failure, and fear of taking risks can settle in unless the entrepreneur is strong.
Risks
However, a strong-minded person is willing to take risks, not arbitrarily but with good analysis and proper calculations. They do not make decisions impulsively. The entrepreneur is expected to weigh the risks and other obstacles deeply and methodically to assess the potential downsides. With proper preparation, they are ready for worst-case scenarios before going into action.
Strong-minded business owners are not afraid to delegate their power if and when required. They do not feel inferior by giving away power to their subordinates. This action not only encourages better performance but is an effective motivational tool as well. Delegation entails much more than assigning work. It boosts productivity, develops mutual trust, encourages teamwork, and produces a happy workplace.
Neither attempting to please people nor trying to displease them to reinforce the image of strength is good leadership. Therefore, balance in approach to people is the most effective way to manage them. Mentally strong leaders strive to be fair all the time. They are able to navigate through a situation with understanding and grace. Nevertheless, they are not afraid to speak up and approach others firmly if the situation demands it.
Strong people do not waste time and energy on things they cannot control. In particular, they do not dwell on the things that have already taken place, however serious they are. They do not waste time complaining or criticising bad situations but attempt to find solutions.
They are aware that they can always control their own responses and attitudes in any situation and defuse a negative impact.
Self-discipline is a key factor in a strong entrepreneur. It’s a learned skill that gets better with practice. A self-disciplined entrepreneur is a master who can see the bigger picture and stick to the set plan. They trust their efforts and believe they can achieve a lot by being tenacious and persistent.
Self-discipline
Most often, self-discipline provides mental strength that leads to self-confidence, a trait which is absolutely important to lead. Also, the confidence derived through discipline allows individuals to make rational decisions in business. The leader’s self-discipline controls the actions of the employees and also creates a disciplined workplace environment.
Strong entrepreneurs accept personal responsibility for any decision they make. They do not pass the buck to their subordinates and blame them if a decision goes wrong. They never offer explanations or make excuses if things slip up. However, when things go right and the results are lucrative, strong-minded leaders lavishly give due credit to all stakeholders.
It is a universally accepted fact that failures are inevitable in business. Whether the business is large or small and the team consists of a few employees or ten thousand, erroneous decisions are made by virtually every entrepreneur during their careers at some point. The important point is that the entrepreneur must dust himself off and continue when he fails.
Strong people know that failure is part of the process in business as well as in life. Falling flat on your face is not the end of everything.
When an entrepreneur tries something new, he or she may fail at first, but not giving up is a feature of a strong mind. Strong leaders, on the other hand, are honest, hold themselves accountable for their actions, and seek advice without becoming complacent. Intelligent leaders turn to mentors or trusted people for such advice. They correct mistakes and move on.
Regrettably, some entrepreneurs make the same mistake over and over, and that is completely unacceptable. Research shows that the ability to be self-reflective correctly and effectively is one of the greatest strengths of a successful entrepreneur or corporate executive.
Strong entrepreneurs and business executives consciously prepare themselves mentally every day. They strengthen their minds like muscles. Some of them practice mental workouts that can dramatically improve their focus and ability to execute tasks. Hence, training someone’s mind methodically can make business decisions more accurate and help get things under control consistently.
Emotions
With methodical mental preparation, an entrepreneur can control his or her reactions, thus managing emotions more effectively. They have to learn to control their feelings to engage effectively and be on alert the whole time.
These preparations assist entrepreneurs in successfully involving themselves in the business.
Trying to train someone’s mind to be more mentally robust does not imply that they will become cold, emotionless people. It’s more of a journey to figure out what’s important and how to thrive in situations where others cannot.
Mentally tough people have greater control over their sense of self-confidence than normal people. Perhaps it’s linked to a deeper knowledge that they have power over their own destiny and that it’s a destiny that is not influenced by all of the problems and disappointments that come their way on a regular basis.