Why practicing resilience is good for you and good for business
By Lynn Power
As an entrepreneur, you know that you should be pretty much ready for anything. You know that launching a business will be hard. And you know there will be challenges along the way. But often, those challenges can be even more than what you signed up for. And no one really prepares you for the 24/7 grind that comes along with entrepreneurship.
I’m speaking from experience. I launched MASAMI, clean premium haircare, at New York Fashion Week in 2020. Yes, a month before Covid lockdown in NYC. Just when things were starting to look better on the Covid front, I got an aggressive Stage 3 breast cancer in August 2021. With so many things out of my control, I’ve had to learn how to find new depths of resilience. Here are some of the ways you can too ( don’t wait until there’s a problem and you really need it):
- A support network is key. Surround yourself around people who will not only be good sounding boards, but also be real with you when you need it. Build a wide network of people you trust but also peers, experts, mentors and more. Find people who are supportive and optimistic, yet realistic. You don’t need negativity, but you also don’t need pollyannas. Don’t be afraid to reach out to people you don’t know, but whose experience can be useful to you. You’ll be surprised how many of them are willing to give you some of their time to help out an entrepreneur.
- Practice self-care. As a beauty entrepreneur, we’re all about this. Take time to exercise, make sure you’re sleeping well. Eat well. Detox your beauty. And find ways to de-stress, whether that’s hanging out with your dogs, a weekend getaway or a girl’s night out. Don’t look at this as “down time” but refueling time for you to be your best self.
- Mindfulness practice can be very beneficial. Whether that’s meditation, yoga or deep breathing exercises, practicing mindfulness helps you stay present and helps you have a clear perspective. We often get too caught up in past problems or future worries – neither we can control. So focusing on the moment is a good way to center yourself.
- Prepare for setbacks. These are a part of being an entrepreneur, and a lot of times, they are out of your control. So try to think through scenarios that can help you mentally prepare and plan for. What happens if my products don’t arrive in time? What happens if that contract doesn’t come through? You shouldn’t worry about every little thing but having some game plans for key scenarios will help you be more prepared to deal with the inevitable challenges that will pop up.
- Stay positive and stay curious. It’s easy to say you want to be positive, but hard to do when you’re going through issues. Try to focus on the things that you’re grateful for, no matter how small. And keep your curiosity engaged to always be in learning mode which will give you a sense of momentum. This will also help you see setbacks as lessons that can help you adapt vs. failures.
- Learn to delegate. This one can be hard if you’re a Type A personality like me. But delegating can be really healthy and help you keep focused on the things that really matter vs. getting sucked into the weeds. Find the things that you’re either not great at or are taking your attention away from the stuff that matters and start to delegate where you can.
- Take it day by day. Set realistic goals for yourself and don’t fall for the hype around needing to 10x your business overnight to be successful. This will help you feel you have forward momentum, even in tough times.
- Be open to change. It’s easier said than done, but today’s world requires a dexterity and flexibility like never before. If you see the sands shifting under your feet, don’t fixate on a goal or strategy that’s no longer relevant. Find ways to adapt your business, even if that means making major changes to your distribution strategy, your products or more.
- Stay current. It’s important to stay on top of trends, best practices and technology that can help make your life easier (like AI for product photos and copywriting). Use platforms like currnt to help you connect with experts in your industry. Take a day to go to a conference – a great way to get a lot of information in a short time – or follow thought leaders you admire. Plus, this is also great for building your network.
- Don’t forget to celebrate your successes, no matter how small they may seem to you. This can be overlooked, but it’s important to recognize the positives and take the time to appreciate the progress you’ve made. I try to celebrate often, as this is also a great way to motivate the team around you who is working super hard too. If you can have maximum fun along the way, that’s the best of both worlds.
Building resilience is a practice like everything else, but if you work on it, you’ll be a stronger, more realistic and more prepared founder. It won’t happen overnight, but you’ll find that you are better able to weather the storms that come. Plus, you’ll be able to pay forward your learning and insights to another founder who can benefit from your journey.
About Lynn Power:
Lynn was formerly the CEO of J. Walter Thompson NY and has worked on advertising and marketing for many iconic brands throughout her career including L’Oreal, American Express and Clinique. Lynn is the Co-Founder and CEO of MASAMI, a clean, premium haircare brand with a Japanese ocean botanical that’s all about hydration and also the Founder of the Conscious Beauty Collective, a group of 30+ indie beauty & wellness brands creating experiences to educate and spread the word about conscious beauty. You can find MASAMI at lovemasami.com or @lovemasamihair.