Resilience in business, it is a conversation that can often be overlooked, but it is an important one. Business owners and founders can often feel alone when they are facing tough challenges and downturns. Bouncing back, continuing to hold your head high and giving yourself permission to reflect, learn and confide in the people you trust is all a part of the process.

Our guests Michelle Melbourne Co-founder, Intelledox and Duncan Amos Founding Partner, Red Robot gave us a raw insight into some of the hardships they faced when running a business and passed on their invaluable wisdom on keeping the fire burning through dark times.

So, what was some of the best advice that came from the session?

It is the struggle that matters: if your mission or purpose starts becoming hard, you need to refocus. There needs to be conviction in what you are trying to do.

Setbacks are feedbacks: take it in your stride and put it in to context. Learn from this and improve.

Smooth waters do not make good sailors: when things are hard, you are learning, you are becoming more resilient and a better leader.

Resilience is like a muscle you need to exercise: when you keep receiving setback after setback you will get better at bouncing back. It is a skill that you will develop.

When your business becomes real: that moment when you start employing people and have overhead costs, that is when you understand resilience.

Find your reset points: when things get hard, what will help you reset? Walking, yoga, family time? Find something that will help you clear your mind.

Stress is all relative: regardless of what you are going through, professionally, or personally, think about the bigger context and take it moment by moment.

Don’t be mad when you ask for feedback: this is self-explanatory.

Get comfortable making decisions: being indecisive can be more troublesome. Remember your purpose and get out there!

Focus on the process of responding not the end point: you don’t need to know the solution to a problem in advance, work on responses as it may pay off in unexpected ways.

Above all talk to other entrepreneurs: the conversation will help you even if they don’t know the answers.

Resilience can take you down two paths; you can rebound or recoil! Whatever you choose to do at the time, remember there are plenty of people to help support you.

Busting to find out what is next?

Well, you need to tune into next week to find out!

Weekly Innovation Challenge: Where’s the money? With Damien Hollingsworth, Anne-Marie Perret and Ken Kroeger.

If you missed out on the session, view it here