Overcoming Setbacks – Mastering the Mental Game of Business

Unexpected challenges and setbacks are unavoidable when growing a business, and if not managed properly, can really fuck up your progress.

One day you might feel on top of the world, then BAM, a customer gives you a bad review, you lose a job you quoted, and you find out that your sales are dropping.

Or, maybe you are just starting your business, and your enthusiasm gets squashed by realizing there is a LOT more competition than expected.

There are endless ways that setbacks can hit, but when these inevitable bad days happen, they can crush your spirit and leave you anxious and stressed.

They’ll have you questioning yourself and your abilities and, in many cases, lead you to give up.

Overcoming setbacks is one of the two things that make growing a business hard (the other one is showing up to do the work consistently).

And, if you can learn how to overcome setbacks without letting them destroy your confidence, motivation, and momentum, then you are infinitely more likely to succeed.

The Reality of Setbacks

Setbacks are unavoidable in business and life. Period.

I don’t care if your name is Elon Musk or Michael Jordan, you’re going to go through some shit at some point, and it will challenge your resolve.

No amount of worrying, planning, list-making, mentoring, researching, practicing, investing, or experience will allow you to escape this reality of being alive.

Life is fun and interesting, and sometimes it’s really hard.

My purpose in highlighting this is not to be pessimistic. In fact, I find it liberating and motivating.

It reminds me that I’m not the only one who hasn’t figured it all out. I’m not the only one who loses sleep when my income drops for a couple of months, when a marketing strategy that I relied on stops working, or when new competition enters the arena making my life harder.

Embracing this reality is one of the things that helps me get through the struggle.

It also allows me to turn my head toward dealing with the setbacks when they happen instead of beating myself up, bathing in anxiety, and spiraling downward.

How to Overcome Setbacks and Unexpected Challenges

Once you accept that they are inevitable, the obvious next step is to learn how to work through them.

I’m 99% certain that there is no way to completely avoid the negative emotions and painful experiences of setbacks. They will always suck to a certain degree.

However, I’m equally sure that how you process negative emotions that arise will determine the duration, intensity, and impact they have on you and your business.

I’ve found that failing to process my struggles in a somewhat structured way will prolong the suffering, cause me to lose sleep, and lead to poor decisions that hurt myself or others.

In the past, I’ve let setbacks destroy my peace of mind and productivity, but over time, I’ve learned strategies for overcoming them so I can move on within minutes or hours instead of days or weeks.

So, in this podcast episode, I wanted to share strategies I’ve found effective for dealing with these mental struggles.

I hope you find them helpful.

Mastering the mental game of business is essential to your success. Listen to the full podcast to learn eight strategies for overcoming setbacks faster and while taking less damage.

HS037 – Overcoming The Setbacks of Growing a Business

Books Mentioned in This Podcast

• The Wisdom of Insecurity by Alan Watts
• Zen and the Art of Motorcycle Maintenance by Robert Persig (I recommend the audiobook)
• The Obstacle is the Way by Ryan Holiday
• Cleaning Up Your Mental Mess by Caroline Leaf (useful journaling practice)
• The Art of Living by Thich Nhat Hanh