Handling adversity in business

Each week I interview people from the world of business acquisition and find out exactly what makes them success.

This week we continue our conversation with communications expert Andy Harrington.  This time our topic is how to deal with adversity in business. Whether you are new in business or you've been in business for 30 years, everyone has challenging situations. Andy has heard every story imaginable about the adverse situations they've been in.

It's inevitable that nothing is ever plain sailing all the time. It's your ability as an entrepreneur to remain resilient and to keep on solving problems that is key to your ongoing and everlasting success. 

There are ups and downs, but it's how you deal with them is what counts. 

Key Highlights

[01:57] Strategies for tackling adversity

[04:30] Factual statement or self belief?

[06:05] What creates the emotions that you feel?

[08:27] Avoiding ‘why’ questions

[11:37] Process for learning from adversity

[13:46] Choosing the people and peer groups you mix with

[18:19] Why you need the ‘difficult’ person

[22:14] Presenting for profits

Notable Quotes

• Often when we talk to ourself when facing adversity, particularly with issues related to money, we say things like 'what's wrong with me?'
• Good problem solvers don't get themselves into a heightened state, because as soon as you start getting into a heightened state, your language patterns are not going to be very good
• Try to avoid a why question, like w'hy is this happening?'
• Have a process for disappointment, otherwise there's no learning
• You've got to compartmentalize who you get advice from

Resources

Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information. 

If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.

If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk

Each week I interview deal makers who have been on my business acquisition mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in M&A, then take my free online course. You can find it at: https://www.dealmakerspodcast.co.uk

You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/

If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast 

Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy