Many entrepreneurs are in search of ways to develop themselves with one of the most core skills in entrepreneurship, which is resilience. In fact, we all have a resilience that we have built throughout life. The only difference is that it varies from person to person.
In 2023, the Global Entrepreneurship Monitor revealed that many new businesses failed in the first two years. Only 50% survived over five years, and only a few made it to ten years.
For Muslim entrepreneurs, resilience isn’t just a survival skill; it’s a form of spiritual growth. To run a business successfully, it requires them to face uncertainties and competition and handle financial situations in a way that aligns with their religion.
Here is how Muslim entrepreneurs can develop resilience:
1) Reconnect with Your Main Purpose for Dunya and Akhirah
A Muslim entrepreneur’s journey is deeply tied to the concept of niyyah (intention). Remind yourself why you started. Is your business serving a greater good? Are you aligning your goals with your deen (faith)?
Remind yourself that this world (Dunya) is temporary and just a testing ground. He (Allah) knows the exact reasons why you should go through this turbulence and why you are the chosen one. It is because these challenges are the exact way that you can grow, whether it’s in your personal life or your career.
Keeping Akhirah in mind can also help you see that the problems you are facing right now are actually small in the grand scheme of things.
2) Seek Guidance From Allah S.W.T. Through Prayers and Reflections
During challenging times, prayers (Salah) and reflections can help you stay grounded. Making time to make dua (supplication), asking Allah for strength and guidance.
The Quran reminds us: “Indeed, with hardship [will be] ease” (94:6). Reflecting on this verse can renew hope and resilience, helping you persevere.
A study in the field of psychology of religion suggests that Muslims experienced a sense of peace and positivity when praying in comparison to them skipping prayers, making them anxious and unsettled. It also suggests that prayer helps them manage challenges healthily.
3) Build Yourself a Support Network
As human beings, we thrive more when we are in the company of others, and this also goes for resilience. This is especially true when we feel a sense of belonging. Building strong connections with family, friends or other like-minded individuals can help you bounce back better. Sometimes, all it takes is only quality time with these people; it is enough to make every day feel worth it.
As a Muslim entrepreneur, surround yourself with helpful mentors or a community of Muslim entrepreneurs who share your values. Networking platforms like chambers of commerce can provide connections with the right individuals and also provide emotional support and actionable advice.
4) Invest in Emotional and Mental Well-being
To be resilient means to have emotional strength, as it is about faith. When we are better equipped with this, it is easier to process setbacks, regulate our feelings, and stay calm under pressure. Stress would not feel overwhelming, but instead something that we can face with confidence and clarity. When we don’t see things in extremes, it can feel so much better.
However, not everyone can have this kind of mindset, so seeking professional counseling is really helpful if the stress becomes overwhelming. This is shown in studies that entrepreneurs are twice as likely to experience mental health challenges. Engage in activities such as mindfulness, which can coexist harmoniously with Islamic practices such as muraqabah, or self-accountability.
5) Learn to Adapt and Be Okay With Change
How can entrepreneurs develop resilience without adaptability? Without adaptability, resilience is like a tree that is standing firm but is unable to bend when there is a strong wind. When it is not able to do that, it will break due to intense pressure.
This is why when people embrace and accept change, they are better at handling pressures in these market-changing industries. To do this, become proactive in learning and pivoting your business strategies when needed. Explore halal financial tools, sustainable practices, or technology that aligns with your faith.
Takeaways
Resilience isn’t just about bouncing back from setbacks; it is about growing through them. Every challenge is an opportunity for a Muslim entrepreneur to make his business and faith grow. Spiritual devotion, coupled with practical steps, enables entrepreneurs to sail through all kinds of complexities with confidence.
