Not only do challenges in life make you more resilient, but they have the potential to set you up for success. Showing up, no matter what battles you endure exhibits perseverance and strength. These qualities are essential to being a strong manager or business owner.

Here are five life-changing challenges that help you grow and become a better leader.

1. Illness

Coping with an illness not only gives you emotional drive, but also spiritual endurance. Staying optimistic when the prognosis is poor takes effort. You've figured out how to navigate life with grace and dignity. Talking about your illness, whether it's anxiety, cancer or an autoimmune disorder, introduces conversations among peers that may help them with their own struggles.

2. Loss of a Someone You Love

Losing a loved one can force you to go back to the simple yet profound message to live life to the fullest. Loss comes in many different forms: death, divorce or growing apart. There are many ways to grieve, but facing a loss head on prepares you for future happiness and makes you resolute. It often requires introspection, communication, empathy and forgiveness. Circumstances vary from one loss to another but moving forward in a positive direction is key.

3. Failure

It is just as important to fail as it is to succeed because it is where you have the potential to learn the most. One of my favorite quotes is, "Sometimes you win, and sometimes you learn." Many entrepreneurs are where they are today because of the lessons they have been taught. Henry Ford, for example, went bankrupt several times and invented a few car models before owning a successful motor company. Overcoming obstacles and taking risks are key traits of a significant person.

4. Betrayal of a Friend

Some of your friends can be your greatest supporters, but it's often hard to forgive when things go south. Maybe someone you trusted did something out of character that led to the termination of your friendship. Like any life challenge, there's room to grow from such experiences. Moving on is a step in the right direction and is a praise-worthy quality in an effective leader. Stay positive and surround yourself with trusted companions.

5. Shattered Dreams

Perhaps your business plans fell through or you were passed over for the promotion you were expecting. You may ask yourself why this situation turned out the way it did. But not letting one shattered dream stop you from striving for something better is a commendable and respected leadership quality. Bouncing back from something you worked so endlessly for, but didn't work out, displays that it takes a lot more than this to stop you! Fearlessness and determination are crucial factors that separate the alpha from the rest of the pack.