Step1
Receiving the Rejection--Initally, opening and reading a rejection is an emotional let down.
*Take a deep breath
*Read it once or twice and if it's too stressful--come back to it tomorrow.
*Try to keep your emotions under control--take a walk, pet you dog/cat, or do some fun activity.
Step2
Interpreting the rejection(general)--A good majority of rejections are pretty short without any reason for the rejection. Since you can't determine why your work was rejected you should not spend too much time on trying to figure it out and just move on to getting your work published.
Step3
Interperting the rejection(explained)--Some editors do give their reasons for rejecting your work. However, there are two types of explanations you can receive--constructive criticism, or mean bashing.
For constructive criticism, it would be well worth your time to go through your piece to see if you missed something that the editor mentioned. Just remember that it doesn't mean your work is bad, it just may need a little fine tuning.
As for the mean bashing rejection--These types of rejections are really not necessary and should not be taken to heart. These types can range from a big mistake on your part to the editor being a jerk. To handle this, focus on anything that was your mistake and correct it. Remember, everyone is human and makes mistakes that we sometimes don't catch.
Step4
Perseverance,attitude,conviction, and a "thick skin" --As a writer, you need to work on these traits.
*You need to believe that what you write is good.
*You need to keep submitting no matter how many times your rejected.
*You need to have a good attitude about yourself and you work.
*You need to accept rejections and critics while still retaining your personal balance.
Remember--your not the only who has ever had their work rejected. Even your most accomplished have rejections of their work.