November 21, 2017

Mr. Entrepreneur: The secret of Resilience in a business

By Telford Aduda

Resilience is defined as the power or ability to return to the original form, position after being bent, compressed, or stretched. It is the ability to adapt well to change, and keep going in the face of adversity. Scholars once said that it is easier said than done. It is expected that people should be resilient at the hardest times. However, these are the times when resiliency also becomes difficult.

In life, there comes a time when it seems like every bad thing only comes your way and so it is in business world. There comes a time when things are bad, there are no clients, your business is crawling, your competitors have also risen against you, the business environment is not favorable; that is the time you need to be resilient for you to move on.

Some of the virtues that can help you remain resilient even in the hour of grief may include;

Conviction

As an entrepreneur, you should always remember the reason why you begun to do business and what you wanted your business to achieve (vision and mission), they are the things that will convict you and make you continue even when you are almost giving up. Most entrepreneurs always begin with a high hope, but along the way, they lose hope and even quit business. Whenever you feel like you want to quite, please think about your vision and mission statement. If you are convinced that one day you will be a leading entrepreneur in the whole world, then you have to be resilient.

Commitment

Commitment can be referred to as the act of engaging oneself or making an unbreakable promise. Whenever you commit to do something, you have to do it whether you like it or not, As an entrepreneur, it is advisable to commit to your business in order that you may stand with your word even in the times of storm.

 Confidence

You must have full trust/belief in your powers to transform your business into something big. It is called self-confidence. If you are convinced that what you are doing is right, then go on and do it, avoid listening to discouraging statements from other people, statements that will only make you lose hope.  To be resilient even in the times of storm, you need to have confidence in yourself and do things the correct way.

Do not be a coward. A coward is a person who knows the right thing but is not doing it. Cowardice acts are the beginning of all failures.

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