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20
Feb
Resilience Is A Hot Topic In Business These Days
I have considered both the nature of individual resilience and what makes some organisations as a whole more resilient than others. Why do some people and some companies buckle under pressure? And what makes others bend and ultimately bounce back?
Resilient people possess three characteristics:
  1. A staunch acceptance of reality
  2. A deep belief, often reinforced by strongly held values, that life is meaningful
  3. An uncanny ability to improvise.
You can bounce back from hardship with just one or two of these qualities, but you will only be truly resilient with all three. As an Entrepreneur it is paramount that you posses resilient traits. But it is not our traits that ensure business resilience and survival. 10 Tips to ensure your business builds resilience:
  1. VISION – have vision and do not lose sight of the vision for your business
  2. VALUES – make sure your personal values are in line with your business values
  3. PASSION – never lose sight of your passion and the ‘why’ behind your business
  4. RISK RADAR – the ability to anticipate problems before they develop, like keeping an eye on what your competitor is doing
  5. TRANSPARENT RELATIONSHIPS AND NETWORKS – that enable risk information to flow freely throughout your business to prevent the “risk blindness” that can afflict business owners
  6. RAPID RESPONSE – to ensure that an incident does not escalate into a crisis or disaster, and that people and processes are in place to restore things to normal as quickly as possible
  7. REVIEW AND ADAPT – the ability to learn from experience, and make the necessary changes so that every adverse event or circumstance is analysed and evaluated, and improvements made to strategy, tactics, processes and capabilities
  8. LATERAL THINKING – always be ready to think ‘outside the box’
  9. MENTOR, COMMUNITY SUPPORT – join a business community or get a business mentor; be open to support and know when to ask for help and advice
  10. SELF AWARENESS – continual personal development is essential for the entrepreneur and will build resilience
It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.–Darwin
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