Starting a business is full of challenges and roadblocks, with recent issues including the impact of artificial intelligence, inflation, rapid rates of change, and economic instability. However, resilience is a key trait among successful entrepreneurs, enabling them to overcome setbacks and continue striving towards their goals. According to a SAS poll, 97% of executives believe resilience is crucial, and 87% said it helps prepare for unforeseen events. However, only 25% felt they were leading a highly resilient organization. Resilience is often seen as an innate trait, but it can be nurtured and developed through coaching. The ability to execute ideas requires persistence and resilience, and combating negative self-talk is a part of that process. Focusing on small steps towards goals can help entrepreneurs convert adversity into triumphs. Leadership coaches can provide strategies to manage stress and setbacks, and encourage learning from past experiences. A study by Paul Nutt of Ohio State University found that over half the decision-making processes at medium to large companies failed.
“Resilience: The Underestimated Trait Bolstering Entrepreneurs Amidst Economic Instability
