Why Resilience Is A Catalyst For Entrepreneurial Success

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Offline kamruzzaman.bba

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Why Resilience Is A Catalyst For Entrepreneurial Success
« on: December 25, 2020, 11:55:39 AM »
The path to success for an entrepreneur is a path filled with uncertainty. This is why resilience is an essential trait in entrepreneurship. Not only can resilience keep you on the track to success, but it can also encourage you to rise above your past failures. Entrepreneurs Ethan Bavuu and Cody Cornwell believe that resilience is a catalyst for entrepreneurial success. Cody Cornwell is a branding expert and the CEO of Heavy Marketing LLC, while Ethan Bavuu is a US Army veteran and CEO of multiple successful e-commerce businesses. These young entrepreneurs share three reasons how resilience pushes you a step closer to achieving your goals.                                                                                                                                             

It inspires you

If you are resilient, you are hopeful; resilience means believing that you are willing to keep trying no matter how many setbacks you face. An encouraging and positive attitude like this is precisely the mindset needed to succeed as an entrepreneur.

Bavuu shares, "No matter what entrepreneurial venture you embark on, its success rests solely on your attitude. Look to your failures for inspiration, be resilient, and learn from your past to have a successful future." Cornwell adds, "Resilience is a gift given to the brave; if you use defeat to inspire you to do better, you can't fail."

It leads you to greater success

The business world is overflowing with stories of second-time-around successes. There is a notable trend within the entrepreneurial world that those who are brave enough to try again find their resilience rewarded with success.                         Bavuu explains with an example, "My advice to struggling entrepreneurs is always to keep trying. Henry Ford started making cars in 1899, and they were deemed too slow by the public and by 1904, he had set a land-speed record,"                            Cornwell states, "If you can find the resilience to invest your hope and money in a new idea, even though your first idea may have cost you your confidence, your self-belief will reward you."

It gives you an edge

The adage of once bitten, twice shy, can apply to the resilient entrepreneur. Those who have suffered professional setbacks can become more adept at identifying potential pitfalls because of their experience with failure. Every entrepreneur should consider their resilience to be a useful trait that can give them an edge over their competitors.   

Md. Kamruzzaman Didar
Assistant Professor & Head
Department of Innovation and Entrepreneurship
Faculty of Business & Entrepreneurship