- Business Resilience
- How to Create a Financially Resilient Business by Trudy Beerman
- Resilience Is Important to My Business. Here’s Why by Peggy Bell
- Break the Desire to Quit! by Jan Verhoeff
- Resilience in Business - A Holistic Perspective By Ilene Gottlieb
- How to Handle the Haters by Dee Coxon
- Resilience in Business - Part of the Entrepreneurial Mindset by Yvonne A Jones
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Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people, assets and overall brand equity. Business resilience goes a step beyond disaster recovery by offering post-disaster strategies to avoid costly downtime, shore up vulnerabilities and maintain business operations in the face of additional, unexpected breaches. ~ TechTarget.com
How to Create a Financially Resilient Business by Trudy Beerman
33% of small businesses are challenged with a cash flow problem according to a recent bank run survey of 2700 small businesses. Lack of access to cash when needed can mean payroll is not met, inventory is not restocked in time, and income opportunities are lost. Lack of access to cash can compromise the resilience of a small business.
The initial start-up of any new business tends to be a high cash equipping investment phase that sets the foundation for future profitability. Any business that does not address their cash access issue proactively, may find themselves in crisis response mode, and likely becoming a statistics of the failed businesses which never pass the 7-year anniversary mark.
CASHercise(TM) is a workout program for the small business owner’s profitability goal. As the trademarked word suggests, it is cash exercises, and those exercise actions are geared to building business resilience in cash access, streamlining spending decisions, and maximizing profitability.
Just like in physical health, the temperature is an indicator of general health. A businesses resilience also has a temperature gauge and that is the business credit score.
Not having a score tells vendors, investors, and banks crazy. They question the validity of your business existence.
Having a low score is a temperature red flag of potential business failure – at least on paper.
A high business credit score is a strong resilience business indicator that has investors, vendors, and future clients who are yet to engage with your business already agreeing with your apparent credibility and success.
It’s FREE to check this important business resilience health factor. Where does your business fall?
Here is a free resource to see. This resource is like “Credit Karma” for businesses.
Connect with Trudy at cashercise.com
Resilience Is Important to My Business. Here’s Why by Peggy Bell
Resilience in my business is crucial. I’m not sure how anyone can be successful without it. Let me explain my reasoning.
Let’s imagine a table. The top of the table represents my business. One leg is made up of marketing, another is for networking, a third is for the hours I work my business each day and the last is made of mindset.
We know in life that things don’t always flow and work smoothly. At times I may be sick or unable to work on my business for a few days. Still, this causes the third leg to start wobbling. Three days go by and I completely forget to post on social media or I just can’t think of anything else to post that will keep me visible.
Suddenly that first leg begins to wobble. I start to doubt whether or not I have what it takes to make my business succeed. There goes the fourth leg. You get the picture. The support (legs) which holds up my business starts to weaken.
That’s where resilience comes into play. As a business owner, I have to be dedicated enough to recover quickly from those things which bring me down or happen unexpectedly. My business needs those steady legs for success. They have to be solid and in working order to make the most of each day.
Not every day is going to be as perfect as I planned. I have taught myself to realize that beforehand (mindset) and move on. But each part of my business is important and cannot be neglected.
Resilience is not just a ten letter word. For a business owner, it’s a vital part of my success.
Connect with Peggy at www.facebook.com/liveyourpurposelifecoaching
Break the Desire to Quit! by Jan Verhoeff
Succumbing to the desire to quit, means to fail. When you break the desire to quit, you overcome failure and find intentional success. Success surrounds us. We just have to be open to the possibilities that it exists within us.
A foundation of being unstoppable can bring ultimate resilience, but who has the power to always be unstoppable? You do.
It is within each of us to get up and go again, no matter how many times we’re knocked to the ground, or facing failure because failure isn’t an outcome we readily accept. Success is the desired outcome.
Just don’t quit!
How many times must we get up and go again? Every time.
As a child, I loved horses, and I’d ride 24 hours a day if my parents would have allowed me to do so. It didn’t matter if I got bucked off, or fell off, the object was to ride. So I got back on.
One pony loved the corral, so no matter how long I’d been riding, she would always go for the corral. She tried to rub me off by pushing against the gate and tried to throw me off, by jump-bucking around the corral. It wasn’t until I realized that if I put the feed out AFTER I rode, she wasn’t in such a big hurry to get back to the corral.
So I learned to feed her early in the morning, then ride her after her tummy was full before I fed her again.
The solution was in finding the solution.
It was there all the time. I couldn’t give up. I had to solve the problem. I loved to ride.
Meet Jan at www.JanVerhoeff.com
Resilience in Business - A Holistic Perspective By Ilene Gottlieb
There are many ways to define “resilience”. The definition in the dictionary by Merriam-Webster spoke to me: “… an ability to recover from or adjust easily to misfortune or change …”. Benjamin Franklin wrote “… in this world nothing can be said to be certain, except death and taxes …”. I would add that change is also certain as is the need for resilience.
If we are to serve others in our businesses in a way that is empowering then resilience is necessary. Change is occurring all the time and in order for each of us to be in balance, we must recognize that change is not only necessary it’s good.
Our bodies on a cellular level are always doing their best to maintain homeostasis or balance and to do so they must be resilient. I love to think of my cells as the microcosm of my body macrocosm and my body as a microcosm of the world. From an energetic perspective, everything is not only being reflected from one to the other, but it is also all connected.
I have had the joy of serving others as a Nurse for over 48 years and in Vibrational Healing for over 24 years. I don’t know where all that time has gone but, I do know that the way I have served has changed quite a few times, not because of indecision or lack of clarity, but rather as a result of the changes that have occurred on the planet and in my world.
If we embrace change and choose to be resilient, then our life path and how we serve will be a mirror of exactly that. It is a choice to adapt to our personal and professional life changes, to the changes that occur in our clients, moment by moment, and to the overall flow of energy that is the essence of it all. I believe, who we are Being in our relationship with ourselves is the key to resilience.
Learn about Ilene at IleneTheHeartHealer.com
How to Handle the Haters by Dee Coxon
As an entrepreneur, when it comes to creating anything we all wish we could do this perfectly so that no one would criticize it. Imagine not having your profile picture criticized or your website slammed. What if your first book could make the Amazon bestseller list with no negative feedback, wouldn’t that be amazing?
As soon as you start thinking like this, all you’re doing is inviting that voice in your head to say don’t share this until it’s so good no one can criticize it. This confidence crippling sentence is the #1 reason brilliant ideas stay trapped inside heads. It’s why original artwork stays covered up and your latest blog post is still a draft.
Believe me, criticism and negative feedback do not mean you didn’t try hard enough or that you’re not good enough. In fact, criticism isn’t even about you, which is surprising given that every painful utterance is aimed at you and at times can rip your heart out.
Here’s the thing, everything you do will be criticized by somebody even if it’s just one person. The age-old reason being you can’t please everybody, but all too often the real reason, in terms of you believing in yourself is; it’s not you, it’s them, it’s about how they feel in the moment. It’s about how your product or service makes them feel that day and even if it’s the best work of your life, someone somewhere will say its crap because it’s not for them.
The thing with haters is because they’re coming from a place of negativity, they’re going to say this stuff anyway. You can’t stop them. What you can do instead is, manage your own feelings and responses. And one of the best ways I’ve found to do this is, to know that with haters, it comes down to this, they’re just having another bad day, it’s that simple.
So it’s best to think about this instead, right now there are 7.6 billion people on this planet, so why give up because of something one or two haters have said, when you’ve already come this far.
This is an edited excerpt from the book Polish the Diamond In your Heart by Dee Coxon Author, Speaker & Coach.
Dee Coxon on Amazon
Resilience in Business - Part of the Entrepreneurial Mindset by Yvonne A Jones
A few months ago one of the shelves in my kitchen cupboard broke down; 14 years after it was installed. I can still hear the sounds as my husband opened the cupboard door and the plates, dishes, cups, and saucers slid together and crashed to the countertop and then on to the floor tile, it sounded like a freight train colliding with another object in a horrible crash! It was an unexpected jarring sound.
I dashed to help and between us we were able to save a few pieces. The loss of quite a number of Wedgewood stoneware pieces was especially painful, not just because of their value, but because they originally belonged to my husband’s sister who passed away several years ago.
Two cereal bowls survived and one has a chip on the outside. Each time I look at it, it makes me smile as I think of it as a ‘survivor of the crash’.
Are you a new business owner? Are you just setting up your business or have you been in business for some time? What challenges are you facing at this time? What challenges have you faced?
It does not take a long time to be in business online or offline to determine that resilience, the ability to bounce back from setbacks, is an essential quality entrepreneurs must cultivate.
Perhaps your setbacks have been manageable and you were able to quickly recover and move forward. For others they have experienced crashes, falls, perhaps broken promises that shattered their trust and confidence.
Some entrepreneurs find that the ‘easy money’ promised to them online has been elusive. Instead of giving up, explore other avenues of growing your business. Sometimes the challenges may seem insurmountable, in which case your best alternative is to find a mentor or a coach who has been along your path yet has overcome those challenges.
Another option may be to seek out another business model.
Resilience can be described as bounce-back-ability.
Remember that it’s not whether you’re going to fall is important. It’s whether you’re going to get up and keep going and keep growing. You may have a chip like my bowl or you may have large battle scars. Use each as a learning tool and build on the knowledge gained to fortify yourself to show resilience and keep moving.
Connect with Yvonne at 50andwisercoaching.com
Thanks to all participants who shared different points of view regarding the importance of resilience in business.