If you want to have a resilient business, you also need to be a resilient business owner who is not afraid to lead. If you look at the synonyms of resilient, you’ll see words like flexible, durable, robust, and strong – but what makes someone meet this ideal? Let’s explore the key characteristics of a resilient business owner.
Knows Their Own Principles, Morals, and Values
It may seem simple, but not everyone really knows themselves this well. Most of us grew up being told our principles, morals, and values instead of figuring it out for ourselves. This issue can make it hard actually to stick to those particular values because they’re not really felt deeply enough by you. Instead of following the leader, figure out what matters to yourself deep inside so that when you say something, it’s easy to stick to.
Possesses and Shows Empathy
One of the most important emotions you can have during any crisis is empathy. Not just for others but for yourself. When you can demonstrate empathy for others, the truth is, you’re also going to be kinder to yourself during a hard time. How you treat others is a clear indication of your worth in this society, so practice putting yourself into someone else’s shoes. After all, it will even rub off on how you treat yourself.
Understands the Business Mission and Vision
Crafting the right mission and vision statement is essential for your decision-making process as a resilient business. After all, the form your business is in today may look very different ten years from now. Think about the business of Netflix. They started as a mail company that sent movies to the home to view. Today, they’re a digital entertainment empire. Their mission has not changed. It’s still “To entertain the world.” Nothing is mentioned about the video, DVDs, and digital streaming – because of this, they are free to move forward in their business entertaining the world in various ways.
Knows How to Set SMART Goals
Yes, this again. SMART goals mean that the goal is specific, measurable, attainable, realistic, and time-bound. This means that the process of setting the goals requires thought and planning, and research to ensure that you create an effective, meaningful goal that brings your vision to life.
Values Big Data
A resilient business owner is not afraid of big data because they know that the more data you collect, the more accurate your predictions will become. If you collect data on 10,000 customers and 80 percent performed a specific behavior, you can be sure that this will carry forth as you invest more in advertising, product development, etc.
Can Stoically Assess and Manage Risk
You may think that being empathetic means that you’re emotional, but that’s not really true. Even if you feel an emotion, you can still be stoic about implementing the procedures you’ve set up to mitigate the damage happening. For example, suppose you’ve determined, due to data, that you aren’t going to outsource your sales pages to a particular outsourcer right now. In that case, it’s okay to feel bad for the person losing the job, but you must do it anyway.
Flexible and Adaptable to Change
Change is an inevitable part of life. Very few people live the same exact life from the moment they become adults until the day they die. Sometimes change is imperceptible other than in hindsight, but change is always happening. A resilient person is acceptable to the change and can find ways to adapt.
Is Ethical Center Full of Integrity
To be a truly resilient person and leader, and business owner, you must have some form of ethical center because a business owner who is not ethical and who does not act with integrity will not last long because the truth always comes out.
Knows How to Communicate Effectively
One of the most important things you do as a business owner communicates with others. You have to communicate with your customers, your affiliates, your service providers, and more. Communicating effectively means understanding that you and you alone are responsible for the message your audience receives.
Remember, even if these characteristics of a resilient business owner aren’t an exact match for yourself right now, there really isn’t anything that you cannot learn to build resiliency into your business. If you know what you need to learn, you can find a way to learn it, implement it, and be it.
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