Business Resilience: Four Strategies to Navigate Instances of Unexpected Challenges in Business Operations
Embracing resilience is vital in various facets of life, particularly in the realm of business. Even the most prosperous ventures can't eliminate all hurdles, with success often hinging on an enterprise's ability to adapt.
Consider The Lego Group, which launched in 1932 as a wooden toy manufacturer. As innovative thinker Ole Kirk Kristiansen noticed the rising plastic industry, he envisioned the potential of plastic bricks. Despite skepticism, he pressed on, securing his first molding machine.
Lego's story contains numerous ups and downs, such as a devastating fire in 1960. Regardless of these setbacks, Kaljeld Kristiansen, the new leader, saw the opportunity for change. Eliminating wooden toys from production led the company to thrive, eventually overcoming an $800 million debt and recording a net profit of $1.85 billion in 2021.
Now, let's explore four essential truths about resilience in business:
1. Resilience is a Choice
Resilience isn't an innate talent – it's a conscious decision. Clarity and purpose provide the foundation for resilience. If you feel unsure, simply ask yourself, "If I could create anything I desire as my life, business, and future, what would that be?" Clarify your vision, and you'll find resilience flowing naturally.
2. Resilience Seeks Possibilities
In times of scarcity, resilience does not despair. Instead, it searches for alternatives. With a friend, my friend and I yearned to attend Mardi Gras but lacked the funds. Instead of giving up, we delved into the realm of possibilities, eventually selling glitter to foot the bill – a testament to the power of resilience.
3. Resilience does not Judge
Business is unpredictable, with no guarantee of specific outcomes. Failures, financial deficits, and errors in judgment happen. It's crucial to avoid self-judgment and ask questions that disrupt self-criticism: "What is right about me that I'm not seeing?" "What is right about this situation I'm not comprehending?"
4. Resilience Runs on Inner Strength
Entrepreneurs can fall into the trap of seeking validation from others. Yet, relying on other people’s opinions may hinder self-discovery and unique ideas. Trust your judgment and follow your intrinsic guidance, despite potential outside criticism.
Resilience is the cornerstone of every successful business, imbuing strength and adaptability. In the face of hardship, choose resilience. In the face of challenges, seek possibilities. In the face of self-doubt, question your judgments. In the face of others' criticisms, trust your inner voice and forge new paths.
Simone Milasas, a renowned coach and speaker, often emphasizes the importance of resilience in businesses. She believes that resilience is not just a natural trait but a choice that individuals make. Kirk Douglas, an iconic actor and businessman, displayed remarkable resilience throughout his career, bouncing back from numerous setbacks and eventually becoming a successful entrepreneur. Interestingly, Simone's teachings and Douglas's career experiences serve as catalysts for businesses to foster resilience, overcoming obstacles and thriving in the face of adversity.
