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Entrepreneurs
1. Become a resilient entrepreneur Much has been researched about developing one’s own resilience, but a key requirement is the ability to establish and maintain a strong social support structure. This is, of course, common in traditional and rural lifestyles, but it could be challenging in the urban and university environment. A thoughtful strategy and effort might be needed to grow a strong personal and professional network in this case. And do remember to manage your family’s (financial) expectations of you and your entrepreneurial venture.
2. Educate the founder – yes, you! A resilient founder knows to remain informed and knowledgeable. Invest in your own development and become a lifelong learner. Yes, you’re a student with coursework, but add to that selectively and strategically by utilising the many free resources available through the university and online. Specifically, learn about the practicalities of running a business and working with money.
3. Understand your ecosystem A key area of learning that deserves special mention, is your understanding of the ecosystem within which you do business. Your business is closely connected to a dynamic environment that changes continually. This includes your customer base or clientele, your supply base and the social systems upon which your business depends. Global events such as the war in Ukraine might, for example, not initially seem relevant to your small business, but the subsequent fuel price hike might very well have a significant impact on your operations. Listen, observe and adapt.
The word “pivot” has become synonymous with the startup environment in recent years, given the need to accept the complexities and uncertainties associated with doing business. 4. Be agile and adaptable Talking of adaptability, this is a key characteristic of both the resilient entrepreneur and the resilient business. The word “pivot” has become synonymous with the startup environment in recent years, given the need to accept the complexities and uncertainties associated with doing business. Accept and adapt – swiftly. Consider the challenges your business is faced with and look for the veiled opportunities that might accompany those challenges. How can you reframe the negative into a positive for your business? > YO U R CA R E E R G U I D E 2022 | 97
