Every entrepreneur needs to focus on developing resilience—the ability to stay the course when times are tough and to take setbacks in stride. In fact, an article in Forbes magazine several years ago placed the quality of resilience at the top of its list of essential character traits for entrepreneurs.
If you are resilient, you continue to work toward your goals, even when financial resources are low, and the window of success is narrow. Resilient entrepreneurs stay calm in the face of unexpected challenges and steady when things do not go according to plan.
However, all of this is easier said than done, and business schools seldom teach classes on resilience. Here are a few points based on a survey of the literature on the topic, as well as my own experience.
