Lessons from Successful Entrepreneurs on Growing a Resilient Business

Everest Business Funding Underlines Lessons from Successful Entrepreneurs on Growing a Resilient Business.

Students make the best teachers, and the best teachers share their mistakes and the lessons they learned from their trips and falls. Bad investments were made by Warren Buffet and Steve Jobs, who had to overcome obstacle after obstacle before tasting success. When it comes to building a business, studying the students of entrepreneurship who have become teachers and learning from their failures is one of the most proactive ways to develop resilience as an entrepreneur and within the business growth. Everest Business Funding, the revenue-based financing organization, spotlights five successful entrepreneurs and the lessons they have learned from their personal experience on how to develop a resilient business successfully.

  1. Make Transparency a Priority
    Aaron Levie, the CEO and co-founder of Box has gained a reputation for being one of Silicon Valley’s leaders who truly embodies transparency and practices such as a leader. Prioritizing transparency as an entrepreneur will result in elevating clarity and communication within an organization, resulting in a business model built on keys to success. Exercising transparency within an organization requires whoever is communicating to tap into vulnerability to generate more authentic connections consistently.
  2. Embrace Uncertainty
    Paris de L’Etraz, professor of Entrepreneurial Management and Venture Lab Director at the IE Business School in Madrid, says constructing a business as an entrepreneur is riddled with moments when entrepreneurs must step outside of their comfort zone. Uncertainty is a part of the entrepreneurial journey, so the more adapted a business and its leaders are to the anticipated times of uncertainty, the easier it is to embrace those times and see innovation and opportunity rather than disappear.
  3. Take Ownership of Personal Weaknesses
    Professor Michael Lepech is the academic director of the Idea-To-Market entrepreneurship program at Stanford. When building a resilient business, entrepreneurs who cannot take ownership, manage, or measure their weaknesses will ultimately get in the way of successful company growth. Lepech says that identifying personal weaknesses is just the first step. Entrepreneurs can build resilience and rid uncertainty within themselves and the business they are blooming by contently improving recognized weaknesses.
  4. Build a strong and supportive network 
    Steven Lee, managing director at STS Capital, was a doctor who turned entrepreneur. He recalls how helpful a strong support network of mentors, family, and friends can aid in boosting resilience in business growth. Such relationships are a stable pillar during the roller coaster of entrepreneurship and can provide perspective, advice, and more when treated with respect.
  5. Grow Thick Skin as the Leader of the Business
    Peter Boyd, the founder of PaperStreet Web Design, reflects on his lesson of building thick skin as a leader in a business. While growing a business, an entrepreneur is one who brings life to the business, so developing thicker skin will bleed into creating a resilient business. It aids in overcoming rejection and mistakes, which are inevitable. Boyd states that confidence and expertise are the keys to gaining thicker skin, and these skills can be developed through experience over time, one day at a time.

About Everest Business Funding

Everest Business Funding is a small business owner’s trusted partner. They support entrepreneurs by providing them with working capital to expand their business and operations. The entire application, approval, and funding process is completed in record time. When you need cash for equipment, staff, renovations, inventory, marketing, or anything else, Everest Business Funding can help.