I am sure everyone is familiar with the saying: “every cloud has a silver lining.” But when faced with an adversity, we often forget that there is an opportunity embedded in every adversity. What distinguishes entrepreneurs from the rest is their ability to transform an adversity into an opportunity to enhance their businesses.
When I discuss entrepreneurship, I focus on having the right mindset for entrepreneurs to succeed. At EntreCity, we therefore place a high premium on developing and having the right mindset because it will empower you to remain positive even when you stumble upon seemingly insurmountable problems. Often the solution lies right in front of us but our mind is too clouded with apprehension to realize this. Instead of calling it quits when faced with adversity, try to appreciate the opportunity presented to you to reflect and improve yourself. An adversity may in fact provide a new lease of life to businesses.
That was certainly the case for Banyan Tree. The lack of a beach front which was considered essential for resorts led to one of the unique feature attractions of Banyan Tree which is the hotel spa. Entrepreneur Ho Kwon Ping, the founder of Banyan Tree, believes that adversity provides the impetus to generate new and unique ideas. I feel that if entrepreneurs can emulate this positive thinking then they can be rest assured that their ventures will be sustainable and successful.
It is natural to for entrepreneurs to be disheartened when the desired outcomes are not achieved. Nonetheless, wallowing in self pity and harping on your failure will get you nowhere. You need to rise above the challenges and remain resolute in your belief that your business will be successful and add value to society. Let your adversity empower you to do better and prove critics wrong rather than cripple you. The day you remain unfazed by adversity is the day you will be successful in transforming your entrepreneurial aspirations into reality.