Which entrepreneurial qualities are key to success?
Perhaps the successful entrepreneurs are more resilient. How people explain successes and failures in their lives is particularly relevant for entrepreneurs. Perceived fear of failure, self-efficacy and self-awareness are all factors that influence decisions concerning entrepreneurial opportunity and resilience.
How does Mindfulness build resilience?
Research has found that paying attention to small events and developing the capability to deal with and/or contain failures effectively as they occur are key drivers of resilience and success (Weick & Sutcliffe, 2001). Mindfulness in organisations causes dynamic capabilities to develop, where employees become aware of threats as well as of opportunities, seize opportunities when appropriate, and reconfigure operations when faced with unexpected events (Gaertner, 2011).
How does Mindfulness create resilient entrepreneurs?
As paradoxical as it sounds, entrepreneurs sometimes need to slow down in order to move at the speed their demands and ambitions require. Mindfulness practices are useful because they help entrepreneurs to become aware of, and then to rewire, how they interpret and react to what happens. They then have a much greater capacity for fresh, creative thinking on all fronts and enhanced resilience to whatever comes next.
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To read more on entrepreneurship and resilience, check out Dana’s article published on London School of Economic website!