Why leadership is key to your business resilience is the topic of this blog.  Business resilience is what you need when running your business. The businesses that share these characteristics tend to be at a large, multinational corporate level. However there are lessons that we can take from those and apply them to smaller ones.

Dealing with shit when it hits your business fan is one definition of resilience. Another more formal definition would be “adapting well, when faced with adversity, trauma, threats or sources of stress” – a more official definition given by the American Psychological Society back in 2014.

So, we’re not talking about how you can predict the next perfect event – that would be impossible. There are so many variables that happen in our business environment, there are so many “what ifs”. It could be a climate-change issue, it could be an IT issue, it could be a fundamental physical security issue; we can’t accurately predict what the next thing will be. Make sure your businesses are as resilient as they can be, so that they will cope with the next set of circumstances.

The importance of leadership

Most importantly, let’s look at why leadership is key to your business resilience .  Above all, leadership is the key to your business being and staying successful.

So, to be business resilient, you as a business leader need to resilient in your own mind. You’ve got to be able to act with some degree of calmness, and be aware of you and your teams mental health . And In terms of what you bring to your decision-making, you need to believe in a few things. You need to be able to invest yourself in all the things that are required; it also means being able to review the situation objectively.  So, if you have been caught short, and the recent pandemic put you in a situation that you weren’t quite prepared for, then this is the time to learn.

As a leader, you need to develop the right culture, and the right environment in your business. Learn and take lessons, prepare, and equip yourself, ready for the next situation that may occur.

In conclusion, keep you reliance strengthen your leadership and drive your business forward. In the same vein, remember, whether it’s a multinational business or an SME business, you are the leader. You may, in fact, be the whole team, and you may not have other people dealing in your business.

Check out our Business Growth Club,  move your business forward.   Get in touch with us to see how we can help you and your business resilience and all your accounting and tax needs. For more business and finance , news, advice and tips, don’t forget to watch our weekly broadcasts, listen to our weekly podcast I Hate Numbers.

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