Serial Entrepreneur Jason Calacanis who recently retired from blogging and started, instead, an email newsletter has always been straight-talker. His candor and quick tongue are traits I find in myself that often, like Jason, get me into trouble. If you subscribe to Jason’s newsletter you certainly received his latest. If not, you can find it here on Alley Insider.
Jason’s email has a “focus on the entrepreneurial and startup depression and economic downturns/depressions–and how you can deal with them.” He suggests that the economic downturns we’re seeing right now will kill 50-80% of startups within the next 18 months, and that entrepreneurs need to be prepared to take certain steps to fortify, but also to monitor and address their own “entrepreneurial depression and anxiety.”
I love this topic. I’ve stated many times on this blog, and otherwise, that one of the biggest defining characteristics of an entrepreneur is his/her perseverence and resiliency. Those characteristics are to an entrepreneur like water to a fish. These are traits that an entrepreneur just requires 100% of the time. Jason states,
“Depending on your DNA, getting your ass kicked is either complete torture or deviantly rewarding. Truth be told, I like getting my ass kicked because it makes me angry, motivated and focused.” Continue reading The Economy: An Opportunity
resilience |r??z?li?ns| |r??z?lj?ns
• (of a substance or object) able to recoil or spring back into shape after bending, stretching, or being compressed. See note at flexible.
• (of a person or animal) able to withstand or recover quickly from difficult conditions : the fish are resilient to most infections.
ORIGIN mid 17th cent.: from Latin resilient- ‘leaping back,’ from the verb resilire (see resile ).
It’s one thing to say someone or something is resilient, but it’s another to demonstrate resilience. Resilient would definitely be an adjective that you could apply to CitySquares and to it’s people. We’ve known that for some time, but as the company grows we continue to be tested, and we continue to pass those tests.
Like any company we face challenges, hurdles, obstacles. Some of them we face daily, others only rarely. Along the way this past quarter a few challenges popped up, big ones. Despite any number of factors that might work against us, we overcame them, we bounced back and with smiles on our faces. Executing falls on everyone’s shoulders, especially in a start-up company. It’s up to everyone, the entire company, the team, the tribe, to work together, pull their weight, and overcome these challenges. It begins and ends with the members of the tribe! And as the old expression goes, “you’re only as strong as your weakest link.” Well, this is one strong chain.
While this past quarter we overcame the challenges in front of us, we face others now. But we face them with a new found confidence, and with new knowledge and experience behind us. Over time we’ll face similar challenges with more wisdom, and we’ll even be able to prevent them from happening. That’s really the big challenge isn’t it? Learning from these things, gaining the experience, applying that wisdom correctly.