Do You Have the Entrepreneurial Resilience to Lead in a Crisis? Take This Test and Find Out

The pandemic has taken a huge toll on even the largest and most historically successful businesses. But it hit small and medium businesses hardest.

That's why there's been more talk lately of the so-called "adversity quotient," which suggests that in business as in life, resilience matters more than intelligence, resources, and scale. It's resilience in times of adversity that helps you bounce back from loss and start over under challenging circumstances.

So it's worth asking yourself: Do I have the entrepreneurial resilience to lead in a crisis, such as the one we’re in now?

Take the quiz below to find out:

Have you handled a work-related crisis in the past?

Not really, but I was born ready. I have a can-do attitude that will carry me through times of crisis.

Yes. I’ve weathered crises in the past and I know what to expect.

Yes, but I know that crises are largely varied and unexpected.

How do you respond when faced with a problem that seems insurmountable?

I try to be as transparent as possible. Good or bad, my people should know what we’re up against.

I speak the truth, prioritize transparency, and open the floor to suggestions and concerns.

I look at the positive side of things only and err on the side of caution rather than transparency. I don’t want my people to panic and be anxious.

When the COVID-19 pandemic first started to affect your business or company, what was your immediate reaction?

I tried to be innovative by introducing new products and services relevant to the needs and wants of the people today.

I created social media pages and tried to generate buzz about my business in all the ways I can think of.

I took time to restrategize and decided to explore the platforms where my existing and potential clients are.

In challenging times, what drives your business decisions?

Short-term security and stability. As much as possible, I play safe and prioritize the status quo.

Personal matters. I have to deal with my own problems first before I can face my people and business.

The future of the company. I think long-term and try to find reasonable ways to save the business.

Which of the following best describes your response to failure?

I accept the reality I’m in and wait for the right moment to start again.

I try to find a reliable financial partner who can support my vision of making the business thrive, regardless of the situation.

I take it upon myself to revive the business at all costs—even if it means using my savings.

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Do You Have the Entrepreneurial Resilience to Lead in a Crisis?

You got Mal!

Mal got her can-do attitude and incredible powers of persuasion from her mom, Maleficent, but her kindness and empathy are all her own. When faced with a tough decision, you weigh each side’s pros and cons and try to come up with an out-of-the-box solution.

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Regardless of what challenges arise, a reliable financial partner like BDO can help you soldier on and keep pushing your business to the next level. It's much easier to innovate and create new opportunities in the face of adversity with the right partner: BDO SME Loan.

BDO SME Loan offers financing for all your business needs, from purchasing inventory, to manging equipment maintenance and replacement, to paying suppliers on time while waiting for funds from your customers' payments.

To learn more about BDO SME Loan visit the official website. For more updates, follow BDO Unibank on Facebook.