World Entrepreneur Day: Stories of Resilience

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

Almost always, some of my biggest business challenges or losses have been followed by my biggest business wins. Endurance and resilience are among the best traits of leaders.

What motivates you?

Building something new.

Could you share any tips to aspiring entrepreneurs?

It isn’t that winners don’t get knocked down – they do, all the time. They simply have the ability to get back up more often than they get knocked down. Take a moment, lick your wounds and then get back up to fight another day.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was he outcome? What did you learn?

One of the most vivid examples of resilience and perseverance in my entrepreneurial journey was during the early stages of launching my recent business. We faced significant challenges, from managing capital to navigating the regulatory hurdles of opening cannabis retail stores in Canada. It was a balance between expansion and ensuring we had enough funds to cover the cost of continually opening new stores. We overcame this through relentless effort to get all of our stores licensed and by finding locations that would be profitable in a short amount of time, ensuring sufficient cash flow to fund the expansion of CANNABIS XPRESS across Canada.

What motivates you?

My top motivators are passion and belief in my ideas and the products and services I am selling, along with independence, financial gain, challenges, impact and legacy, expressing my creativity through my business, personal growth and development, and flexibility in my schedule.

Could you share any tips to aspiring entrepreneurs?

Here are my top 5 tips: first, identify a real problem to solve by ensuring your business idea addresses a genuine need or pain point in the market. Conduct thorough market research to validate your concept. Second, build a strong network by surrounding yourself with mentors, advisors, and like-minded individuals. Networking can provide valuable insights, support, and opportunities for growth. Third, stay adaptable by being prepared to pivot your business model or strategy based on feedback and changing market conditions. Flexibility is key to navigating challenges and seizing new opportunities. Fourth, focus on customer experience by prioritizing exceptional value and service. Happy customers can become your best advocates and drive word-of-mouth growth. Lastly, manage finances wisely by keeping a close eye on your financials. Create a budget, monitor expenses, and ensure you have enough capital to sustain and grow your business.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

The essential step in the lifelong journey of an entrepreneur is the first – at the exact time the journey begins. That is, beginning life as an entrepreneur takes courage, acceptance, and embracing uncertainty. To begin meant realizing that I might not earn a single penny, or even lose money in the process. Although I had done the research and was confident, I needed a mentality of absolute flexibility. Even though I had spoken to hundreds of people and conducted all sorts of research to ensure my business’s success, a seasoned entrepreneur will always need to be comfortable with being uncomfortable. I believe that, although I’ve gone through many rollercoasters in my 2 years of entrepreneurship and expect many more to come, the start of the journey will always remain the moment when I needed the most courage and belief.

What motivates you?

My family and knowing that I can fulfill my financial goals while doing what I like with all the freedom in the world.

Could you share any tips to aspiring entrepreneurs?

This will be a two-word answer, but two words that are the most essential aspect of entrepreneurship: JUST START.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

As a registered nurse during the COVID-19 pandemic, I saw the significant waste generated in healthcare settings and felt a strong drive to address both menstrual health and environmental issues. This led me to join Aruna Revolution. One of our most challenging periods was during the transition from R&D to market entry. My co-founder, Rashmi, dedicated extensive time to perfecting our product and, more recently, navigating hurdles and building our business infrastructure. Despite the progress and obstacles in scaling up production and manufacturing, we remain committed to our mission. Our collective perseverance has enabled us to overcome these challenges. Now, as we successfully enter the market, this experience has underscored the importance of resilience and commitment in achieving our goals and making a meaningful impact on sustainability and health for all.

What motivates you?

I’m motivated by a commitment to sustainability and improving health outcomes. My nursing background fuels my drive to create products that are both effective and environmentally friendly, aiming to leave a healthier planet for future generations.

Could you share any tips to aspiring entrepreneurs?

Stay focused with a clear mission and values to guide your decisions. Adaptability is key, so be prepared to pivot and adjust strategies as needed. Building a strong network of mentors and peers provides valuable support. Use failures as learning opportunities to grow and improve. Prioritize sustainability by integrating it into your business model. Balance passion with practicality, ensuring your ideas are grounded in reality with a solid plan. Stay customer-centric by understanding and meeting customer needs. Finally, maintain resilience to stay committed through setbacks and challenges.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

One of the most defining moments of resilience in my journey with OPX Ai came from the early days of founding the company. Starting OPX Ai alone, I invested years in developing intellectual property and bootstrapping the venture. The path was far from smooth; it involved overcoming significant hurdles to secure contracts with major energy companies while simultaneously building a capable team. A particularly challenging period was when we were developing our CCUS (Carbon Capture, Utilization, and Storage) patents. Despite the technological complexities and financial constraints, I remained steadfast in my commitment to advancing our solutions. The process required rigorous research, numerous iterations, and a relentless pursuit of innovation, all while managing tight budgets and balancing the need to scale our operations. Through perseverance, we not only achieved critical milestones but also successfully established a strong foundation for our technology. The outcome was transformative: we secured key contracts, built a talented team, and positioned OPX Ai as a leader in the field. This experience underscored the importance of unwavering dedication and adaptability, teaching me that resilience is not just about enduring challenges but also about leveraging those experiences to drive growth and innovation.

What motivates you?

My motivation is deeply rooted in a commitment to creating a positive environmental impact and improving the lives of those working in the energy sector. Growing up in New Delhi, I witnessed firsthand the severe consequences of pollution and global warming, which ignited my dedication to sustainability and technological innovation. At OPX Ai, I am driven by the opportunity to develop solutions that advance technology while significantly improving the safety and well-being of operators in the field. Our work in CCUS and AI-driven solutions aims to enhance operational efficiency, minimize risks, and keep people away from harm. Knowing that our technology can protect lives and contribute to a safer working environment fuels my passion and determination. Additionally, the concept of “True Grit” resonates deeply with me. Embracing challenges and setbacks with resilience and perseverance has been a core part of my journey. I am also motivated by the awareness of our mortality, which drives me to make the most of every opportunity to create lasting, positive change. Each milestone we achieve – whether it’s securing new contracts, advancing our patents, or receiving positive feedback from clients – reinforces the importance of our mission. This blend of environmental stewardship, safety, and resilience inspires me to push the boundaries of what’s possible and to strive for a better, more sustainable future.

Could you share any tips to aspiring entrepreneurs?

Stay resilient, embracing setbacks as opportunities to learn and grow, with persistence being essential for overcoming challenges. Focus on creating value by solving real problems for your customers, as this drives success. Remain adaptable and open to change, which helps you seize new opportunities. Build a strong network of mentors and peers who can offer support and guidance. Let your passion fuel your journey as enthusiasm will inspire and sustain you through the ups and downs.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

I co-founded MDBilling.ca almost 14 years ago. After running the business for 12 years, it was acquired by the Royal Bank of Canada (RBCx). By the time we were acquired, MDBilling.ca was the largest medical billing software and services provider in Canada, with a 60% market share in Ontario. I decided to bootstrap the company, which led us to maintain a maniacal focus on efficiency and growth. During the first 5 years of the business, I experienced major family events – my two daughters were born, and my mother passed away. At the same time, my wife was working at a hospital and was often on call. Time and sleep were a luxury. Looking back, it’s remarkable how I was able to start and grow a business while handling family matters. I learned that tenacity and grit have the highest impact in entrepreneurship. Today, as an angel investor, I look for founders who have the ability to push through difficult times while also being receptive to their advisors and coachable.

What motivates you?

Growth – not just in business, but personal as well. For me, co-founding, bootstrapping, and growing an organization allowed me to learn all aspects of a business – from sales, marketing, finance and HR. It truly is an unbelievable learning experience. I look for the same traits when I speak with other founders.

Could you share any tips to aspiring entrepreneurs?

Be curious. When receiving advice from coaches, mentors, and advisors… always be curious and ask “why”. It is more important to understand the reasoning behind the advice so that you can learn and see if it applies to your situation.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

We launched a B2C used furniture company, which required in-person operations, sales, and management. This involved helping to empty people’s homes, organizing a warehouse, and running a storefront. We faced multiple COVID shutdowns, customer no-shows, a stolen van, and had to fire and hire over 10 staff members – all in 2020 and 2021, when the world was in limbo. We ended up shutting the company down at the beginning of 2022 because we were never able to hit profitability. Despite persevering through all of these challenges, we eventually ran out of money. I learned that even with a solid idea, strong supply-side market adoption, a committed team, and good investors, if the environment isn’t right, you can’t win.

What motivates you?

2 things: winning – whether it’s against another team, the market or myself – and trying to make the world better in every interaction.

Could you share any tips to aspiring entrepreneurs?

Don’t take your eye off the customer; you are acting in their service. If you start to focus too much on your product, business operations, or anything else and forget that you are helping them solve a problem or pain point, you can lose them quickly.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

As an entrepreneur developing wearable technology for skincare treatments, resilience has been integral to the Morphace journey. We’ve faced challenges ranging from technical hurdles in product iterations to unpredictable shifts in potential partnerships. For example, when our prototype failed to perform as theoretically designed, it required week-long iterations and persistent problem-solving. These experiences taught us a crucial lesson: if we’re unsatisfied with the current outcome, we must push through to create a new one. Even after technical issues are debugged and partnerships are secured, new challenges always arise as we create change. So, we’ve learned to embrace the feeling of always solving the next problem. Obstacles are opportunities for growth and innovation.

What motivates you?

At first it was curiosity, discovering what might be possible. In the long term, the satisfaction of overcoming challenges makes this motivation sustainable.

Could you share any tips to aspiring entrepreneurs?

I often tell myself not to be a perfectionist and just do it. Start by solving other people’s problems because that’s how you create value and impact for society.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

Just as we were starting Skinopathy in 2020, we were told by just about every subject matter expert, physician, and healthcare professional that healthcare would never adopt AI. In fact, many called us “f’in crazy” for even considering it. Of course, we founded our company in late 2020 and have since served over 2,200 physicians and over 17,000 patients and have won some of the top accolades in the medical sector. It turns out, when used in a clinically-valid way, artificial intelligence serves as a great tool to drive efficiencies and better outcomes in healthcare. What did we learn? Sometimes, you have to go with your gut feeling – regardless what the world is telling you.

What motivates you?

Impact and awesomeness. This is the most I’ve ever cried in my career – as helping people with serious conditions is often emotional. Every patient we help, every cancer we help remove, and knowing how many more people need our help motivates me.

Could you share any tips to aspiring entrepreneurs?

It’s OK to fail. In fact, that’s where I was able to grow the most. Own up to when you have failed, learn from it, and move on.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

As an entrepreneur, you have to constantly be perseverant and persistent. In the early days of founding my startup, Homekin, I was navigating unchartered and unknown territories as it is a business model that is unique compared to my other businesses. With $0 budget for marketing and advertising, I used my skills to reach out to notable press & influencers to feature or buy our services and product to create hype around the business. I believe that having a scrappy mentality and drive is important even as a business grows.

What motivates you?

What motivates me is knowing that this life we have is finite and I want to spend it doing what I’m passionate about and impacting people’s lives in a positive way. In business, that means guiding people home to spaces that truly inspire and make them happy. At the end of the day, if I have empowered others to feel comfortable, successful and inspired in their own home, then that is the best reward of all.

Could you share any tips to aspiring entrepreneurs?

Visualize success. I’m a big believer in journaling and the power of visualization. I often journal about my movie where I am the star of the show. What does it look like, who is around me, what does it feel like, getting very descriptive as to what the story of my movie is. I focus on the “what first” – the “how” will come.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

One of the most challenging periods in my entrepreneurial journey with Aruna Revolution was during the development of our 100% compostable menstrual pad. The journey was fraught with obstacles, from technical setbacks in the lab to securing the necessary funding to bring the product to market. There were moments when it seemed the project was too ambitious, and everyone kept suggesting we settle for a less sustainable and healthy solution. However, I was deeply committed to the vision of creating a product that was not only good for the body but also good for the planet. I persevered through countless late nights, rejections, and with a brilliant team by my side. I sought out mentors, re-evaluated strategies, and kept pushing forward, driven by the belief that the world needed this innovation. The outcome was the successful development of our compostable menstrual pad, which has since gained significant interest and traction in the market. The experience taught me the power of resilience – how crucial it is to stay committed to your vision, even when the odds seem stacked against you. It reinforced the importance of adaptability, learning from failures, and never losing sight of the bigger picture. This journey has shaped me as a leader, instilling a deep sense of determination that I carry into every new challenge.

What motivates you?

What motivates me is the desire to create a positive impact on the world, both for people and the planet. I’m driven by the idea that business can be a force for good and that we can innovate in ways that not only solve problems but do so sustainably. Knowing that our work at Aruna Revolution helps to reduce waste, empower women, and challenge the status quo in the menstrual health industry keeps me going, even when the challenges are tough. I’m also motivated by the opportunity to pave the way for future generations, proving that it’s possible to build a profitable, impactful business without compromising our values or the environment.

Could you share any tips to aspiring entrepreneurs?

If you’ve got an idea, just start – don’t wait for a “perfect” opportunity to start. Also, use your idea to build up a network around you, and don’t be afraid to lean on that network.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

I have many examples from life where I didn’t give up, for better or worse – not only as an entrepreneur. For instance, I broke a finger while running a marathon and still managed to finish the race. This experience, along with others, taught me that I can be very resilient and handle the challenges and rollercoaster of owning a business.

What motivates you?

Creation and problem solving to innovate something from nothing.

Could you share any tips to aspiring entrepreneurs?

Get a job – it’s usually easier! Or find something that you could be extremely passionate about.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

When I founded MotivBase, we set out to revolutionize how consumer insights were gathered using big data and cultural anthropology. But it wasn’t just the market we had to convince; it was the professionals themselves, who were deeply entrenched in a traditional vendor-led model. We were asking them to take more control over their research process, and that resistance made it incredibly tough to raise money. Investors were skeptical, seeing the resistance we faced, and as a result, we struggled—struggled, struggled, and struggled some more—to secure funding. Ultimately, this challenge forced us to bootstrap the company. It wasn’t the path we initially envisioned, but it turned out to be the best decision we made. We persevered, stayed true to our vision, and built a product that set a new standard in the industry. By the time we exited in 2022 with a 10x revenue multiplier, we had fundamentally changed how insights professionals approached their work. The experience taught me that true resilience isn’t just about enduring hardship; it’s about picking the hardship you’re willing to endure. Your willingness has to connect to your underlying purpose as an entrepreneur because that purpose is what fuels your ability to keep going. For us, the purpose was clear: to change the way the industry thought and worked, no matter how tough the road ahead. That purpose made all the difference.

What motivates you?

It’s sIt’s simple: purpose and the impact it has on others. I’m driven by the idea that what I do can fundamentally change the way people think, work, and interact with the world. Throughout my journey, whether it was building MotivBase or launching new ventures, the common thread has always been the desire to create something meaningful. For me, it’s not just about the numbers or the success; it’s about solving real problems, challenging the status quo, and bringing new perspectives to the table. I’m motivated by the opportunity to take big, complex ideas and make them accessible, to turn concepts into something that not only works but makes a difference. That’s why I’ve always been drawn to the intersection of business and anthropology – it’s where we can really dig into understanding human behavior and then use those insights to build products and businesses that resonate on a deeper level.

Could you share any tips to aspiring entrepreneurs?

If there’s one piece of advice I’d give to aspiring entrepreneurs, it’s this: focus on building a profitable business from day one. Forget about the Silicon Valley playbook that glorifies raising rounds of funding as a measure of success. The truth is, that model doesn’t work for most companies anymore, and chasing it can lead you down a path that’s more about fundraising than building a sustainable business. Stop distracting yourself with trying to raise money. If you want to raise capital, that’s fine, but don’t turn it into your full-time job. If you can’t figure out how to make your business profitable now, what makes you think you’ll suddenly be able to do it later when the stakes are even higher? There’s a reason why the Silicon Valley approach is falling out of favor. Too many entrepreneurs get caught in the trap of chasing valuations instead of focusing on the fundamentals. Don’t fall into that trap. Your goal should be to create real value – something that your customers are willing to pay for. When you do that, profitability becomes a natural outcome, and with it, the freedom to control your own destiny.

As an entrepreneur, what’s your best example of a time when you were resilient, perseverant, or endured? What was the outcome? What did you learn?

As challenging as the startup phase is, the growth phase is even more challenging. With a revenue and target customer profile in hand that worked well, I had to do a lot of rework in operations and efficiency for how support was delivered to the customers. This required significant rework, imagination, and unlearning some habits I had developed from my previous employment roles. I had to analyze and break down all aspects of operations, review them individually, document the process needs, and structure the organization to incorporate support from new employees and service providers. The processes continue to improve and grow with the business needs, and so do I.

What motivates you?

Being able to help others through my business. I have the pleasure of working with individuals who have great vision and goals, especially those connected to the community and environment.

Could you share any tips to aspiring entrepreneurs?

Always show up with a learning mindset. Entrepreneurship requires us to wear many hats and grow personally as a leader to keep up with the growth of the business and your vision.