Entrepreneurial resilience is not just about endurance; it’s about navigating uncertainty, failure, and reinvention while staying true to one’s purpose. Some founders give up at the first sign of trouble. Others push forward, adapt, and emerge stronger.

During a recent episode of Academy On Call, 1% Advisory and Coaching founder and Fave co-founder Chen Chow Yeoh shared his framework for resilience, built around four key pillars:

1. The Entrepreneur’s “Why”: The deep, personal connection that keeps an entrepreneur going
2. Bias Toward Action: The ability to execute and move forward instead of overthinking
3. Adaptability: The mindset to pivot, problem-solve, and overcome obstacles
4. Relevance: Staying ahead of market shifts and technological disruptions

To bring these principles to life, we explore real founder stories that illustrate each pillar in action, from those who have built fintech at the front lines of innovation and economic transformation in emerging markets.

The Four Pillars of Entrepreneurial Resilience

The Entrepreneur’s “Why”: The Foundation of Long-Term Endurance

Many founders start businesses, but few stay the course when things get tough. The stronger the “Why,” the more resilient the entrepreneur.

Story: Yanan Wu, CEO & Co-Founder of Surfin

For Yanan Wu, the journey to building Surfin wasn’t just about business—it was about financial inclusion and empowering the underbanked in emerging markets.

Yanan’s career started in nuclear physics, working at Los Alamos National Lab in New Mexico, where he used supercomputers to model physical phenomena.

Later, he transitioned to Wall Street, using data-driven models to manage billions in capital markets, handling investments in bonds, equities, currencies, and derivatives. His experience in Canada’s second-largest bank and leading Asian securities firms exposed him to the inefficiencies of traditional financial systems.

With the rise of AI and big data, Yanan saw an opportunity to revolutionize financial services.

Surfin was founded to harness AI to deliver more inclusive financial services.

His belief is that traditional financial institutions must evolve—banks of the future will no longer be physical spaces but API-driven platforms that seamlessly integrate into users’ financial lives.

His mission was further reinforced during a trip to Kenya, where he met a young mother selling handmade scarves to support her baby. She told him, “If you buy one more scarf, maybe I can buy one more bottle of milk for my baby.” That moment solidified his belief that technology, no matter how advanced, must serve real human needs. The “why” is best rooted in making lives better, and not a particular solution or technology per se (building for the sake of building).

Check out our podcast with Yanan Wu:

As a founder, your Why determines:

• Whether you will keep going when things get hard
• If you’re willing to invest years into solving a problem
• How deeply connected you are to the mission

Evaluate Your “Why”:

• Do you have a personal stake in the problem you’re solving?
• Would you continue working on this for years without immediate rewards?
• If your business failed today, would you still fight to rebuild it?

Bias Toward Action: The Ability to Execute

Resilient founders don’t just think—they do. Ideas are cheap; execution is what separates winners from dreamers.

Story: Greg Krasnov, CEO & Founder of Tonik

For Greg Krasnov, launching Tonik, Southeast Asia’s first digital-only bank, required more than just a vision—it demanded relentless execution, a deep understanding of financial markets, and the ability to work hand-in-hand with regulators to shape the future of banking.

Greg’s journey began with his experience at Platinum Bank, where he learned the foundational business model of banking: raise deposits, lend those deposits, and make a profit on the loan products.

This knowledge became invaluable when he moved to Southeast Asia and recognized that digital credit inclusion faced major structural barriers—particularly in the Philippines, where scalable lending needed a direct source of deposits from the market itself.

During his time helping incubate a lending startup in the Philippines, he realized that banks weren’t willing to lend to non-bank fintechs at the scale required to drive financial inclusion. While family offices could provide small credit lines, the high costs made scaling a loan book nearly impossible. To break this cycle, Greg knew he had to secure a full banking license.

He engaged the Bangko Sentral ng Pilipinas (BSP) early on and positioned Tonik as the sandbox for a new type of digital bank license. His proposal was simple but game-changing: create a purely digital bank that could both collect deposits and lend digitally.

His persistence led to an unprecedented partnership with the central bank, where Tonik was granted a special rural banking license to operate as a fully digital institution. The BSP worked alongside Greg’s team to develop the regulatory framework for digital banking, making Tonik the first officially licensed digital bank in the Philippines.

Beyond securing regulatory approval, this bias toward action also built trust among early investors and employees. If regulators were willing to bet on Greg and his team, why wouldn’t they? Being first didn’t just mean bragging rights—it meant setting the standard for digital banking in the country.

Learn more in our documentary with Greg Krasnov:

Evaluate Your Action Bias:

• Do you take immediate steps after learning something new?
• Are you willing to launch before you feel ready?
• Do you actively engage key stakeholders to shape the future of your industry?

Adaptability: The Willingness to Pivot and Solve Problems

Resilient entrepreneurs don’t cling to one idea, one strategy, or one path. When things don’t work, they pivot, adapt, and find new ways to succeed.

Story: Hendra Kwik, CEO & Co-Founder of Fazz

For Hendra Kwik, building Fazz (formerly PayFazz) meant navigating a fragmented financial landscape in Southeast Asia, where digital payments, banking infrastructure, and credit access were unevenly distributed across markets. While many startups focused on direct-to-consumer fintech solutions, PayFazz initially aimed to bring digital financial services to the unbanked and underbanked populations of Indonesia.

However, their path was anything but straightforward. Successive challenges forced them to rethink their approach at every stage of growth.

Shortly after launch, PayFazz faced a major roadblock—larger competitors began blocking their access to critical infrastructure, threatening their ability to serve end users directly. Instead of giving up, Hendra and his team pivoted: rather than focusing on consumers, they shifted their business model to serve merchants instead. By working with small businesses as financial access points, they built a vast agent network that allowed them to scale rapidly despite the early setbacks.

They also faced fundraising challenges early on, but Hendra did not let the lack of interest back then in Indonesia stop him. He found a supporter in Tianwei Liu who helped him navigate the Singapore venture scene and unlocked Payfazz’s first round of funding.

As Payfazz expanded, the next challenge was unlocking regional growth beyond Indonesia. Recognizing the need for a stronger presence across Southeast Asia, PayFazz made a strategic move—partnering with Xfers to form Fazz. This merger combined Xfers’ regulatory (in Singapore) and technological expertise with PayFazz’s distribution network and regulatory experience (in Indonesia), creating a more robust platform that could support businesses across multiple markets.

But adaptability doesn’t stop there.

Today, to bridge the gap between regional financial infrastructure and local market needs, Fazz is building new ways to integrate Xfers’ technology—most notably applied in StraitsX (a stablecoin payment infrastructure)—with its existing merchant distribution network and financial services in Indonesia. This led to the recent launch of a consumer-facing app, allowing users to seamlessly access a range of financial products.

Evaluate Your Adaptability:

• Do you embrace feedback and market signals, even when they challenge your original idea?
• Are you willing to pivot when something isn’t working?
• Can you stay calm and strategic when faced with setbacks?

Evaluate Your Adaptability:

• Do you embrace feedback and market signals, even when they challenge your original idea?
• Are you willing to pivot when something isn’t working?
• Can you stay calm and strategic when faced with setbacks?

Hendra’s journey shows that the most resilient entrepreneurs aren’t attached to their first idea—they are committed to solving the problem in whatever way works best.

Relevance: Staying Ahead of Change

The world is evolving rapidly. Entrepreneurs who don’t stay ahead of market trends and technological shifts risk becoming obsolete.

Story: Huy Nghiem, CEO & Founder of Finhay

For Huy Nghiem, launching Finhay—Vietnam’s leading wealth management and digital investment platform—meant navigating a rapidly shifting financial landscape.

In their acquisition of a securities firm in 2022, Finhay was not catching up to change but instead creating new standards for it as the first-of-its-kind licensed fintech in the retail investment space.

Finhay has continued to push the frontier of digital investment, leveraging Gen AI to improve their user experience and developing market leading data services for institutional investors.

Final Thoughts: Resilience is a choice

Entrepreneurs like Yanan Wu, Greg Krasnov, Hendra Kwik, and Huy Nghiem prove that resilience is a choice.

• If your Why is strong, you will push through failures.
• If you take immediate action, you will outpace competitors.
• If you adapt quickly, you will overcome challenges.
• If you stay relevant, you will never be left behind.

Resilience is not about avoiding obstacles—it’s about thriving despite them.

Take action today. Strengthen your “Why.” Execute faster. Adapt when needed. Stay ahead of change. The future belongs to those who refuse to quit. 🚀

Entrepreneurial Resilience Index (ERI)

This Entrepreneurial Resilience Index (ERI) is designed to help professionals evaluate their resilience in entrepreneurship based on the four key factors:

1.The Entrepreneur’s “Why” – The strength of purpose behind your entrepreneurial journey

2.Bias Towards Action – Your tendency to take action rather than just consume knowledge

3.Adaptability – Your ability to pivot, problem-solve, and embrace new approaches

4.Relevance – Your commitment to staying ahead in an evolving landscape

Scoring System:

For each factor, rate yourself on a scale from 1 to 5, where:

• 1 = Strongly Disagree

• 2 = Disagree

• 3 = Neutral

• 4 = Agree

• 5 = Strongly Agree

Section 1: The Entrepreneur’s “Why” (Max: 35 points). Multiply your total ratings for each statement (max 25) by 1.4.

• I have a deep personal connection to the problem I am solving.
• My motivation for pursuing entrepreneurship goes beyond money or fame.
• I am willing to persist for years, even through failures, to make an impact.
• The problem I am solving is meaningful to me and to others.
• Even in tough times, I can remind myself why I started and keep going.

➡ Total Score for “Why” (out of 35):

Section 2: Bias Towards Action (Max: 5 points). Divide your total ratings for each statement (max 25) by 5.

• After learning something new, I apply it rather than just thinking about it.
• I take consistent action towards my entrepreneurial goals, even in uncertainty.
• I experiment and test ideas quickly, instead of waiting for the perfect moment.
• I set specific, actionable goals and follow through with execution.
• I surround myself with doers who inspire me to act rather than just discuss.

➡ Total Score for Bias Towards Action (out of 5):

Section 3: Adaptability (Max: 5 points). Divide your total ratings for each statement (max 5) by 5.

• When faced with obstacles, I find alternative solutions rather than giving up.
• I am comfortable making pivots when things aren’t working.
• I embrace feedback, even if it challenges my original vision.
• I am open to learning new skills if they help me adapt to change.
• I have a growth mindset and see failures as learning experiences.

➡ Total Score for Adaptability (out of 5):

Section 4: Relevance (Max: 5 points). Divide your total ratings for each statement (max 5) by 5.

• I actively stay updated on industry trends, technology, and market shifts.
• I experiment with new tools and innovations to remain competitive.
• I invest in continuous learning to ensure my skills remain valuable.
• I regularly network with experts, founders, and innovators to gain insights.
• I am aware of how my industry is evolving and adjust my approach accordingly.

➡ Total Score for Relevance (out of 25):

Final Score and Interpretation:

➡ Total ERI Score:

Interpretation of Your Score:

• 40 – 50: Highly Resilient Entrepreneur – You have a strong entrepreneurial mindset and can navigate uncertainty, execute ideas, and stay relevant.
• 30 – 39: Resilient but Needs Refinement – You have resilience but may need to strengthen action-taking, adaptability, or industry relevance.
• 20 – 29: Moderate Resilience – You may struggle with consistency, adaptability, or motivation. Identifying your weak points can help.
• Below 20: At Risk of Burnout or Stagnation – Entrepreneurship might feel overwhelming. Strengthening your “Why” and action-taking could improve your resilience.

This Entrepreneurial Resilience Index (ERI) can be used as a self-assessment tool to identify areas of strength and areas for improvement. Would you like me to convert this into a visual chart or an interactive questionnaire? 🚀