From the course: Executive Leadership
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Resilience
- My friend Gary Palmer is known as the father of the prepaid card, credit cards with preset amounts loaded on them to make specific types of purchases. For example, a $30 gift card for Starbucks. Gary had the original idea long before these cards became widespread, but he was young and inexperienced, so he asked a retired executive to be CEO and help him raise money for the venture. After being told no in every way imaginable he immediately replied, "I understand, "but could I ask you to meet with me for a few short minutes "and share some advice?" Fast forward a few months, this individual, now Gary's CEO, was with him in Silicon Valley raising money and the rest is history. Psychology research shows that people who interpret setbacks as permanent, pervasive, and personal tend to have much more difficulty than those who do the opposite, seeing failures as temporary, specific, and external. Let's illustrate this with how Gary Palmer might have applied each step. It's not permanent…
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