Uncertainty is hard to deal with.
Many can admit that at some point in their life they’ve played with fire in order to have some control over taking a risk. The thing that scares us the most is not having control under those kinds of circumstances. These events lead to uncertainty and that leads to the fear of ever taking a risk again.
This attribute to daily life affects business owners more than you know! There’s not much you can do to manage the cause and effect of risks. Fortunately, there are ways you can manage the uncertainty. If you learn how to manage your uncertainty when it comes to the health of your company, it can help you decide whether the risk is worth taking or not.
Learn How To Cope
Learning how to cope with the symptoms of uncertainty is one the best things you can do for your business. This means learning how to control the things you can, and not worrying about the things that you can’t.
regulate how much product you order to sell. You can’t control if you sell every single item.
control prepping your team for the busiest season during the year. You can’t control a pandemic that causes you to lose half your staff.
These examples are not to cause you more stress or anxiety about your current position, they are just to show you how you can cope with your fears in a healthier way. Putting all of your energy and efforts into the things you can control will allow your mind to rest easy when it comes to making decisions about the future of your company.
Change is scary and there is no shame in fearing what change could lead to. However, where there is change, opportunities arise. Restructuring your systems and training your teams to do what they’ve always done comes with its own risks. You could be thinking that you might lose hard-working employees, or that the new system causes you to lose customers. Those fears are valid, but shouldn’t hold you back from making a change. Applying your coping method to get you closer to taking this next step is exactly what you should do.
Besides the mental and emotional side to uncertainty, there are some practical steps to take along the way as well. Before making any decisions, talk to other business owners around you that have done the same thing you’re thinking about doing. Take notes! Ask about all of the ways it affected them and their customers. This can be a huge resource for you. It can lead to you feeling more confident about what needs to take place.
Don’t Give Up
One of the biggest mistakes business owners can make in the midst of uncertainty is waving that white flag of surrender. Accepting that the business world always has its risks is healthy. However, using that mentality when facing all important decisions can be unhealthy. Don’t approach every decision with the idea that “If one thing is uncertain, then all things are uncertain”.
Have you ever heard of the “Go big or go home” lifestyle? It is a very dangerous road to take! It will cause you and your business to take on very risky changes or opportunities. Be sure to keep your head on straight and lead your team well when it comes to approaching these kinds of crossroads. You are not alone! Reach out to one of the many resources you have in your pocket. Lean into those avenues before giving up.
Dealing with uncertainty is not something you will be able to grasp overnight. That’s okay! Every business leader deals with it differently. The fact is, there will always be a risk component in your company. Embracing those risks can be the best thing for your future.