Will ALL Entrepreneurs Please Stay Calm! Actually that is the best state to be in as we do business. We wear many hats and are often so distracted that when yet another unexpected detour occurs we tend to react rather than respond. How can we slow down, pause and take time to respond? Well here are 5 great starting points that can take you a long way in wading through the muck and getting to the solution.
Bad things are going to happen in business. They just are. So we as entrepreneurs have to learn how to deal with them. Often, the difference between having a mediocre organization and an extraordinary one comes down to how we act during these unexpected, challenging times. Your ability to respond, or what I like to call your “response(ability),” will dictate your future success in business. Here are a few tips for how to improve that response.
- Stay Calm – If you’re able to step away and get some space, collect yourself and prepare to deal with the situation with clear thoughts.
- Assess The Risk – Take time to figure out the worst-case scenario. Identifying this will help set the course for your next steps.
- Consult Your Board – A board of directors is a group of three to five people with whom you can consult whenever you’re making a big life or business decision.
- Consult Your Team – As leaders and entrepreneurs, it’s easy to feel as if you need to have all the answers. Great leaders know that other members of their team have valuable perspectives.
- Do Something – The cavalry is not coming. Superman is not going to save the day. It’s your response(ability) to solve this problem. So, after consulting your board and your team, decide to respond.
Go Forth Brave Entrepreneur. Be Calm, Assess the Risks, Consult with Others and Do Something! Rinse and Repeat. I MUST now go and practice what I preach! 😉
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What responses have worked for the unexpected situations in your business?
