The business world is inevitably uncertain, and it always will be.
Uncertainty is one of the key reasons why most CEOs drop out of the business game or refuse to play entirely.
However, when everything is uncertain, anything is possible!
When I say anything, I mean anything- good, bad, and everything in between.
Unfortunately, most CEOs think of uncertainty and automatically think of the worst.
As a result, they miss out on the extreme advantages uncertainty creates to grow their business.
To help CEOs like you never miss out on the advantages of uncertainty, I am sharing how to use it to grow your business!
Uncertainty will inevitably overpower you unless you take control of it first.
By that, I mean uncertainty will:
- Overpower your decision-making
- Create endless anxiety
- Cause negative business growth
Uncertainty is inevitable; will you control it or let it control you?
How Uncertainty Affects Most Business Owners
Nobody likes uncertainty.
Even though nobody likes uncertainty, not everybody reacts to it similarly.
Some people allow uncertainty to get the best of them, while others use it to their advantage.
Unfortunately, most CEOs allow uncertainty to get the best of them.
As a result, their business crashes and burns while they feel constantly anxious.
That said, here is how uncertainty gets the best of business owners.
They Start Operating Out of Fear
First, uncertainty elicits an emotional response from CEOs.
Instead of operating out of logic, they suddenly start functioning out of emotions.
Specifically, they function out of fear.
Nothing good happens when a CEO operates out of emotions, particularly fear!
You cannot run your business out of fear. When you start operating out of fear, you make irrational, worst-case scenario decisions.
Fear Manifests Into a Worst-Case-Scenario Mindset
Imagine I told you I do not fly on airplanes because I am afraid of crashing.
Even though the odds of crashing in a plane are significantly lower than in a car, I still do not fly.
Would you think I am being rational or irrationally operating out of fear?
Of course, I am operating out of fear.
The moment you begin operating out of fear is when you develop a worst-case scenario mindset.
People who operate on a worst-case scenario basis are the people who never start a business because they do not want to risk losing things.
They are similar to those who never invest money in the stock market out of fear of a recession.
Moreover, operating on a worst-case scenario mindset prevents you from taking any potential risk.
Do you think you can run a business without ever taking a risk?
Ultimately, They Sabotage Themselves
Ultimately, CEOs sabotage themselves.
It is not uncertainty that crushes them, but their emotional response to uncertainty!
Moreover, CEOs react to uncertainty with fear.
Once they operate out of fear, they develop a worst-case scenario mindset.
Thanks to a worst-case scenario mindset, they never take the necessary risks to run a business.
They go around shaking their fist at the world instead of themselves.
As a result, they doom themselves to continue making the same mistakes.
How to Handle Uncertainty as a Business Owner
You will never not face uncertainty as a business owner. It is a natural and inevitable part of the territory.
Therefore, you should stop trying to prevent uncertainty and start building strength to defend yourself.
Specifically, building up strength to prevent responding emotionally to uncertainty.
Remember, it is the response to uncertainty that kills CEOs!
Uncertainty itself is not the problem. Instead, the response to uncertainty is the problem.
That said, here is how to handle uncertainty by preventing yourself from reacting emotionally to it.
Start By Being Grateful for Uncertainty
First, start by being grateful for uncertainty.
Yes, I said by being grateful for it!
Here is the thing: If you are a business owner who feels uncertain, you are blessed.
While you have fought for your business, the fact that you have the opportunity to run a business means you are very blessed.
Millions of people struggle to get the daily basics of food, water, and shelter; remind yourself that you are blessed to have these basic necessities and the chance to run a business.
When uncertainty strikes, it is easy to feel bad for yourself and see yourself as a victim.
Therefore, remind yourself how blessed you are when uncertainty strikes.
Building A Strong Character Is Your Best Defense Against Uncertainty
From now on, think of having a solid character as your shield and armor protecting you from uncertainty.
Ultimately, the quality of your character is your best defense against uncertainty.
Most people believe that having an education and a strong network is the best way to defend themselves from uncertainty.
While education and network are essential, they do not matter unless you have a solid character.
Having a solid character means you are in control of your emotions.
When you control your emotions, you are the master of your actions.
The Stoic philosopher, Epictetus, said, “No man is free who is not master of himself”.
That said, focus on building a solid character by mastering your emotions.
The next time something scary happens, stop and choose your response before emotions decide for you.
While everybody is told in elementary school to stop and think before making a decision, few people ever apply that advice!
9 to 5 Life Is Just as Uncertain as Business Owner Life
When uncertainty strikes, many business owners think about the days they worked nine to five.
Working the grind felt significantly more secure than running a business; as an employee, you feel as if you are guaranteed a paycheck and healthcare.
On the other hand, a guaranteed paycheck or healthcare does not exist as a business owner.
When you start to feel this way, remind yourself that working nine to five is just as uncertain as being a business owner.
Even though working the grind feels secure, that does not necessarily ring true.
Do not let the supposed certainty of nine to five life pull you away from being a business owner!
Remember, uncertainty is just as inevitable in the nine-to-five world as in the business world.
Uncertainty Is the Price You Pay to Play
Finally, remind yourself that there is a price to pay for being a business owner.
Many people want to run a business, but most never do because they do not want to pay the price.
Therefore, you must constantly remind yourself that high uncertainty is the price you pay to play the business owner game.
There is no such thing as something for nothing!
You cannot get the privilege of being a business owner without paying the price of it.
Do you want to be in the ring or on the sidelines?
Costs are associated with everything; you can pay the price of being in the ring or on the sidelines.
Which will you choose?
How to Use Business Uncertainty as an Advantage to Grow
By this point, you understand that uncertainty is an inevitable piece of the business owner game.
However, what if I told you that uncertainty is your most powerful business advantage?
What if I told you that uncertainty is a tool you can use to grow your business more than ever?
The truth is that uncertainty can play to your advantage. That is if you harness its power!
Before harnessing its power, start by controlling your emotional response to uncertainty.
Then, harness its power to grow your business more than ever before.
It is a simple equation that can make all the difference in your life.
Here is why uncertainty is business power and how to take advantage of it to grow your business:
Your Customers Are Equally Uncertain About the World
Your potential customers feel the stress of uncertainty just as much as you do.
When people are uncertain about the world, they look for means of security.
Security helps ease the mental and emotional pain of uncertainty.
Allowing customers to have extra cash is the single-best way to make them feel secure.
Extra cash = a feeling of security.
Even though cash cannot save you, it does provide a sense of security.
That said, your best growth opportunity lies in the fact that potential customers are looking for extra cash to feel a sense of security!
You have an advantage if you show customers that your deliverable will either help bring in extra cash or save it.
The Solution to Uncertainty Is Security
You might think your product or service is not necessarily a means of bringing in extra cash.
Perhaps you sell marketing services and see them as a means to increase social media traffic.
Or, perhaps you sell a CRM product that helps optimize sales processes.
Regardless of what you sell, ANY product or service can sell as a means of providing security.
Moreover, it does not matter what you sell!
You can pitch any product or service on the market as a way to provide security.
Pitch Your Product or Service as a Form of Security
As I said, any product or service can serve as a means to provide security.
However, most business owners and sales professionals do not sell their deliverables as a means of security.
Instead, they sell deliverables as if they are liabilities.
Do you think a potential customer will buy your product or service if they see it as a liability?
Of course not.
You need to pitch your product or service like an absolute boss!
You must show them that your product or service is a means of providing security.
Additionally, you must show customers that they need security to protect themselves in the future.
As I said, any deliverable can serve as a means of security.
But, most people do not know how to frame pitches this way.
Therefore, taking full advantage of uncertainty is a matter of selling better than ever before.
If you harness the selling power of uncertainty, you will grow your business more than ever.
Be the Optimist Your Customers Need
When everything is uncertain, anything is possible.
Even though anything is possible when conditions are uncertain, most people default to a worst-case scenario mindset.
Instead of the positives that can come out of uncertainty, they automatically think of the negatives.
While your customers are defaulting to the worst, you have an opportunity to be the optimist who they need to hear.
While everybody else is being pessimistic, you can be the optimist.
Be the optimist everybody needs and wants to hear when times are uncertain.
When your competitors are Negative Nancies, you can be the person who brings light to a situation.
Economic Recessions: The Height of Uncertainty and Opportunity
While the business world is always uncertain, it reaches its height during economic recessions.
During challenging economic times, your potential customers begin to panic; suddenly, they feel they are on shaky ground.
They fear they will not have any customers if the economy tanks.
That said, economic recessions are your highest opportunity to seize the power of uncertainty!
When your potential customers are panicking, dive in and be the person who saves them from the harsh situation.
Recessions Are the Best Time to Grow
People have worst-case scenario mindsets even when the economy is performing well.
Just think of how much worse their mindset is when the economy is not performing well!
Therefore, remind yourself that recessions are the single-best opportunity you have to grow your business.
Not only will uncertainty help you grow, but so does the fact that your competitors are jumping out of the game.
Many businesses assume that recessions are a terrible time for selling. They believe customers are unlikely to buy, so they jump out of the game.
While your competitors jump out, you have an even better chance to capture customers!
Give a big thank you to your competitors who are literally leaving the doors open for you to sell.
Thank the uncertainty of a recession even more for giving you the best opportunity to grow your business more than ever.
Final Thoughts on Using Business Uncertainty to Your Advantage
Uncertainty is not the enemy unless you do not take control of it.
If you do not take control, you will respond emotionally. Once you react emotionally, it is game over.
That said, uncertainty is not the enemy people make it out to be.
Will you let it consume you, or will you use it to your advantage?
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