deepstash

Beta

7 Ways to Manage Uncertainty and Growth Simultaneously

Fuel growth while managing uncertainty

Fuel growth while managing uncertainty
  • Prepare for multiple outcomes that are within your control.
  • Refine your business plan. Adjust your strategies to your business’s current situation so you can update your value proposition.
  • Recognize opportunity to grow. 
  • Get quality control in order. Define what "high-quality" means in terms of your company and its offerings. .
  • Have a firm grasp of key financial numbers and other KPIs so you can make the appropriate changes quickly.
  • Diversify your products and services. 
  • Evaluate how you and your team spend your time. It helps you to stay focused on the tasks that can actually grow your business.

333 SAVES


This is a professional note extracted from an online article.

Read more efficiently

Save what inspires you

Remember anything

IDEA EXTRACTED FROM:

7 Ways to Manage Uncertainty and Growth Simultaneously

7 Ways to Manage Uncertainty and Growth Simultaneously

https://www.entrepreneur.com/article/311996

entrepreneur.com

1

Key Idea

Fuel growth while managing uncertainty

  • Prepare for multiple outcomes that are within your control.
  • Refine your business plan. Adjust your strategies to your business’s current situation so you can update your value proposition.
  • Recognize opportunity to grow. 
  • Get quality control in order. Define what "high-quality" means in terms of your company and its offerings. .
  • Have a firm grasp of key financial numbers and other KPIs so you can make the appropriate changes quickly.
  • Diversify your products and services. 
  • Evaluate how you and your team spend your time. It helps you to stay focused on the tasks that can actually grow your business.

EXPLORE MORE AROUND THESE TOPICS:

SIMILAR ARTICLES & IDEAS:

Benefits of a learning culture

During the last recession, companies that invested in their employees, in part by providing the training they needed to move forward in their careers, enjoyed profit gains of 26 percent, compared t...

When hiring, screen for learners
  • Ask about passion projects. Learners tend to pursue something else outside work (training for a marathon, playing with a band, etc.)
  • Focus on curiosity as much as hard skills. Bring up problems currently facing the team and see how the candidate responds.
  • One of the most important things to a learning mindset is the ability to admit you don't know something. So be aware of how they approach the things they don't understand.
Learning as a company policy

This means explicitly defining ongoing learning as a core company value.

Empowering employees can mean providing the time or money to enable learning - in other words, offering learning opportunities as a job benefit like health insurance. 

2 more ideas

Prepare for rejection

Always have a rejection-processing protocol in place. Debrief with personal and professional support people who can empathize and appreciate your experiences without passing judgment, criticizing o...

Find the blessings in rejection

In many cases, rejections are blessings in disguise. Maybe you don't want those customers that rejected your product.

Refer and direct those customers to your competitors that fit their needs. They certainly would not forget the lengths you went to. Such service is rare.

Feed your growth mindset

You might initially doubt yourself, question your competency and your self-worth but after you have weathered the storm, activate your growth mindset and start asking questions: 

What can I do differently? What have I discovered about myself? What changes can I make? What will I do differently next time? 

one more idea

Emotional intelligence when facing uncertainty
Emotional intelligence when facing uncertainty
As we face uncertainty, our brains push us to overreact in a place where emotions, such as anxiety and fear, are generated. And these inhibit good decisio...
Strategies to improve the quality of your decisions
  • Be wary of fear and spot it as soon as it begins to surface.
  • Stay positive. 
  • Know what you know—and what you don’t.
  • Embrace that which you can’t control. 
  • Focus only on what matters. 
  • Don’t seek perfection - it leaves you lamenting what you failed to accomplish instead of enjoying what you were able to achieve.
  • Don’t dwell on problems. Rather focus on actions to better yourself.
  • Recognize when you are overly influenced by your assumptions and emotions or by another person’s opinion.
  • Have a contingency plan without asking "What if?"