How to stay calm in business in an unstable world 17 03 26

Sadly in the current world, this is very much a “hot topic”, both domestically for individuals & families, but also for many of those same people in the commercial world! It would obviously be wrong to ignore uncertainty, and more about building mindsets that help to manage the situation…so, lets think about the practical approaches used by resilient founders and leaders.

First of all, focus on what you can control, as unstable environments can create anxiety because of the many variables outside of your control.
Think about your cash flow, customer relationships, your product/service quality, the team morale, and operating efficiency…all within your control. Many investors quote the “circle of control” made popular in Stephen Covey…”focus energy only on what you can influence”.

Calm comes from knowing the business can survive turbulence, which will include adequate cash reserves, diversified revenue streams, and a range of suppliers…not having all of your eggs in one basket. Its generally acknowledged, that companies that survived the financial crisis or covid, generally had financial breathing room and adaptable operations…they could swivel quickly!

In uncertain periods, news and social media amplify fear…try not to check the news too often, it can create adverse fears, and look to follow industry specific sources only. Leaders who remain calm typically consume less noise and focus on what’s important!

Aim to make smaller, less over arching decisions. Uncertainty makes big irreversible decisions more risky. Try piloting new ideas and tests, always gathering feedback quickly. This reduces emotional pressure because no single decision will have huge impact.

Try to create a weekly strategic routine…calm comes from structured thinking. This might include…

Consistency of thinking, prevents reactive decision-making. Then on a more personal level, develop your own routines, which might include, daily exercise, even considering walking meetings, meditation, and breathwork.

None of the outside world defines you…make sure that you develop the right habits, to allow to define the outside world.