What does “running a business” actually mean? Contrary to what most people think, being a boss is not ordering people around like some drill sergeant. Instead, it’s mainly about finding and solving problems to make the business better. Some entrepreneurs don’t see business in this way. Instead, they put their business problems into two categories: those that they knew that they had to solve and those which were unexpected. Entrepreneurs need to expect the unexpected, but all too often they react differently to problems that seem to come out of nowhere. This then sends them into an emotional tailspin, and they can wind up losing focus and perspective.
The following is some advice on what not to do when your business hits a snag. Remember, snags will inevitably happen.
Bury Your Head In The Sand
The worst thing an entrepreneur can do is bury their head in the sand, thinking the problem will go away. Chances are, according to Drew Hendricks of Buttercup, that they won’t. His advice is for entrepreneurs to challenge their problems directly and ruthlessly. In the process, he says, entrepreneurs gain knowledge and experience that helps them deal with similar problems when they next arise.
Think You’re Alone
Entrepreneurs tend to think that they have to be Randian archetypes: people who stand like Colossuses by themselves, unwearied by the passing of time. But the reality is that we’re all human and that we all need a bit of help from time to time.
One of the most common snags that entrepreneurs hit is when they’re trying to expand their business, build new offices or open a new location. Real estate development is tough. The good news, though, says Douglas Hutchings of Picasolar, is that there’s no need to face the problem alone. First of all, he says, there’s every opportunity to approach people who have been in the industry for decades and know exactly how it works. They’ll be able to get the process started and point you in the right direction. And second, he advises that leaders in business find people in their organization that they trust and be open and frank about the situation. It’s bad leadership to try to constantly shield all the stakeholders in a business from the truth of their situation. It prevents both personal and company growth.
Chris Cancialosi of GothamCulture has seen his fair share of CEOs and founders fly off the wall at the slightest issue that comes their way. His advice, however, is not to react badly to a situation. Acting badly sets a bad example for the rest of your team and teaches them to respond similarly to you, which is not something that you want. His advice is to model the behavior you want to see in the people who work with you and if you find yourself going into a rage, to keep a stress ball in your desk drawer.
The bottom line is that businesses almost always hit one sort of snag or another. But so long as you’re making money and have a viable business, snags really aren’t worth losing sleep over.
Image Source – Pixabay