Single Blog Post

02

October

How to Manage Your Uncertainty

Last week I was making my rounds with several clients, each involved in the alternative energy space.

A couple of the companies are doing extremely well, with one successfully raising a round of capital.  One is struggling.

Even so, they are all concerned with the incredible uncertainty in the alternative energy space.

Not only because of 104 degree temperature we had on Friday in New York (112 with the heat index), and what that means in the realm of global warming, but also because of the uncertainty with government regulations, corporate and consumer acceptance of alternative energy solutions, and the challenge of integrating all the moving parts into the smart grid, to name just a few.

Because of all this, each of my clients are stressing out.  They are working hard to get their company into a better position.

I told them all the same thing:  “Uncertainty is your friend. Embrace it.”

Why embrace uncertainty?

When you are uncertain, you tend to open yourself up to possibilities, to feedback and guidance.  Alternatively, when you feel you know what you are doing, you tend to shut out the outside flow of opportunities and experience.

Being open is exactly what your business needs, no matter what industry you are in and the experience you have.

Steps for Leveraging Uncertainty to Your Advantage:

1)   Declare what you want— create that UnReasonable goal (one that is outside your comfort zone and really gets you excited) that comes from your passion.  The one you truly want.  Use that to move yourself forward. For example, “NYC needs to stop relying on fossil fuels.  I want to take NYC off the grid!”

2)   Make it specific and measureable— with clear and certain guidelines in place, your mind can focus on what needs to happen to move through the uncertainty as it shows up.  It also reduces or eliminates the inner “chatter” of fear and procrastination.  In our example, specific and measurable would look something like “By 2025, NYC will be 60% powered through solar, wind, hydro and geothermal.”

3)   Admit you’re uncertain— out loud and to others.  This creates an energy and openness to have solutions come your way.  Others will be encouraged to step up and help you move forward.  Leaders are honest with their stakeholders, and their team appreciates that.

4)   Let go of the fear— remember no major accomplishments in history were achieved through certainty.  When that voice in your head tells you to watch out and fear creeps in, as it always will, tell yourself, “thanks for sharing, now get out of the way because I have work to do!”

5)   Build your team— use your UnReasonable goal you are passionate about to enroll others to join you.  Why a team?  Because you are only as powerful/successful as the team you create around yourself.

6)   Focus on what’s working— keep your eye on the ball.  Not on what is wrong with what you are doing.  Be responsible, of course, but stay focused on the goal you are setting out to achieve.

7)   Celebrate your wins— along the way, to keep everyone moving forward and energy high, you need to enjoy the process.  If fear creeps in, it’ll suck the energy from your team quickly.

Just know that as an entrepreneur uncertainty will always be with you.

Remember, as your company grows, so too will your uncertainties.  And what you are dealing with now will just have extra zero’s next to them as you expand.

Out of all the successful entrepreneurs I have met and/or studied, all of them manage uncertainty very well.

In fact, they thrive in it.

 

Action Steps for the Week:

Where are you holding back because you’re not sure of the way forward?

You know which thing I am referring to!

Yes, that one you have been holding off on dealing with.  “It’s not the right time”, “Let’s wait until the economy is back on its feat”, “Perhaps we’ll reconsider this in the fall”, and so on.

Take that goal and look at what is holding you back.  Be honest with yourself.  Because if you are not, you will get more of the same results.

Next, do the following:

1)   Declare you are uncertain.

2)   Make sure you then create an UnReasonable goal.

3)   Define a specific and measurable outcome to your goal.  Make sure it has a “what, by when” component that you can focus on.

4)   Answer: Who do you need on your team to make this happen?  Or how to you inspire your existing team to accomplish this goal?  Remember to leverage your UnReasonable goal using your passion.

5)   Create a short time line for the goal’s first steps to be accomplished.

6)   Have an accountability structure in place to make sure you stay focused on making it a reality.  Mentors, board of advisors, a business coach, etc.

7)   Have a blast along the way.  When you aLast week I was making my rounds with several clients, each involved in the alternative energy space.

A couple of the companies are doing extremely well, with one successfully raising a round of capital.  One is struggling.

Even so, they are all concerned with the incredible uncertainty in the alternative energy space.

Not only because of 104 degree temperature we had on Friday in New York (112 with the heat index), and what that means in the realm of global warming, but also because of the uncertainty with government regulations, corporate and consumer acceptance of alternative energy solutions, and the challenge of integrating all the moving parts into the smart grid, to name just a few.

Because of all this, each of my clients are stressing out.  They are working hard to get their company into a better position.

I told them all the same thing:  “Uncertainty is your friend. Embrace it.”

Why embrace uncertainty?

When you are uncertain, you tend to open yourself up to possibilities, to feedback and guidance.  Alternatively, when you feel you know what you are doing, you tend to shut out the outside flow of opportunities and experience.

Being open is exactly what your business needs, no matter what industry you are in and the experience you have.

Steps for Leveraging Uncertainty to Your Advantage:

1)   Declare what you want— create that UnReasonable goal (one that is outside your comfort zone and really gets you excited) that comes from your passion.  The one you truly want.  Use that to move yourself forward. For example, “NYC needs to stop relying on fossil fuels.  I want to take NYC off the grid!”

2)   Make it specific and measureable— with clear and certain guidelines in place, your mind can focus on what needs to happen to move through the uncertainty as it shows up.  It also reduces or eliminates the inner “chatter” of fear and procrastination.  In our example, specific and measurable would look something like “By 2025, NYC will be 60% powered through solar, wind, hydro and geothermal.”

3)   Admit you’re uncertain— out loud and to others.  This creates an energy and openness to have solutions come your way.  Others will be encouraged to step up and help you move forward.  Leaders are honest with their stakeholders, and their team appreciates that.

4)   Let go of the fear— remember no major accomplishments in history were achieved through certainty.  When that voice in your head tells you to watch out and fear creeps in, as it always will, tell yourself, “thanks for sharing, now get out of the way because I have work to do!”

5)   Build your team— use your UnReasonable goal you are passionate about to enroll others to join you.  Why a team?  Because you are only as powerful/successful as the team you create around yourself.

6)   Focus on what’s working— keep your eye on the ball.  Not on what is wrong with what you are doing.  Be responsible, of course, but stay focused on the goal you are setting out to achieve.

7)   Celebrate your wins— along the way, to keep everyone moving forward and energy high, you need to enjoy the process.  If fear creeps in, it’ll suck the energy from your team quickly.

Just know that as an entrepreneur uncertainty will always be with you.

Remember, as your company grows, so too will your uncertainties.  And what you are dealing with now will just have extra zero’s next to them as you expand.

Out of all the successful entrepreneurs I have met and/or studied, all of them manage uncertainty very well.

In fact, they thrive in it.

 

Action Steps for the Week:

Where are you holding back because you’re not sure of the way forward?

You know which thing I am referring to!

Yes, that one you have been holding off on dealing with.  “It’s not the right time”, “Let’s wait until the economy is back on its feat”, “Perhaps we’ll reconsider this in the fall”, and so on.

Take that goal and look at what is holding you back.  Be honest with yourself.  Because if you are not, you will get more of the same results.

Next, do the following:

1)   Declare you are uncertain.

2)   Make sure you then create an UnReasonable goal.

3)   Define a specific and measurable outcome to your goal.  Make sure it has a “what, by when” component that you can focus on.

4)   Answer: Who do you need on your team to make this happen?  Or how to you inspire your existing team to accomplish this goal?  Remember to leverage your UnReasonable goal using your passion.

5)   Create a short time line for the goal’s first steps to be accomplished.

6)   Have an accountability structure in place to make sure you stay focused on making it a reality.  Mentors, board of advisors, a business coach, etc.

7)   Have a blast along the way.  When you and your team are having fun, you are much more likely to accomplish your UnReasonable goal.

Just know uncertainty will constantly creep up.  Because of this, most entrepreneurs cannot do this successfully on their own.

Just make sure you have your support in place when this happens.

Because when you do, you’ll then be blown away with the results.

 nd your team are having fun, you are much more likely to accomplish your UnReasonable goal.

Just know uncertainty will constantly creep up.  Because of this, most entrepreneurs cannot do this successfully on their own.

Just make sure you have your support in place when this happens.

Because when you do, you’ll then be blown away with the results.

 

0 Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.