Entrepreneurship

Entrepreneurs: How to Deal with Uncertainty

uncertainty

If there is one skill entrepreneurs need to learn, it's how to deal with uncertainty. We cannot precisely predict the future, so we can't plan without a few glitches, and we can't predict anything until it becomes a reality. This is why we have to create strategies for success, but ensure we're creating adaptable plans for when the universe throws her inevitable curve balls at us.

1. Planning is Life

We can't predict the future, but we can plan for every type of scenario to help us react quickly and effectively to almost every situation.

2. Check your Circle

Eliminate anyone toxic from your personal life or business. Surround yourself with people who are smarter than you. You'll learn from them, evolve as an entrepreneur, and be consistently inspired. Build a team who radiate strength in areas where you are weak, and ensure they're a good culture fit for your mission and company values.

3. Share the Risk

Pre-sell products or services for limited-time offers to test markets and alleviate some of the financial burdens. Or, post your new venture on crowdfunding sites. Letting others take the risk is a strong power play.

4. Think Outside the Box

You don't always have to reinvent the wheel. Sometimes you just need to do things differently to your competitors. Find solutions to common problems shared by your target audience, and market it in a different way to everyone else.

How do you deal with entrepreneurial uncertainty? Tweet me @lorenridinger.