60: Embrace the Chaos: Turning Entrepreneurial Fear into Fuel

[00:00:00] Welcome to Work it, Live it, Own it, the place to be if you're a business owner who is looking to take charge of their personal and professional lives. I'm your hostess, SaCola Lehr, bringing you real talk, practical strategies, and inspiring stories to create life business harmony.

[00:00:15] Navigating the unknown in business is a constant. Running a business, you have constant uncertainties, whether it's shifting market trends, unexpected challenges, or new opportunities. The unknown can be both daunting and exciting.

[00:00:35] But what if, instead of fearing uncertainty, we embraced it as a chance to grow and innovate?

[00:00:44] And in this episode, we're going to explore how shifting your mindset from fear to opportunity can help you navigate uncertainty with confidence.

[00:00:55] We're also going to discuss how embracing the unknown can lead to increased adaptability, a growth mindset, and a more proactive approach to challenges.

[00:01:07] We're also going to talk about the importance of doing your homework, doing that research when you're starting a brand new business or whether you're shifting your business model.

[00:01:18] How to ask yourself and check those check-in questions to find solutions, which strategy is going to be the best fit for you?

[00:01:29] So hang on to your seats and your seatbelts, grab your favorite beverage, because we're going to dive into the embracing the uncertainties in business.

[00:01:40] So, of course, entrepreneurship, running your business is inherently unpredictable.

[00:01:46] No matter how much you plan, there will always be elements that you can't control, whether it's the changing market dynamics, customer behavior, or even global events.

[00:01:59] But it's not the uncertainty itself that determines your success.

[00:02:03] It's how you respond to it.

[00:02:05] And so you can do this by learning to navigate the unknown with an open mind and the willingness to adapt.

[00:02:12] And you can turn uncertainty into a powerful tool for growth and innovation.

[00:02:18] So let's just be real for a minute.

[00:02:22] If you talk to other business owners or if you really reflect within yourself, we have to admit that when we first got started in our business or if you're just starting out on the journey,

[00:02:35] you didn't spend a lot of time, most of us didn't spend a lot of time doing our homework.

[00:02:39] And most entrepreneurs who have multiple businesses have failures too.

[00:02:46] And you know what?

[00:02:47] It doesn't bother them one bit.

[00:02:49] And here's what I mean.

[00:02:52] Because most business owners are usually focused on action and not research.

[00:02:58] And so let me give you an example of what I mean.

[00:03:02] So imagine you're driving down the road at night.

[00:03:07] The headlights of your car are lit up for the next 200 yards on the highway.

[00:03:12] And you could be going 70 miles per hour, which would also, depending on where you are in the world, maybe 112 kilometers.

[00:03:23] And you feel confident that you could maneuver around any obstacles, you can pull off the road or even stop completely within those 200 yards.

[00:03:32] So as long as you can see 200 yards ahead, you feel confident to drive the speed limit in the dark, safe in the knowledge that you can handle anything that shows up in your path.

[00:03:44] Well, running a business is the same.

[00:03:47] Being a business owner, you don't need to know everything that's going on a mile ahead.

[00:03:53] In fact, most of the time, we don't even know what's ahead or what's waiting for us down the road.

[00:04:01] But we can be confident that we can handle anything that shows up in the foreseeable future.

[00:04:09] So how can we do that?

[00:04:11] How can we be confident with anything that shows up?

[00:04:15] So the first thing is the importance of doing our homework.

[00:04:19] Now, for most of us, and I can tell you this, when I first started, I had to do the research.

[00:04:27] I had to figure out what keeps my clients awake at night.

[00:04:31] What are they stressed about?

[00:04:32] What are the things that they're looking for answers for?

[00:04:36] And I felt like I just want to go ahead and get started.

[00:04:39] But I can honestly tell you, I was more confident when I was working with my coaching clients because I was confident in my abilities and myself that I could bring the answers and the solutions to their problems.

[00:04:54] So doing that homework, again, you're going to find obstacles that may present themselves.

[00:05:01] And you may find that if you don't do your homework ahead of time, you could spend way too much money, time, energy, trying to avoid them, but eventually end up succumbing to those same obstacles.

[00:05:15] And then this is where businesses often splutter, they get misfired, or they eventually stop altogether.

[00:05:23] And then you have to go through hindsight, right?

[00:05:27] Hindsight is 20-20.

[00:05:29] But there is benefit in having the hindsight because it's easy to see why some things didn't work as expected.

[00:05:37] So if you only had the opportunity to drive that route that I just talked about at night, but you had the opportunity to drive that same route in the daylight, then you could see everything.

[00:05:48] And if you could have talked to people who traveled the same route as you on a daily basis, that would have given you insight.

[00:05:55] If you had done your homework before you encountered those obstacles, could the business still fail?

[00:06:02] Sure, it could happen.

[00:06:04] Businesses still might fail.

[00:06:06] But look at the time, money, and energy that would have been saved by doing some of that homework.

[00:06:12] So consider this.

[00:06:14] Good entrepreneurs learn very well from their own mistakes.

[00:06:21] Seasoned entrepreneurs learn even better from other people's mistakes.

[00:06:27] So navigating that route, whether it's in the dark, during the broad daylight, can also bring increased adaptability.

[00:06:35] So one of the greatest benefits of embracing uncertainty or the unknown in running a business is when you stop resisting that unknown and start seeing it as a natural part of the business journey.

[00:06:47] You can become more flexible, more resilient, and that adaptability allows you to pivot quickly when things don't go as planned and seize new opportunities when they arise.

[00:06:57] And you can stay ahead of the curve in a rapidly changing business landscape.

[00:07:03] Seeking out experience is also a part of doing your research, doing that homework.

[00:07:08] So some of the best entrepreneurial minds out there who have started their own businesses, they seek out others who have been there and have done that.

[00:07:18] They're always trying to be more efficient, more effective, and quicker in everything that they do.

[00:07:23] They're looking at how they can leverage their business.

[00:07:27] And so for many entrepreneurs, speed is always more appealing because they see other people out there doing this.

[00:07:37] They're so successful and they're like, hey, I want to get to where they are.

[00:07:42] And a lot of times we go out and we want to find that person who made the path and we want to ask them how they did it.

[00:07:50] Now, this can be a bone of contention for other business owners because some who work and operate in a low energy level or operate out of scarcity and lack, they don't want to talk to other business owners or share insights with them.

[00:08:05] Typically because they feel like, well, you're going to try and take what I've got.

[00:08:10] Are you going to try and take my clients?

[00:08:12] I've honestly feel with as many people there are in the world, there's always clients that are going to resonate with you.

[00:08:19] And there are some that will not.

[00:08:21] That is just the reality of life and in business.

[00:08:26] And then there are some people that honestly feel like, hey, what may work for me may not work for you.

[00:08:34] But instead of asking them, hey, what's your blueprint?

[00:08:36] What's your roadmap on how you were able to do this?

[00:08:39] Here are three questions that not only can you ask yourself when you're trying out business ideas, but you can also ask other people.

[00:08:48] When you're talking about how they did it and you want to know what time, how much it took.

[00:08:54] You want to find out the money that's involved or the mistakes that they made.

[00:09:01] So three questions to ask yourself whenever you're trying a new project and asking other people.

[00:09:08] Question number one is how long did it take you to get to this point?

[00:09:11] How much did it cost or how much does it cost you on an annual basis or quarterly basis?

[00:09:18] How much does it cost you for marketing?

[00:09:20] How much revenue are you bringing in versus how much you're spending out?

[00:09:25] Do you have a team to help you with this?

[00:09:27] Another one is the final question I would ask and ask yourself is if you had to do it all over again, what would you do differently?

[00:09:36] This is how you can find out exactly what worked and what didn't work.

[00:09:40] And you can take the best of the tried and true strategies, improve upon them and create a new track for you to run on.

[00:09:47] And always look at it as a new path that you're creating.

[00:09:53] Another thing is you're finding solutions to those questions.

[00:09:59] So one of the best skills that any entrepreneur or business owner can develop is the skill of asking great questions and then listening to the answers.

[00:10:07] Not only will this save you time, money and energy, but you'll also learn and grow in direct proportion to the number and quality of the questions that you ask other business owners.

[00:10:20] Learning how to ask effective questions, even from your clients, can bode very well for you when you're talking to future partners, future clients and people who are likely to endorse you and promote your business.

[00:10:33] So when you engage with someone for the very first time, there is always this temptation to tell, tell, tell.

[00:10:41] However, I want you to focus on ask, ask, ask instead.

[00:10:46] This way you're going to create a more compelling impression and they will never forget you because you made them feel like the most important person in the room.

[00:10:56] So you may say, well, Sokola, which strategy is the best?

[00:11:01] Next, this again goes back to doing your homework.

[00:11:05] Doing your homework means finding out exactly what works and what doesn't.

[00:11:09] However, it's important to be aware that not every strategy works for everyone all the time.

[00:11:14] And that's why sometimes other business owners aren't reticent and they're very slow to tell you their path because it works differently for everyone.

[00:11:23] And the fact that you find some strategies in growing a business, you may find that they don't fit you at all.

[00:11:30] So you always need alternatives that are going to be a good fit for you.

[00:11:35] But here's what you do need to do.

[00:11:38] You do need to be aware of everything that works, even if you're not using that strategy.

[00:11:45] Social media advertising works.

[00:11:49] It does work.

[00:11:51] I've seen people generate income from it.

[00:11:55] But you might also need to find out, okay, that's not my strong suit.

[00:12:01] So you may find yourself you need to collaborate with someone one day and it may turn out to be a beneficial fit and it may turn out to be a poor fit for you and all the strategies.

[00:12:15] But here's what I want you to focus on.

[00:12:18] And believe it or not, guys, this happens more than you think.

[00:12:22] So the essential part of building a business is actually finding techniques that work well for business partners and team members.

[00:12:30] Even if they're the opposite of your own best efforts, you may be an innovator, you may be a creator, but you may need to partner with an implementer, a project manager, someone who can handle the day-to-day tasks for you every single day.

[00:12:45] This is where building an incredibly strong business strategy takes shape.

[00:12:52] So you're playing to your strengths, they're playing to theirs, and you don't have to worry about weaknesses because you're staying in your own lanes and you're shining in your own brilliance.

[00:13:03] The next tangible result is a growth mindset.

[00:13:07] Mindset is everything, guys.

[00:13:09] I don't care if you don't believe in positive thinking, mindset.

[00:13:14] I'm telling you, it works.

[00:13:17] Mindset is everything when it comes to starting and growing a business.

[00:13:20] The strategies for building your business are usually very straightforward and easy to grasp.

[00:13:26] Now, what makes the difference is the mindset and application of those strategies with consistency, determination, and enthusiasm for long enough to reap long-term results.

[00:13:38] The more time you spend with fellow entrepreneurs, the more questions you ask, the faster you'll learn, the quicker your business will grow, and it is way more fun than working for an employer, too.

[00:13:52] So embracing the uncertainty requires that growth mindset.

[00:13:56] A belief that challenges are opportunities for learning and development.

[00:14:02] When you approach uncertainty with curiosity rather than fear, you're opening yourself up to new possibilities.

[00:14:08] So instead of asking, what if this goes wrong?

[00:14:12] You can start asking, what can I learn from this?

[00:14:15] And this shift in mindset will not only reduce some of the anxiety that you may feel, but also fuels innovation and creativity driving your business forward.

[00:14:26] The next thing I want you to do is take a more proactive approach to challenges.

[00:14:32] Tony Robbins says that the enemy to execution or the enemy of execution is that you don't believe you deserve it.

[00:14:40] That's where that mindset comes in.

[00:14:42] So by accepting uncertainty as a given, it's going to happen.

[00:14:46] It will arise.

[00:14:48] You can become more proactive in addressing challenges rather than waiting for problems to arise and then just merely reacting to them.

[00:14:56] You can start anticipating potential obstacles and preparing for them in advance.

[00:15:00] And this proactive approach not only helps you mitigate risks, but also empowers you to turn challenges into opportunities for growth.

[00:15:12] So how can you take steps to embrace uncertainty in business?

[00:15:19] Here's four takeaways that I want to share with you that I've learned and I'm still trying to implement today.

[00:15:26] Is one, reframe your perspective.

[00:15:29] Start by reframing your view of uncertainty.

[00:15:32] Instead of seeing it as something to be feared, recognize that it is an integral part of growth.

[00:15:38] Remind yourself that uncertainty often brings new opportunities that wouldn't have been possible in a predictable, controlled environment.

[00:15:46] Two, stay open to change.

[00:15:49] Cultivate a mindset of openness and flexibility.

[00:15:52] Be willing to let go of rigid plans and embrace change as it comes.

[00:15:58] The more open we are to adapting our strategies and approaches, the better equipped we'll be able to navigate the unknown.

[00:16:07] Developing contingency plans.

[00:16:09] If you are one of those people who love to watch those home and garden shows or renovation shows, you may hear them talk about having a contingency budget.

[00:16:19] This is where if there's almost like a rainy day fun, if something unexpected happens, they can tap into that contingency.

[00:16:28] So while we can't predict everything that happens in our life and our businesses, we can prepare for potential scenarios.

[00:16:34] We can develop contingency plans for various outcomes.

[00:16:37] So we're not caught off guard when things don't go as expected.

[00:16:42] Even having a plan in place can reduce anxiety and help you respond more effectively to uncertainty.

[00:16:49] Next is focus on continuous learning.

[00:16:52] Uncertainty often presents opportunities to learn and grow.

[00:16:56] So making continuous learning a core part of our business journey.

[00:17:02] Whether it's staying informed about industry trends, seeking mentorship or investing in personal development.

[00:17:10] The more you know.

[00:17:12] I was about to say like reading rainbow.

[00:17:14] The more you know, the more you grow.

[00:17:15] But the better you'll be able to navigate the unknown.

[00:17:20] So embracing uncertainty in life and in business, guys, is not about eliminating fear.

[00:17:27] Please don't walk away thinking, hey, I'm teaching you how to eliminate fear.

[00:17:31] Fear is real.

[00:17:32] Fear does exist.

[00:17:34] It can show up.

[00:17:35] However, it's about shifting our mindsets from fear to opportunity.

[00:17:39] And by navigating the unknown with an open mind and a proactive approach, we can increase our adaptability, cultivate a growth mindset, and turn challenges into stepping stones for success.

[00:17:53] And remember, the unknown isn't something to be feared.

[00:17:57] It's an opportunity to innovate, grow, and create something truly remarkable.

[00:18:04] Thank you for joining me on this episode of Work It Live It Own It.

[00:18:07] I hope today's conversation has inspired you and to help you see that the uncertainty in a new light and to embrace it as a vital part of our personal and business journey.

[00:18:21] And if you have stories that you have on how you've navigated the unknown in your business and life, I'd love to hear from you.

[00:18:30] Email me at info at workitliveitownit.com.

[00:18:36] If you have any questions and you will love them answered on any upcoming episodes, that's where you can email me.

[00:18:43] Again, at info at workitliveitownit.com.

[00:18:47] Again, I would love to hear your story on how you've navigated the unknown in your business.

[00:18:52] I would love to hear from you.

[00:18:53] But I want to keep this conversation going so that we can support each other and work towards our goals one uncertain step at a time.

[00:19:03] And I am excited to tell you that our next upcoming conversation is going to be with a visionary coach, Casey Cohen.

[00:19:12] And our next episode, we're going to be talking about epiphanies and emotions in business because running a business is like a roller coaster ride.

[00:19:23] So stay tuned.

[00:19:25] Stay buckled in to the next episode of Work It Live It Own It.

[00:19:28] Until next time, keep working it, living it, and owning it in your everyday lives.

[00:19:34] Take care, my friends.

[00:19:35] Take care, my friends.