Crisis in business can teach you valuable lessons. They test your mettle, force you to utilize all your ingenuity and talent to deal with the problem and come up with sound solutions. Handling crisis isn’t always easy and it’s not some inborn talent that you either have or you don’t.
When you’re running a small business, you need to learn as your grow. Successful entrepreneurs handle crisis in an intuitive and fluid manner that helps them adjust to unexpected situations. Here are some tips that’ll help you achieve that as well.
1 Action and Observation
When a crisis arises, you’re tempted to simply take action and deal with it as quickly as possible. You make a plan and come up with a solution. The next course of action is to quickly implement the plan and get the problem out of the way. While this is all well and good, crisis is rarely straightforward. You need to do more than just act. In a way, you need to modify your plan and change your action according to the changes in the situation.
For example, if you dig into the situation and find it to be more complicated than you originally anticipated, you need to have enough room to respond to that easily and competently. For that, you need to keep your eyes open throughout the crisis.
2 Flexibility in Planning
This point ties with the previous point as well. You need to have room for unexpected situations at the beginning. If you develop a rigid plan of action without any room for growth or improvement, you’re limiting your ability to act comfortably and properly.
For example, if you need to solve a problem for your client and know it might take three days to do it, promising to deliver in three days isn’t wise. You need to give yourself room for unexpected developments. It would be better if you promise to deliver the solution in five days. That way, you give yourself room and can deliver early, impressing the client, if you face no problems.
3 Solutions and Consequences
You need to keep in mind that even as you solve a problem, it can affect other aspects for your business. For example, if your server crashes unexpectedly, it can disrupt the business. Even as you address the situation, the problems that emerge due to the technical fault need to be dealt with.
For this, you need to have a diverse strategy in place. You need to plan for all the problems that might emerge due to a single fault and address them simultaneously. That’s not always easy, but deferring other problems until you’ve solved the main issue isn’t always an option for entrepreneurs.
If you keep these things in mind, you can manage crisis a little more comfortably. Problems might still arise and you’ll still feel frustrated and stressed, however, people who manage crisis intuitively are more equipped to handle it than those who don’t.