By David Brown, Published in The Retail Jeweler, September, 2019
Being a business owner is stressful and most days require you to confront issues and to deal with unexpected problems. Although, some of these problems might have been avoidable, it can be difficult to not let these issues affect you. How you deal with problems can have long-reaching effects, not only on your business performance but on your personal life and health. It pays dividends to learn how to deal with external issues when they happen.
One of the best questions to ask yourself when a problem arises is “Could I have changed this outcome?” If the answer is no, then relax in the knowledge that this could have happened to anyone. These situations will always arise and there is little point in cursing the outcome when it was virtually inevitable. If you could control it then congratulate yourself – you’ve just learned a valuable lesson in what not to do and can eliminate this as being an issue that will repeat itself again in the future. To help manage problems when they arise here are a few steps that will make the process run a little more smoothly for you
Focus on the problem not the solution
Anthony Robbins has said that the quality of your life is directly related to the quality of the questions you ask yourself. When things go wrong people too often say “Why does this always happen to me?” This distracts the brain to focus on the problem when it needs to spend its energy on finding a solution. Going over and over the issue is pointless if it doesn’t result in a resolution.
Determine the worst possible outcome and decide if you can live with it
Are the consequences as bad as you think? A better way to ask this is the question “Will I still be worrying about this in one month or one year?” Ask yourself these questions will often put problems into perspective.
Talk to others about the issue
Problems tend to appear larger than they are when you have to deal with them yourself. Talking it over with a colleague, a friend or a fellow business owner can help you keep it in perspective and offer alternative solutions you haven’t necessarily considered.
Provide yourself with a stress relief
No matter how well you manage things there will always be stressful situations and it’s important you have an outlet for this. Sports can be a great way of diffusing stress as can hobbies and spending time with friends. A good holiday now and again doesn’t do any harm either!
Manage the Expectation
In his book Flow, Mihaly Csikszentmihalyi talks about two main strategies to improve the quality of your life. The first is to try to make external conditions match our desired goals and outcomes. The second is to manage our expectations of what outcomes we require. The first approach leaves you perpetually disappointed as you can never control all the external factors that you need to get the outcome. People and circumstances will always be unpredictable. Adopting the second approach doesn’t mean you have to settle for less or stop trying to achieve more, but it does provide you with an opportunity to adapt your expectations to provide you with a better chance of meeting your goals. We’ve all had sleepless nights coming to terms with business issues. These are part of the challenges of life, how we deal with them is part of learning and growing as a person. Treating them as a chance to develop yourself as a leader and manager can provide a sense of satisfaction when an issue is resolved.
David Brown
David Brown is President of the Edge Retail Academy. If you would like more information or strategies on this topic, contact us! The Edge Retail Academy is a highly effective jewelry industry consulting company that provides customized strategies for retailers and vendors to increase profits, optimize growth, reduce debt, create profitable inventory solutions, build effective teams and enhance brand loyalty and profitability. The Academy is committed to helping jewelry businesses improve their bottom line while reducing uncertainty and stress. Edge Retail Academy software and the unique talent pool of their business advisors provide real world knowledge and advice for guaranteed results, all on a “no-contract” basis. 877-569-8657, ext. 1, Inquiries@ EdgeRetailAcademy.com or www.edgeretailacademy.com © Edge Retail Academy 1983 Oliver Springs Street Henderson NV 89052-8502, USA