In the last two blog posts we explored how leaders can help their organizations and team members navigate economic uncertainty. We’ll continue with this theme in the next two posts, but in a more personal direction.
In the post below, we’ll discuss how you can turn uncertainty on its head, using it as an opportunity to challenge yourself to come up with better ways of doing things. In the next post, we’ll offer tips on planning for the future while weathering the storms of uncertainty.
As novel as it appeared to be, the Covid-19 pandemic was only an extreme example of a force that has been, and will always be, present in the world: disruption. Whether the source is technological innovation, a brand-new infectious disease, or something else, the winds of change will never stop blowing—and this means opportunity for innovation in uncertainty.
This is true whether you’re an industry darling, struggling startup, or middle-of-the-pack company. Whatever your position, eventually, change is gonna come—along with its close cousin, uncertainty.
And when both arrive, you’ll have two choices: to double down on what’s always been done (often, but definitely not always, “what’s been working”) or take a different, more innovative approach.
Uncertainty in Business Can Open the Door to Innovation
Top 4 Tips to Innovate in Uncertainty
I’m here to suggest you consider the latter—embrace innovation. Because if you can muster the courage to not only manage uncertainty but leverage it, you may just become that more efficient and effective down the line. To that end, here are four tips for making the most of uncertainty.
1. Ask New Questions
The definition of insanity is asking the same questions over and over again and expecting a different result. Doubly so if you happen to find yourself in a moment of perceived uncertainty, whether economic, technological, social, or all of the above.
If you really think about it, every attempted resolution to a problem—whether effective or not so much—begins with a series of questions.
Let’s say, for example, you run a car parts manufacturer. If there’s a snafu with one of your suppliers, what are your first questions? Some of the more obvious answers are “How long will it last?” and “How do we fix it?” All reasonable.
But what if you took a step back for a moment. “Is there a better and/or more reliable way to source this?” or “Is it really worth offering this product if we’re always dealing with chronic delays?”
Source: Pexels
Maybe the answers to both of these questions are a resounding “No” (for the time being, at least—see above note about the unstoppable winds of change). That’s fine.
The larger objective here is to train yourself to think more critically, especially in the heat of the moment, when you’re forced to deal with something unforeseen. Examining your automatic responses to issues that come up is an easy way to gain new insights. Because those reflexive responses aren’t random—they are a reflection of what you most value, and attempts to quell your greatest fears.
Understanding your core reactions to controlling the unforeseen can offer profound insight to you as a leader, and the culture you’ve likely shaped around you with those responses. Do it enough, and you may find yourself thinking up untapped revenue streams or new product development ideas.
2. Suspend Disbelief
When high uncertainty knocks, it’s all too easy for a leader to reach back and draw from their trusty old playbook, the assumption being that their past experiences will automatically apply to any new situation.
The key word here is automatically; they refuse to even consider that there may be another option. They refuse to suspend their disbelief that if something hasn’t been tried before it’s not worth trying now.
There’s a big problem with this thought process, however. When leaders respond to every disruption with the same automatic reactions, they’re setting themselves up to miss significant opportunities.
Refusing to flex your imagination isn’t only lazy, it can be actively harmful to a business. Because even if you’re not brainstorming novel new ways to troubleshoot problems or create new products that fit better in the changing market, chances are one of your competitors is.
How do you suspend disbelief? By pausing to reflect and think about the circumstances at hand. Asking yourself questions like “What can we learn from this?” or “What is the opportunity we’re not seeing?” Doing so can foster new insights that help you question old, outdated norms and react appropriately.
“Uncertainty is the only certainty there is, and knowing how to live with insecurity is the only security there is."
– John Allen Paulos
3. Don’t Worry, Be Curious (AKA Don’t Panic)
There’s no way around it: uncertainty is scary. And change that’s especially disruptive doubly so. Unfortunately, too many leaders, scared out of their wits, try to cover up their discomfort with feigned confidence. Rather than admit their uneasiness, they either act like everything is just fine or like they’re the smartest person in the room.
It’s not hard to see these responses for what they really are. But the best leaders work to put their egos aside, even when it’s hard. They realize that decision-making while scared puts them at high risk for making poor choices based on outdated information or keeping their organization from responding nimbly to problems.
Uncertainty doesn’t have to be a derailing event, though. Anticipated and embraced, it can unleash extraordinary opportunities and help you reveal the best version of yourself, perhaps one you could have never previously imagined. You just need the courage to take the first step.
Innovation and uncertainty needn’t be like oil and water. If you can keep a level head and your ego in check, it might prove more akin to Batman and Robin. Or John and Paul. (Insert your favorite dynamic duo.)
So the next time you’re walloped (or merely hit) by uncertainty, take a breath. Instead of getting defensive, resistant, or dismissive, try to look at the situation with fresh eyes. Embracing discomfort can convert into a real competitive advantage, something that helps your business or team adapt and thrive no matter what the future holds.
Tip
Note that “embracing” uncertainty isn’t the same as “going to Vegas for the weekend with uncertainty.” As with everything, a bit of prudence and healthy skepticism is warranted, even if (maybe especially if) you’re ready and eager to change things up. Go ahead, be bold! But also be prepared.
4. Embrace the Constraint
One big reason people and organizations fear change is because they think it will limit them in some way. Maybe a market will become out of reach. Maybe certain offerings, even historically lucrative ones, will no longer be as feasible. Maybe a new business model will have to be quickly thought up.
All of this is a possibility. But there’s also a glass half-full perspective: these sorts of shifts can offer a painful but much-needed opportunity to adapt and focus. Is, say, a new regulation coming to your industry? Instead of fretting about potential lost opportunities, why not think about ways to (re)position yourself as a leader in this new landscape?
Is it possible you were already stretched too thin before, trying to serve every last nook and cranny in your market? By accepting new limitations and getting back to your unique strengths, you’ll put yourself ahead of any competitors who refuse to do the same.
Uncertainty is the ultimate disruptor, yes. But even in the face of it, an open mind and a willingness to stop doing the same old thing can spirit you to safety—and maybe even newfound success.
As the old saying goes, necessity is the mother of invention. And you never want to disappoint your mother.
Plan for the Future With Strategic Thinking
Embracing uncertainty and putting your best foot forward, even in the face of economic turmoil, takes more than bravery. It requires insight—and the ability to embrace innovation based on your company’s context. New challenges yield new opportunities, but it takes some work as a leader to be able to see them. That’s where leadership consulting and strategic planning help.
We’ve helped more than 160 organizations embrace change and plan strategically, and have helped over 50 CEOS to become more effective leaders.
Learn how to lead strategically. Contact us today.