2020 is one of the hardest survival races for every business around the world. Many didn’t make it while few are still standing in the time of uncertainty. Many businesses hope for 2021 to be a better year with how vaccine programs started running. However, we cannot deny that we are still in the zone of uncertainty, volatility, ambiguity, and complexity. Surviving in this zone is not easy especially for small business. However, it is not impossible to do it with the right plans and strategies.
How to reach growth in uncertain times
Everywhere just like how 2020 wrecked havoc. It is challenging but not impossible to survive and even thrive even during uncertain times. What you can do first is understanding the situation first.
We all know that we are living in uncertainty now. What kind of uncertainty we are dealing with right now is what you need to understand. The uncertainty we are facing now means that we no longer can predict what the future will look like. There is not tool that can make accurate prediction. Even with vaccine being made and spread, there is no guarantee that the global pandemic will end anytime soon. Also, keep in mind that the pandemic is not going to be the only challenge waiting for you in the future.
Times now are volatile. It means that changes are now happening drastically and rapidly. We all see how exchange rates fluctuate in every minute. There are new global trends emerging everyday. Even the foundations and principles are shifting constantly. It shows how volatile the world we are living now. Growing business in this volatile world can be hundred times harder.
We are also living in the zone of ambiguity. It is more challenging to be on the same page because every party has their own differences. Nothing is black and white anymore and it is even harder to make decision. Growing business in this kind of world is more daunting because nothing is clear and lack of agreement makes it even worse.
The time is now full of complexity since modern world is multifaceted as many people call it. You need more than one skill to be successful in what you aim for. In building business for example, you need not only financial management skills to succeed but also other skills such as leadership, communication, and more. We are forced to keep developing our abilities to not be left-behind.
One of the key ingredients to success in this uncertain, complex, ambiguous, volatile time is plan. It may not seem a good solution for the world full on uncertainty. However, a good plan can help as a clear guidelines for actions. When you plan ahead, you won’t be caught off guard by sudden shifts or crisis. You already calculated every possible scenario so you know the risk and how to pivot effectively.