Navigating Turbulent Times: A Personal Leadership Roadmap for Entrepreneurs and Leaders

Entrepreneurship is inherently uncertain. The highs are exhilarating, offering glimpses of potential success, while the lows can be daunting, casting doubt on the very decision to start a business. Most founders of any organization have doubted their decisions. “What was I thinking?”

In times of uncertainty, personal leadership not only becomes a skill, but a necessity. Entrepreneurs who master uncertainty can navigate their businesses through turbulent waters and emerge stronger on the other side.

Personal leadership is leading yourself with the same dedication and integrity with which you lead others.

For entrepreneurs, this means managing one’s own emotions, decisions, and actions in ways that guide the business forward. It is particularly critical during times of uncertainty, where clear external guidance may be lacking, and the path forward might not be well defined.

This year we have geo-political crisis, technological changes, domestic elections, and challenges as people continue to deal with COVID-induced stress.

For entrepreneurs, this means managing one’s own emotions, decisions, and actions in ways that guide the business forward. It is particularly critical during times of uncertainty, where clear external guidance may be lacking, and the path forward might not be well defined.

This year we have geo-political crisis, technological changes, domestic elections, and challenges as people continue to deal with COVID-induced stress.

What can entrepreneurs and other leaders do?

1. Cultivate Self-Awareness. Entrepreneurs must be keenly aware of their strengths, weaknesses, emotional triggers, and values. This self-awareness allows them to make decisions that are consistent with their long-term vision rather than reactive responses to short-term challenges.

2. Maintain a Clear Vision. Clarity of vision is crucial, especially when doubts arise about the viability of the business. Entrepreneurs should revisit their initial motivations for starting the business and realign their current strategies to reflect these foundational goals. This helps in maintaining focus and not getting sidetracked by temporary setbacks.

Ask:

1. What do we actually do?
2. Who do we serve now?
3. Who are we serving in the future?
4. What changes are we likely to see in the next 1, 3 and 5 years?
5. How will those changes affect our vision and mission?
6. What aspects of our strategy will need to change?

3. Adopt a Flexible Mindset. Flexibility is key to managing any business in flux. This involves being open to changing strategies, trying innovative approaches, and pivoting when necessary. A flexible mindset helps entrepreneurs adapt to changing circumstances without feeling like each change is a retreat from their initial plans.

4. Emphasize Continuous Learning. Entrepreneurs should seek knowledge actively—whether through books, mentors, peers, or even competitors—to better understand their industry and how to navigate its challenges. Joining masterminds, attending chamber events, or hiring a business coach (even just for an hour!) can help with focus and strategy.

5. Make Strong Decisions. During times of crisis, challenge, and change, indecision can be crippling. Entrepreneurs must cultivate the ability to make decisions confidently and act. This does not mean rushing into choices without thought, but rather, gathering the best information available, making an informed decision, and then moving forward with conviction.

6. Practice Resilience: Personal resilience allows entrepreneurs to withstand the inevitable difficulties of business life. This can be developed through maintaining physical and mental health, fostering positive relationships, and having hobbies or activities outside of work that provide relaxation and joy.

My favorite trick when something is bothering me is to set a deadline for the lows that come with every business. Last week, I lost a speaking engagement to another (very good) speaker. I really thought I was perfect for this event, and this loss hit me a little harder than normal. I looked at my watch – it was 2:32 PM. I gave myself until 3:32 PM to feel as down, depressed, and sad as I wanted- a one-hour time block to have a pity party, and then set the alarm. At 3:32 PM the alarm reminded me that my pity party was officially over, and it was time to get refocused and reengaged.

7. Seek Support. Pick up the phone! No entrepreneur is an island, and during tough times, having a support network can make a significant difference. This network can include family, friends, business advisors, or even a formal business mentor. These connections provide emotional support as well as practical advice and insights.

8. Connect with Your Team. Leaders should communicate transparently with their team, sharing both challenges and victories. This builds trust and ensures that everyone is aligned and moving together towards common objectives. It also fosters a culture where team members feel valued and are more likely to contribute effectively.

Starting a business is hard, and sometimes doubts creep in.
“Do I have what it takes to run this business?” 
“Can I keep going?”
“Should I do something else?”  

The keys lie in maintaining a clear vision, being adaptable, continuing to learn, and leaning on a supportive network. These strategies not only help entrepreneurs manage their businesses during uncertain times but also contribute to personal growth and the long-term success of their ventures.