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November 21, 2020

4 proven ways business chaos can be made into an exciting opportunity

4 proven ways business chaos can be made into an exciting opportunity.

Many people would probably think that the metaphor ‘thinking out of the box’ is a cliche. But it actually sums up why chaos breeds new ideas and opportunities. There is nothing more out of the box than being thrown out of whack.

For example, the chaos of the last World Wars we encountered brought about an industrial revolution, unlike any other. The example may be extreme, but it does make the point.

Currently, the world is experiencing an event that threw the word ‘normal’ out of the door. The Covid-19 pandemic has re-arranged our way of life in a matter of months, and only now are we starting to cope. While the epidemic has negatively affected traditional businesses, it did also open up new opportunities. This global health crisis has, in a way, became an equaliser in the business sense.

What is happening now is chaotic, and once again, opportunities abound at every turn. Tragic as it may seem, these current events are also hotbeds of new ideas to take advantage of.

You can see younger people, those who weren’t really concerned about the future before, are now opening up savings accounts for various purposes including retirement. People who usually don’t give a thought about saving or starting a business are now actively gearing up to handle the unknown future.

Using the chaos to your benefit

When you are comfortable, the tendency is to be complacent. Being relaxed is good and not a bad thing in itself, but comfort can lead to stagnation.

Upsetting the balance and veering away from the norm will usually lead to new and better things, depending on the person. When a person becomes uncomfortable, that is the only time that they will move. This is the same thing in the world of business.

Disruptions, particularly chaotic ones, are significant catalysts of reforms in the business world. One either gets overwhelmed by them or puts them to use.

Experiencing hardship is nothing new to entrepreneurs because they have been dealing with this from the moment they started their businesses.

Whether it is launching a new product, dealing with employee problems, generating more sales, and even budget problems, real business owners know that obstacles are normal and they help the company innovate.

Not everyone is ready to handle these obstacles, but there are ways on how we can deal with hardships. There are strategic frameworks that anyone can follow to flip the situation from a debilitating one in a vessel for improvement.

Here are some of the best ways to turn any crisis into opportunities:

1. Be calm and keep a cool head

Panic never did anyone any good, and keeping a cool head has never been more appropriate or applicable in a chaotic situation in any business.
Companies are living in turbulent times all the time to varying degrees, and CEOs who keep a calm head survive and even thrive.

Leaders are often already equipped with the basics of handling a crisis, but having a crisis management team can ensure that you can minimise the impact of chaos on your business.

Keep a list of employees or build a team who you can go to when the mess hits the fan. Your crisis management team should be able to help you assess how problems can be used as the stepping stone to success.

We have many examples, but just take a look at Microsoft. It is one of the biggest companies in the world and it was founded at a time of economic crisis. Take a look at its success now to measure how chaos has been turned into a great opportunity.

2. Shift your mindset

Not everyone will be able to do this in a pinch, but if one wants to survive chaos in their business or workplace, you have to shift your mindset.

This translates to making an effort and forcing your perception to see the good and see the opportunities in the developing scenario. When you can do this, you stop being rooted and immobile and instead, you begin to act.

As part of conquering the mindset, acceptance has a lot to do with making the right decisions. Along with approval comes the clarity to make the right choices and decisions. With acceptance, the tendency to be angry and clouded is minimal, and therefore the flow of decisions to better counteract the situation is more straightforward.

3. Think negatively

Seems counterproductive, right? It would seem so, but it is an advantageous trait when it comes to planning. By thinking about all the things that can go wrong, you and your team can better manage it when it happens.

By considering all the angles that can go wrong, there would be minimal to no surprises. This idea is not a new one but goes way back in history where all the evils are premeditated in battle.

This idea is often referred to as the premortem, and people in the business widely use it.

The idea is to practice hindsight in advance so as not to be caught by surprise. The chaotic event will not render you immobile by applying this, having anticipated it, and imagined it coming.

4. Get help from others

Most entrepreneurs fail to recognise that they can seek help from others. By others, we mean peers in the business, those who have been doing it, and those who have been in the business for far longer than you have.

Friends and relatives are no exception because they may provide a unique perspective to your business problem.

You can also reach out in a professional capacity, meaning hiring a coach or a mentor to help guide you along the way. Be open to being influenced by outside sources of your choosing.

The point is to acknowledge that you are never alone. Recognise the importance of inputs from people with more experience or those who have a different perspective to you.

Wrapping this up

Acceptance, the proper mindset, and preparation for the worst can be applied to all aspects of life, and not just in business. The ability to turn something negative into an opportunity is not an inherent one, but it can be learned by practicing and never giving up.

— Angeline Licerio is a content writer for Elevate Corporate Training, a team of corporate trainers committed to improving performance of individuals and teams within organisations.

• Posted 11.21.20 at 04:15 am by Roy Osing
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