Tweet

Coping With Volatility In Your Business

Written by: Flo Schell

Article Overview: When the volatility of the world is taking its toll, you may feel you have no other choice but to give in to it. But the truth is, you do have a choice. Here are some steps to consider.

Coping With Volatility In Your Business

Ok, the world is not performing up to par these days. While this particular economic challenge is certainly more frightening than usual…the truth is we’ve faced big stuff before.

And we’ve made big choices: Shall we give in to the volatility? Or shall we remain vital in spite of it?

Here's what I think: every day we get to wake up and figure stuff out. So today is no different than any other...although for sure the ‘stuff’ feels bigger.

On the best of days, you wake up strong and rested, ready to meet whatever challenges are out there. Your will is solid, your skills are honed, your confidence is up, and your spirit is filled with vitality.

On the worst of days, you wake up tired, sluggish, lacking in confidence and dreading what the day brings. Your spirit is low and it all feels too big to manage.

When the volatility of the world is taking its toll… you may feel you have no other choice but to give in to it. But the truth is…you do have a choice.

Here are some steps to consider:

1. Think of other unstable situations you’ve been in. How have you handled them? What inner strength did you rely on? Can you reach inside and find it again?

2. What support people did you turn to for advice on how to handle the insecurity or unpredictability?

3. Is it time to re-engage your support team?

4. Look to the SWOT as a reliable analysis tool. Identify each of the following:

S=Current Strengths W=Current Weaknesses
O= Possible opportunities T=Current Threats

5. Discuss the SWOT results with your support team.

6. Make careful, intelligent decisions about what to do next.

7. Take one action that will lead to a positive result.

8. Watch as your vitality goes up with each small success.

And become the one vital force that people turn to when the rest of the world seems to be falling apart.

Related Articles
  Stock Market Volatility and the Impact on Small/Medium Size Business Owners and Buyers
  Help! I'm Stressed and Anxious
  DIVERSIFICATION - HOW TO GET THE BENEFITS
  10 Tips for Coping with Holiday Stress
  North Korea's Nuke & Missile Tests Shake up the Yen!

Article Tags: analysis tool, challenges, choices, confidence, economic challenge, inner strength, insecurity, intelligent decisions, rest of the world, spirit, spite, swot, truth, unpredictability, vitality, volatility



Related Forum Posts
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Exclusive: Interview with Results - Hi Forum Members, I'm helping start up a Business Coaching and Consulting company here in Toronto, Ontario, Canada (a Subsidiary of RSC Business in Los Angeles). As a Research and Development Intern I am required to practice my listening and interview skills by surveying Small and Medium Businesses on thier Business. This Survey is designed by RSC Business to also assist the Business being interviewed more insight into their own business. I am looking to interview about 30 businesses across North America over the span of 3 months. At the end of these interviews I will be publishing a report of the results and they will be made available for free to the Interviewees. The Report data will include responses from a minimum of 100 interviews. I would like to extend this opportunity to members of the Forum. If you would like to have this short 20-30 minute interview conducted on your Business and you reside in North America please send me an email or PM. Please contact me at andy[at]jvprosperity[dot]com to arrange our interview and to get free access to the results when they are published.
Re: HOw to market a B2B consulting company - [quote="zohahunt77":428owzbi]Hi, I was wondering if anyone can tell me the difference between B2B and B2C. I don’t know about b2b marketing but I have done marketing so know things about it. I will suggest you to take online services which will spread your business all over web network. Online marketing is the best way to market any business.[/quote:428owzbi] B2B = Business to Business - You are marketing to other businesses. B2C = Business to Consumer - You are marketing to consumers.
English teachers learn Japanese as Interns - Yasunori, what about the many students that leave N. America to teach English in Japan. They may want to learn Japanese (maybe Business Japanese is a bit different) and the Japanese Business Culture.
New Study - Women prepare better business plans - I found an article in Business Week and I found this quite interesting. [quote:ka7lg35i]Who Prepares Better Business Plans, Men or Women? A new study based on four years of data from men and women in a training program for microenterprises finds that they come out the same in quality scores. "However, women scored significantly better on the presentation of their plan to judges," conclude the study's authors, Ronald G. Cook, Paul Belliveau, and Christine Lentz of Rider University, in a paper presented at a recent meeting of the Small Business Institute. [/quote:ka7lg35i] What do you guys think?


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Executives and Elevators Perfecting That Pitch

Resolving A Conflict Between Two Sales Staffs

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.