Like it or not, life happens, and unfortunately, when it rains it pours.
As I’ve learned firsthand, when you’re dealing with difficult situations, the rain isn’t going to stop just because you have a business to run or work to do.
Life will continue to move on at a relentless pace, whether you’re ready for it or not.
Over the last few years, for instance, I’ve lost both my parents, dealt with other deaths in my family, and had to deal with relationship difficulties – from friends and family to business associates and everyone in between.
I’ve also dealt with my own health issues, including insomnia, exhaustion, depression, and anxiety.
And to top it all off, I fell off my bike not too long ago and twisted my ankle.
Needless to say, it feels like I’ve been getting poured on for the last several years, with no end in sight.
Still, I’ve pushed forward, continuing to run my business and making the most of what I have.
But it has not been easy by any means.
That being said, I know I’m not the only one dealing with difficult situations, and I’m sure you’ve got your fair share of problems on your plate as you’re reading this right now.
And as someone who’s dealt with this extensively, and helped countless clients with this sort of thing, I want to offer some advice for dealing with difficult situations as a business owner.
So, if you own a business and you’re dealing with tough times, or you just want to learn how to handle difficult situations, then this is an article you’re not going to want to miss.
My Advice on Dealing With Difficult Situations as a Business Owner
Before I offer my advice, I want to explore an example of what it’s like dealing with difficult situations as a business owner, using a scenario one of my clients recently experienced.
This client had an awful year, as one bad thing after another happened.
First, one of their long-time employees resigned, not because they didn’t like their job, but because they just wanted to start learning new skills.
This completely blindsided my client, who had no idea that they felt this way.
Not too long after that, another employee was diagnosed with cancer and passed away a few months later.
The very next month, an employee retired after more than 15 years, and then another employee found out that they’re not in good health and will be undergoing treatment just a few months before they’re set to retire.
At this point, four experienced, long-term employees were gone.
And all those years of training, all those years of understanding personality differences, and all those years of relationship building were also gone.
To top it all off, the remaining staff have all been dealing with life in one way or another, from health issues to grieving the death of loved ones.
As a result, they have nothing but a skeleton crew left to do mountains of work.
I’ve been working with this client to try to put all the pieces back together, but at the end of the day, there’s only so much I can do.
Unfortunately, this client does not have the bandwidth to train new employees, and we’ve been unable to find the right people to take over these vacant positions.
But business keeps coming in, and this client refuses to turn anyone away, so they and the remaining staff are now forced to take on their own work, and that of the four employees they’ve lost.
Obviously, this is completely unsustainable, but there’s not much else they can do until we find the right people to replace those employees.
So, what do you do in this sort of situation? How do you keep up? And how do you move forward?
To be fair, this is a pretty extreme example, and you may not be able to relate.
But no matter what problems you have, if you’re dealing with difficult situations related to your business, the following advice should help.
Stop and Breathe
I know this sounds like a turn of phrase, but I’m serious.
The first thing you should do when dealing with difficult situations as a business owner is to actually stop what you’re doing, take a deep breath, and take stock of what’s happening.
Because if you act on emotion, and make decisions based on knee-jerk reactions, you may end up doing something you’re going to regret later on.
With that in mind, it’s much better to try to relax, analyze what’s happening, and calmly decide what you’re going to do.
Talk to Someone
When you own a business, it’s easy to feel isolated and think that nobody can help you but you.
But the truth is, when you’re dealing with difficult situations as a business owner, it’s just as important to talk to someone as it would be when you’re dealing with issues in your personal life.
In any case, confiding in someone will allow you to alleviate stress, as you can get things off your chest, and even if you’re talking to someone who’s not a business owner, they may be able to help.
So, if you’re a business owner and you’re dealing with tough times, make sure to talk to someone who will listen to you and empathize with what you’re going through.
Take Care of Yourself
As a business owner, when you’re dealing with difficult times, it’s easy to make excuses for working excessive hours, skipping meals, and just generally taking your health for granted.
But when you’re dealing with adversity, it’s even more important to take care of yourself, as your stress levels are probably already through the roof.
And if you’re not managing your stress, and taking care of your health, then it may affect your capacity to manage your business.
So, make sure to get more than enough sleep, engage in physical activity, maintain a balanced diet, and a balance between life and work.
With that in mind, you might want to consider some hobbies or activities that distract you from the pressures of work and help you recharge your mental batteries.
I recently got into paddleboarding, and I’ve been having a blast!
Stay Calm and Focused
In these situations, your initial response may be that of panic or anxiety.
But when you’re dealing with tough times, keeping calm is crucial, as it influences your decision-making and can affect the morale of your team.
So, if you want to stay calm and focused, even in the face of adversity, you should think about adopting mindfulness techniques like deep breathing exercises and meditation, as they can help stabilize your emotions and promote clearer thinking.
Identify and Prioritize Problems
When crisis strikes, issues will inevitably pile up, pulling your attention in many different directions.
And in order to manage this, you’re going to have to identify and prioritize problems based on their impact on your business.
In doing so, you should start by categorizing the issues you’re dealing with into four categories: urgent and important, important but not urgent, urgent but not important, and neither urgent nor important.
This approach, often referred to as the Eisenhower Decision Matrix, can help you in times of crisis by putting your focus on the things that will most significantly affect your business.
Engage and Support Your Team
Engaging and supporting your team is always important, but it’s even more pivotal when you’re dealing with tough times.
With that in mind, open and transparent communication is key, so make sure that your team understands the challenges you and/or your business are dealing with, and if possible, try to involve them in brainstorming sessions to come up with solutions.
This inclusion not only makes your employees feel valued, but also helps you to tap into a wider pool of ideas and perspectives that could be crucial for navigating whatever it is you’re dealing with.
What’s more, even during the toughest of times, maintaining the morale of your staff is essential, so make sure to recognize their hard work, as always, and offer them support, if need be.
Focus on Survival
If you’re dealing with a situation where you’re not able to devote as much time to your business as you’d like to, or need to, then you may have to shift your focus to ensure its survival.
This may mean scaling down temporarily or making other tough choices, but it’s all about positioning your business to thrive in the future.
Having said that, you may want to review your business expenses and identify areas where costs can be reduced without crippling your operations.
This might involve things like renegotiating contracts, delaying non-essential projects, or finding cheaper alternatives for services and goods.
Set Short-Term Goals
Long-term planning can be extremely challenging during a crisis, so when you’re dealing with difficult situations, you should concentrate on setting achievable short-term goals.
These goals should be specific, measurable, and directly tied to the stability of your business.
Achieving these kinds of goals can be great during times of crisis, as they provide quick wins for your business, boosting the morale of your team and giving you and your team more confidence moving forward.
Leverage External Help
Although you may feel like you have to, no one expects you to navigate a crisis alone.
That being said, if you’re dealing with difficult times, you might want to seek advice from those who specialize in crisis management or turnaround strategies for business.
Another thing you might want to do is reach out to peers in your industry who are facing similar challenges or have navigated similar situations in the past, as their insights could prove to be quite valuable.
Communicate with Stakeholders
When dealing with difficult situations that can affect your business, it’s more important than ever to be transparent and communicate with stakeholders, regardless of whether they’re employees, customers, investors, suppliers, or creditors.
Having said that, you should make sure to keep everyone involved informed about the effect your situation may have on your business, what measures you’re taking, and how these measures will support the health of your business moving forward.
Because in these situations, honesty can help you build trust and even encourage stakeholders to offer support or solutions to whatever it is you’re dealing with.
Learn from the Experience
Every challenge, no matter how hard to deal with, presents a learning opportunity.
So, after navigating through the immediate crisis, you should try to take some time to reflect on what happened, and what was learned.
Ask yourself what worked, what didn’t, and what you could have done differently, and then use those insights to create a crisis management plan for the future.
This involves coming up with preventative measures and contingency plans so you can better prepare your business for any future disruptions.
Do you need help dealing with a business-related crisis? Contact me today to find out how I can help.