As an entrepreneur your level of success ultimately boils down to your consistent ability to turn problems into profit. Starting a business is simple, but rest assured that there is no such thing as an easy business when it comes to operating day in and day out.
Get ready to use these tips below the next time the "fit hits the shan".
You are never as great as some will say and never as bad as some will say. When things are not going your way, you must first (and immediately get perspective) and see things for what they are, but not worse than they are. Don't fall into the trap of compounding fear that will block your ability to see the facts through the feeling. Sure you had different plans. Sure you wanted/needed it to go differently. But now you can see things for how they are currently presented to you in reality, and make new plans and new decisions to come out on top in a different way.
Surround yourself with good data. If you are not leveraging a formal data governance policy in your marketing or operational teams then start educating yourself with Travis Wright's Cheat Sheet. If you find yourself in a pickle right now and don't have a formal data infrastructure in place to identify insights or issues, then you need to get to some sense of 'truth' in your business and must rely on tried and true trusted advisors, friends, and good ole' business process engineering to help you assess the current facts and forces. In parallel you should begin building a data governance layer into your operational infrastructure. Research agnostic data and tagging platforms like Google Tag Manager (SMBs) or Tealium (enterprise) if you don't currently have a formal data architecture in place. Ultimately you need access to good and reliable data that will help you analyze what consequences may come from your next set of decisions as you weigh pros and cons.
As an entrepreneur you have gotten here because of your willingness to make decisions. Don't forget that your biggest asset is your decisiveness and that in the heat of battle, when you begin to doubt yourself for previous decisions, that it is very human to want to slow things down. In the world of high stakes entrepreneurship, slowing things down is often not an option. The alternative is to use the first two tips to help you calm down so that you can speed up your next set of decision making without increasing the damage.
I have had several ups and downs over my 19 year career and one thing that I have learned from over $3.5 million worth of tough lessons in that tenure is that your gut is a good guidepost. Collect the facts. Get perspective. Calm your mind down and then trust your gut (even in the face of logical advice from your advisors and surrounding executive team. At the end of the day the buck stops with you and you have to live with the consequences.
Commitment is best defined as doing what you said you would do long after the emotional high has worn off from the moment you made the decision to do it. Anyone can commit when its going well. You must re-commit each time you face a setback. Set the rudder and align your team behind your field level leadership as you lead from the front.
Get Short Term Memory Loss
The best asset I have (and other successful entrepreneurs I have met) is to have a bad memory about bad things. In the moment you must be hyper present and vigilant in analyzing the causality, the common habits and other forces that are causing your current issues to surface. Make decisions about what new habits you will deploy to prevent a recurrence in the future. Then move on and forget about it. Realize that others around you (like your Mom and Dad or maybe your spouse) will not necessarily be able to forget it as quickly and empathize with them, but you must forget and focus forward. There are no decisions or opportunities in the past.