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Fear's Impact on Business

Updated: Oct 21, 2022

By Josh McDonald, Senior Project Manager with Nexus 5 Group

Current events, inflation rates, and the never-ending news cycle can create a weariness for many business owners. That weariness can easily turn to fear, and fear can be the beginning of a crumbling foundation. Fear causes us to be reactive instead of proactive, emotional as opposed to logical, and narrows our vision to the here-and-now.

Below, we're going to walk through some impacts of fear and ways successful companies operate through trying times.

I believe there’s a single foundational truth that all quality leaders follow. It’s not about YOU. Too many times in life, I’ve tried to control circumstances that were, in no way, possible for me to control. The outside influences of business caused me to circle the wagons internally and was reflected in my grasp for control. In retrospect, I should have trusted my team and set parameters for operation instead of trying to grab the wheel and steer it alone.

There've been times that it’s been difficult to identify the root cause of the fear I carry. However, I have found several ways to overcome the internal struggle and loneliness that can be caused by the separation I’ve created through my own thoughts and emotional response to fear. Mentors, other business leaders, and trusted friends can bring an element of truth to your situation that you might have missed.

Lean into those you trust.

Their view is broader and their clarity can be refreshing. The waves of outside influences will always be a factor in our business. As leaders, we will not always be able to avoid the waves of external influence. However, we can navigate them successfully.

The following tools may assist you in navigating the storm:

1. Know that failure is the road to success - In healthy teams, it builds resiliency, exposes weaknesses, and highlights strengths.

2. Be proactive - Reaction to events or circumstances can cause emotional responses that sway from your values or culture. Protect your culture.

3. Be uncomfortable - Sometimes a change is needed. Learn to (as odd as this sounds) rest in this. We get so used to our comfort that we sacrifice growth. Be okay with being uncomfortable. It produces growth.

4. Recenter your thoughts - Do NOT allow fear to overwhelm your clarity and decisiveness. Lean into those you trust. Stand on who you were made to be. Don’t allow your circumstances to define you.

5. Become educated - you could probably open your computer and find information to back any statement made. It can be difficult in this information age to find credible sources. Find trusted sources and people that will provide the education and knowledge you will need to be successful.

Business leaders are a hearty bunch, gritty, and resilient to their core. Successful leaders adapt quickly and overcome. Be who you were made to be. Champion your team and business while proactively preparing for the waves to come.

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