3 Ways Entrepreneurs Cope with Major Change
Entrepreneurship has been called the science of change. So how do entrepreneurs cope with major change? We share three ways.
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We discussed what makes entrepreneurs masters at managing change on The BIGG Success Show. Here’s a summary of that discussion.
At times, we expect (and perhaps initiate and even desire) life transitions:
- changing a job or career
- getting married
- having a new baby
- going back to school
- starting a business
- seeing our last child move out
- retiring
We like change when we’re the driver. But, even then, it can be stressful.
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- the sudden loss of a job
- the death of a friend or family member
- divorce
- a debilitating injury
- sudden illness
- a child returning home
Then, there’s now: We are facing a medical pandemic, an economic pandemic, and a social pandemic. It’s hard to think of a time in history when you have three such significant events converge together.
So what do you do in a time like this? How do you deal with the physical, mental, and emotional turmoil?
Today, our NEED to cope with change is greater. So, our ABILITY to cope with change must be greater.
To help you grow your cope-ability [yes, we know – we invented a word here, but it fits so well!], look to entrepreneurs.
Successful entrepreneurs are masters of change. In fact, entrepreneurship has been called the science of change. So how do entrepreneurs cope with major change? We’ll share three ways.
1st) Think about control
Entrepreneurs like to feel like they’re in control. It’s one of the motivations many of them cite for starting a business. So, as you weigh the impact of the major change, ask:
What can you control?
What can’t you control?
You can’t control everything. However, you have 100% control over how you respond to anything. It’s one way that entrepreneurs cope with major change.
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2nd) Revisit your vision and mission
How does the change affect your vision? Your vision is your destination. It’s where you want to go.
You want this to be fairly fixed. However, you can’t stick your head in the sand.
For example, you may have envisioned retiring this year. Maybe the plan needs to be altered somewhat.
Why is it so important for you to reach BIGG success? This is your mission.
It’s more fixed than your vision. However, opportunity is often uncovered in the ashes of major change.
Take Josh Opperman, for example. He came home from work one day to find his fiancé had moved out and moved on. All she left was the $10,000 engagement ring he had given her. He tried to return it to the jeweler where he bought it. They would only give him $3,000. So he started I Do Now I Don’t, to help spurned people sell love-lost jewelry for more money while giving buyers a better deal.
3rd) Keep your values in view
We tend to think of values as unmovable. Rightly so. But ethical dilemmas enter the picture when two or more values are at odds with each other.
Does the change challenge any of your values? If so, how will you reconcile the situation so you can sleep at night? Keeping your values in view leads to BIGG success!
FREE Personal Vision – Mission – Values Worksheet
Vision, mission, and values compose what we call the Power Triangle of BIGG Success. Get this FREE 1-page worksheet to help you write your vision, mission, and value statements, keep them in front of you, and review them regularly. Right now, it’s FREE! So get your copy today!
Here’s to your BIGG success!
George “The Professor” & Mary-Lynn
Co-Founders, BIGG Success
Direct link to The Bigg Success Show audio file | podcast:
https://traffic.libsyn.com/secure/biggsuccess/01019-060320.mp3
