This Friday’s mentorship lesson is about anticipating, identifying, and solving massive problems you may encounter. #business #challenges #entrepreneurship
I’m talking today about how to get out of a fire. A fire is a problem. A fire is when everything goes to crap. You somehow think it’s going to go away, but it doesn’t go away. I’m going to teach you eight steps that I’ve learned over the years on how to deal with very difficult situations as a business owner.
Know When You’re About to Get Torched
Steve Jobs talked about seeing around corners. You need to start seeing patterns. Start reading the tea-leaves. Be psychic. It’s using your intuition to read patterns and notice problems that may occur.
If you can see the problem before it happens, you can pivot or mitigate it sometimes.
Know When the Match Has Been Lit
Maybe this is a legal letter or a seriously bad review. Whatever it is, it’s a serious issue that needs immediate attention.
Understand It Can Happen Immediately
Boom, you’re in it. You can prevent it now. Accept it. It’s “go time”
Don’t Try to Figure Out Why It Happened Immediately
This is a common mistake and not the appropriate time.
Get Out of the Fire Immediately
It’s not time to throw people under the buss or blam anyone. It’s time to get out of the fire.
Evaluate Your Options
You may have quicker options than others but you must look at all of them. Resolve a bad review. Fix your culture so you stop hemorrhaging employees.
Create a Plan to Mitigate the Damages
You may not be able to fix it completely. You’re going to get burned. There’s going to be collateral damage. Find how to get out of the problem with the LEAST amount of damage!
Look Back How You Got into the Fire
Now that you’re out of the fire and/or mitigated the damage, you can figure out why and how it started in the first place. When you do that, you can prevent it from happening again.
