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Monday, March 28, 2011

Turbulence in your business and how to deal with it | A NOTE FROM THE FOUNDER

Turbulence in your business and how to deal with it

by Adam J. Kovitz

Turbulence's a fact of life. We all know it's out there and we try to avoid it as much as possible as business owners, but sooner or later we all have to deal with it. And while officially there are two ways of handling business turbulence, there's really only once way. Let's take a look a bit further...shall we?

First we'll start by defining turbulence. According to Webster's, there are three definitions:
  1. a state or condition of confusion, movement, or agitation; disorder
  2. meteorol local instability in the atmosphere, oceans, or rivers
  3. turbulent flow in a liquid or gas.
No matter the definition, turbulence is a noun to describe a stimulus that results in disorder and/or instability. In human psychology, traumatic stimuli often leads to the triggering of the fight or flight response in us all. So whether we're business owners or commercial airline pilots, we can face challenges by either running away from them (through avoidance or denial) or dealing with them head on. In such real life situations, we can't afford to fall to pieces when we have others who depend upon us therefore, handling the situation is the only solution to living through turbulence.

So how do business owners deal with turbulence?

The same way airline pilots do. According to a recent article in entitled Don't let turbulence freak you out, I found that the means for dealing with such instability and disorder is the same in flying as it is in business:
  1. Remember that it's never as bad as it seems - studies show that worrying can have detrimental effects upon your help and does not lead to productive strategizing to solve the dilemma. Take the time to speak with your staff or outside sources who may have solutions or have even been through the problem before.
  2. You aren't going to crash - being an entrepreneur or small business owner is never easy, and where some businesses end, new opportunities await around every corner and life goes on. Look over crowdsourcing sites and other networking communities online or off and you may be in the position to find the next meaningful business endeavor.
  3. Fasten your seatbelts - all business is a roller-coaster ride. It's supposed to be bumpy, thrilling and even chilling. Just like aircraft are designed to stay up in the air, your business must be designed to do the same. Spend time inspecting your business model. Have others review it. Be self-critical and look for all the weaknesses. By identifying all the gaps, you and your team can identify solutions to become even stronger than before.
So the next time you feel the need to reach out for the laminated bag in the pocket of the seat in front of you, keep these above tips in mind. And if your own business turbulence is related to capital, marketing, technology, talk with the experts on your team, whether they're in-house or paid consultants or just friendly advisers. Of course, you can also reach out to us at TNNWC. We're always happy to help our fellow entrepreneurs navigate through the ofttimes unfriendly skies of business growth.

All my best,


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The Emergence of The Relationship Economy

The Emergence of The Relationship Economy
The Emergence of the Relationship Economy features TNNWC Founder, Adam J. Kovitz as a contributing author and contains some of his early work on The Laws of Relationship Capital. The book is available in hardcopy and e-book formats. With a forward written by Doc Searls (of Cluetrain Manifesto fame), it is considered a "must read" for anyone responsible for the strategic direction of their business. If you would like to purchase your own copy, please click the image above.


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