NEWS + ADVICE
Fear, Uncertainty and Doubt Can Be a Time Killer
Fear, uncertainty and doubt are things that occupy our computer screens and minds on a daily basis. There are very few places we can go that do not hold some kind of uncertainty about our future.
We see this happen every four years as the nation contemplates a change in administration. But unlike massive weather changes, we know that there will be some disruption to our normal business cycles each election year and with a new administration.
Unlike Brexit for the UK, the administration change will not have a major immediate impact on U.S. hiring. What will have an immediate impact are companies who hold off on making any decisions about company plans until after the election, when they’ll have a better understanding of the new administration’s strategy. This will stalemate business for several months.
“The only thing we have to fear is fear itself – nameless, unreasoning, unjustified, terror which paralyzes needed efforts to convert retreat into advance.” FDR – First Inaugural Address, March 4, 1933
The first time I really understood the effects of fear was actually from a very different source and reaches back to my sci fi passion (no mixing of sci fi descriptors here). Yes, the famous Bene Gesserit “Litany Against Fear” from Frank Herbert’s “Dune”:
“I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.”
Fear can be a very powerful force, but it is one that tends to hinder rather than help. Yes, it can be helpful to have a little fear to create contingency plans if disaster does strike, but wouldn’t it be better to be proactive rather than build a cocoon of fear? The activity of worrying about the unknown occupies a fair amount of our time from how will we handle a possible budget action months in advance or a weather pattern. We know being gripped in fear is one of the worst places to be if we want to move ahead in a business venture or our career. Yet this is where most of us stay.
Why is it easier to commiserate about our fears? Fixate on the unknown? Or research how really bad things could possibly be? We saw this happen in 2013 when all of the local media fixated on sequestration.
“Fear makes the wolf bigger than he is.” German Proverb
One of the other fears – besides how many inches of snow we will receive this winter – is the effects of government changes on our economy after the period of indecision is over. Programs and priorities may change.
While budget changes impact us, they do spur creativity and innovation, which is not only good for business, but our economy as well.
Out of every cycle in an economy there are always examples of companies and leaders who were prepared to move ahead. They were not gripped with fear, but planning on how to make the most of the situation.
“[Recessions] can cause people to think more about the effective use of their assets. In the good times, you can get a bit careless or not focused as much on efficiency. In bad times, you’re forced to see if there is a technology [that will help].” – Craig Barrett, Chairman of Intel
Another example before many of us were even in the workforce:
“The Toyota production system was conceived and its implementation begun soon after World War II. But it did not begin to attract the attention of Japanese industry until the first oil crisis in the fall of 1973. Japanese managers, accustomed to inflation and a high growth rate, were suddenly confronted with zero growth and forced to handle production decreases. It was during this economic emergency that they first noticed the results Toyota was achieving with its relentless pursuit of the elimination of waste. They then began to tackle the problem of introducing the system into their own workplaces…Prior to the oil crisis, when I talked to people about Toyota’s manufacturing technology and production system, I found little interest.” – Taiichi Ohno
There will always be changes in your business and shifts in your priorities. Rather than being gripped by fear, accept that there frequently will be some kind of “change” in your life. Try being flexible and prepared to take what comes your way, rather than holding tightly onto your fear. This will allow you to move more effectively through whatever storm comes your way.This entry was posted on Wednesday, July 13, 2016 8:32 am