Dealing with uncertainty in business

Dealing with Uncertainty in Business and Marketing

Dealing with uncertainty in business and marketing can be tricky, especially now when everything changes so quickly. It’s important that we are prepared for the unexpected and learn to navigate change and difficulty in order to weather the storm and sustain our business. Here are a few tips to help you!

Figure out what you can and can’t control

The first and most important thing to do is identify where you are, accept the situation and understand what is or isn’t in your control. For example, not being able to provide lessons in person could be beyond your control, however, you can offer online lessons. You could even optimise your website and productise your business by creating an online course. This is the time to learn to adapt and figure out how your customer experience needs to change so they can still stay in touch with you.

Make sure everything runs smoothly

Dealing with uncertainty in business is much harder if there are areas of your business that are dragging you down. Could you improve your customer service? Are your delivery times too long or is delivery too expensive? Have you had any manufacturing issues with your products? These can really put off existing and new customers, which you don’t want to lose during a difficult time. Be sure to identify any issues by looking at customer feedback and user data and find ways you can fix them asap.

Dealing with uncertainty in business

Keep an eye on the situation to avoid bias

During any uncertainty in your business, it’s important to keep an eye on the situation, the market and your customers’ behaviours to avoid bias. You don’t want to ignore current trends in the market, become stagnant and stick to only what you know. This could be detrimental in a time when you need to be adaptable. For example, your business may have had a shop for years but no online presence. If you’ve had to shut during the pandemic, you may feel compelled to wait it out, however, a lot of trends show that ecommerce is booming and will not slow down. People may no longer be rushing to the high street in the numbers that they used to. You will want to look into adding ecommerce as another arm to your business, so stay open minded and think objectively about what would work for you.

Be creative

Dealing with uncertainty in business may mean that you need to completely restructure your organisation. The way you normally operate might not be entirely viable anymore and that’s okay! Don’t be afraid to try something different and consistently evolve and make changes – you never know where it may take you. Reinventing yourself could lead to exciting new possibilities and even more success than before.

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