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Five Ways to Be a Great Manager in Risky Environments
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Posted: 02/09/2010
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Down economies present new challenges daily for management. Talent, education, and experience are always important. However, simple logic and thoughtful effort can often separate some managers from the crowd.
Here are five tips that have generated a long track record of success.
1. As legendary baseball pitcher Satchel Paige often stated, “Don’t look
back. Somethin’ might be gaining on you.” Don’t overanalyze your
decisions, before or after, making them. Make the best decision
available in the heat of the moment based on the information you have
and move on to the next challenge.
2. Don’t waste valuable time worrying about future happenings. It’s
okay to admit that you have little or no control over most events
that may occur in the future in risky environments. Concentrating on
those present events upon which you must make management decisions is
a far smarter use of your time.
3. Be bold and take chances. Risky environments are not the time to be
a shy manager. For example, many managers often become static figures
during down economies, apparently fearing making wrong decisions.
Consequently they decide to make no decisions, usually the worst
decision to make. Some observers believe managers have a better
chance to shine during risky environments because much of their
personal competition is reduced to inaction.
4. Always move out of your comfort zone. The natural tendency during
down economies, recessions, and other risky environments is to
retreat to your comfort zone. Fight this tendency as hard as you
can. Embrace action plans involving some risk. Your comfort zone may
have worked in the past, but risky environments demand—and usually
reward—the bold and innovative.
5. Answer the age-old question, “What’s the worst that could happen?”
Athletic coaches, psychologists, philosophers, clerics, motivational
speakers, and investors alike advise their players, patients,
followers, and the public to ask this simple question. It works for
the best managers, too. Anticipating disastrous results that are
much larger than reality is a common human trait. In most cases,
answering this question eliminates much of the fear of failure
inherent in decision making. Seldom does the "worst that could
happen" involve threats to your life, your career, or of
bankruptcy. In a risky environment, even a bold, creative manager’s
failure may be viewed as heroic, ground breaking, and ahead of the
curve thinking.
6. Understand that mistakes and failures can be quite valuable. While
risky environments may involve smaller margins for error, mistakes
typically deliver information that is just as important as that
learned during success.
If you can remove the overbearing weight of the fear of failure during a risky environment, you can move into a positive mode of striving for success and overcoming formidable challenges. Using this attitude to manage in a risky environment and taking advantage of opportunity can lead you to outstanding managerial success, regardless of the industry in which you function.
Source: Kelly Services
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