There seems to be more uncertainty in theUnited Statesand in the world today than there has been in a long, long time. In fact, members of Generation X and Millennials have never seen more uncertainty in terms of the economy and the business environment than we are experiencing right now. With the default of a developed country making headlines on a daily basis and constant talks of our own domestic debt ceiling, it seems that uncertainty is all around us.
Entrepreneurs are used to uncertainty. There are only so many factors that can be accounted for, and the difference between failure and success is often a function of how well managers can deal with uncertainty and unexpected events. But most people are not good at dealing with uncertainty. Most people are not entrepreneurs. That leads us to the central point of this article. As an entrepreneur—as an individual who owns a business or wants to start a business—you should be asking yourself one very basic question: “How can I capitalize on the fact that people who are not used to dealing with uncertainty live in an increasingly uncertain world?”
What Seems Like a Problem is an Opportunity
Entrepreneurs have to be good at dealing with the unknown, so the fact that the world is uncertain and the threat of it becoming more uncertain is not cause for concern. If anything, it’s cause for celebration, because it simply means that opportunity abounds. Yes, that’s right . . . uncertainty is opportunity. The better you are at measuring and managing the unknown, the more you’ll be rewarded as the world becomes increasingly complex.
As the world changes, people will face new challenges and new problems. It’s your job to present a solution to those problems. Many times the solution is simply a new twist on an old problem. Think of housing as an example. As population increased in the 20th century, real estate in prime locations commanded a premium. Yet, there was a limited quantity of land to go around. That led to the development of new models of housing like condominiums and town homes. Those are commonplace concepts of ownership today, but at one time they were brilliant innovations.
Your job is to look at the market you wish to serve and determine where it is heading. What will uncertainty in the world cause your market to need and seek? What new products and services or unique twists on existing products and services will serve their needs by minimizing uncertainty and delivering peace of mind? By being ahead of that curve, you will guarantee your survival and success. The key to capitalizing on uncertainty is delivering peace of mind.
We Provide Certainty for Your Business
As a law firm, we are absolutely dedicated to helping you navigate the business environment from the perspective of potential liability, business entity formation, and asset protection. Those are concepts that you’ve probably heard about, and they are definitely worth your time. More accurately, they deserve the attention of professionals who have dedicated their careers to managing the uncertainties of a complicated legal system. And that’s how the economy keeps turning. You help people manage their uncertainties, we help you manage yours, and various other professionals help us manage ours!
The Parents Estate Planning Law Firm, PC
