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How to deal with uncertainty as an entrepreneur



As an evolutionary hypothesis our brain avoids uncertainty because, according to this article in Forbes, when we’re not sure what awaits us a particular area of our brain called “amygdale” gets activated and the same area is stirred up when we are confronted with fear and threat. This also leads to a decreased activity in the striatal system that is stimulated by potential rewards. Since most of our actions are based on the probability of getting rewarded we seem to be less inclined towards situation and circumstances that are full of uncertainties.

In the primitive sense uncertainty can be easily attributed to some lurking danger. Not knowing what lurks around you could cost you your life, so obviously it was a grave issue. Your first instinct was to avoid uncertainty because it would prove highly costly.

Being an entrepreneur uncertainty is a regular part of your life. Unlike your normal job work is not handed out to you. You need to make decisions that are critical to your survival. Responsibility is not delegated to you as you are yourself responsible for the entire hierarchy of your business. So how do entrepreneurs deal with uncertainty if by nature we are programmed to loathe it?

Get used to the idea of dealing with uncertainty

As an entrepreneur, the author of the above-mentioned link says, you get used to dealing with uncertainties. There is no other choice. It is like, if you want to cross an ocean (and not by air) you need to deal with water. People choose the path of entrepreneurship knowing quite well that they will need to deal with uncertainties all the time because the business does not depend on just a single person or a single factor. You can work hard and you can also put in inhuman hours, but if your suppliers don’t deliver on time or if your customers and clients don’t stick to their payment schedule there is nothing much you can do. Does it mean you leave your business to fate or other people? Certainly not. It means always being prepared to deal with such uncertainties and take measures that help your business survive.

They are always creating systems that are foolproof. They never put all their eggs in the same basket, they always have the so-called “Plan B” and they are fully aware of the fact that doing your own thing is never a cakewalk.

Have confidence in your idea and ambition

Deciding to become an entrepreneur is a life altering decision. You need to know what you’re doing, you need to be sure of your abilities and the potential of your idea. Believe in your instinct. When you believe in yourself, when you know that what you’re doing is right you are automatically well-equipped to deal with uncertainties.

Read the remaining points in the article linked to above.