Many businesses have been hit hard by the current crisis and many entrepreneurs are desperately seeking ways to replace lost income. And yet, other businesses seem to sail through even the worst of downturns.
What makes the difference? A huge factor is whether you, as a business owner, understand uncertainty and know the right strategies to respond. And in this video, we take a deep dive into exactly that.
In case you haven't seen it yet, check out part 1 here.
Topics Covered in This Episode
- What everyone gets wrong about uncertainty (because the human brain just isn't made to fully understand what uncertainty even means).
- How knowing what you don't know can save your butt in a crisis.
- Strategic approaches (and examples) for how to survive and thrive in a short runway, medium runway and long runway scenario (click here to learn what all the runways are about).
- Probablistic thinking, "future headlines" and other mental models that can help you make sense of all the chaos.
Links & Resources
- Superforecasting by Philip Tetlock - excellent book about the typical failings of trying to predict future outcomes (and ways around them).
- Stretch by Scott Sonenshein - discover why some organizations are so much more resourceful and creative than others.
- The Lean Startup by Eric Ries - the now legendary book on how to bring an agile approach to entrepreneurship. Good read, although it won't save you in the crisis (as discussed in the video).