flexiblefullpage -
Currently Reading

Mark Richardson: Coping with unpredictability

Advertisement
billboard -
Leadership

Mark Richardson: Coping with unpredictability

When things are unpredictable, our very basic levels of confidence and conviction are diminished. Mark Richardson offers proven ways to deal with the uncertainties in today’s business environment.


By Mark Richardson, Contributing Editor May 18, 2012
Mark Richardson: Coping with unpredictability
This article first appeared in the CB May 2012 issue of Custom Builder.

In business and in life, we plan. We plan based on what we want to accomplish. These plans take into account where we are today and what we think we are capable of. For these plans to be meaningful, we must also look at history. This history addresses the playing field moving forward. Is the playing field one of stormy conditions or smooth sailing? Is this playing field going to be better or worse than the past year or two? The answers to these questions are critical to making your plan meaningful and effective. One’s conviction and belief is critical to one’s success.

Over the last several years, many worlds have been turned upside down. We have seen dramatic changes in real estate values, a roller coaster stock market, and global economic conditions have dramatically changed. While this instability has been disruptive, has it had a dramatic effect on you or your lifestyle? Have you lost your job? Have you had to sell your home to make ends meet? Have you taken your children out of college to help pay the bills? For most business owners or leaders, the answer is no. What is consistent and true, however, is how we look at tomorrow. And the future has dramatically changed. Unpredictability is much more prevalent than predictability.

When things are unpredictable, it changes our perspective, our focus, and our actions. We tend not to look out far and dream. We tend to be much more conservative in our decisions, which is not all bad. Our planning processes and our focus are more micro than macro. Our very basic levels of confidence and conviction are diminished. This leads to weaker leadership, which is rarely good in tough times.

While I cannot help to make the environment more predictable, I can suggest how you might cope with this dynamic better. Here are some tips:

1. Focus on what you know, not what you don’t know. You know your clients need you. You know if you stay engaged with them they are more likely to come back. You know if you have a sale and you improve the margins slightly you will make more money. You know you will only have a chance to score a point if you take the shot. Make a list of these and put your energy in this direction.

2. Force yourself to stretch the longer-term muscles. If muscles are not used, they are not strong. You need to exercise your long-term planning skills if you want to be effective long term. In the past, business leaders committed to growth spent about a third of their time on short-, medium-, and long-term thinking. But over the last several years, long-term thinking has vaporized for many. If you can make an appointment with yourself to spend two hours a week on the longer term, you will be energized and avoid many short-sighted mistakes.

3. Act. If you take action, more times than not, that is better than being paralyzed by the unpredictable nature of things. These actions not only give you an opportunity for some success, but you also send a message to your team that you are committed to them and the growth of the business. These actions are also lessons in ways to crack the code in the unpredictable times. 

In closing, this business environment has thrown us some curveballs. But like a masterful baseball player, you need to learn to hit a variety of pitches to be successful.

Mark Richardson is co-chairman of Case Design/ Remodeling Inc. and the Case Institute of Remodeling. He is a member of the NAHB Remodeling Hall of Fame and a Fellow at Harvard University’s Joint Center for Housing Studies. Richardson is the author of the best-selling book, “How Fit is Your Business?,” and a forthcoming book, “Business Themes to Live By.” He can be reached at mrichardson@casedesign.com.

Related Stories

Custom Builder

HUD Secretary Marcia Fudge Announces Forthcoming Resignation

U.S. Department of Housing and Urban Development Secretary Marcia Fudge has said that she intends to leave office later this month

Custom Builder

Floodproof on a Floodplain

An impressive addition to the IDEA Home series, the NEWLOOK Experience Home is a master class in engineering and creative design, with builder Michael Freiburger out-thinking an exceptionally tricky lot

Custom Builder

Why Start a Custom Building Business?

In this Taking Care of Business segment, expert coach and trainer Scott Beebe joins our host Duane Johns to talk about where custom builders could be getting off on the wrong foot

Custom Builder

3 Questions Answered About Reliable Energy in Home Construction

Energy expert Bryan Cordill makes a case for why and how propane is an answer to growing concerns about reliability and resilience in home construction 

Business

Custom Builder to Talk Color Design with Becki Owens at IBS

At this year's IBS, renowned designer Becki Owens will sit down with host James McClister, editor of Custom Builder, to discuss a variety of topics from basic color play in design to the Allura Spectrum palette, a collection of Sherwin-Williams colors curated for the benefit of pros

Business

PERC Highlights Sustainability and Efficiency at IBS with 'Clean Build Conversations'

Hear from industry standouts Matt Blashaw and Anthony Carrino at this hour-long Show Village event

Business

The Five Foundational Cornerstones

Business coach Scott Beebe shares insights into the often ignored business basics that could be the difference between long-term success and failure

Custom Builder

Start With the Why: Fundamentals of the Custom Builder Business

In our inaugural episode of Taking Care of Business, host and custom builder Duane Johns sits down with Scott Beebe, head coach and founder of My Business on Purpose, to talk vision, purpose, mission, values, and more

Business

Why AI Is Now Key to Our Trade Partner Strategy

Thompson Custom Homes Business Manager Erin Day explains how AI became a crucial part of building and maintaining successful trade partner relationships

Business

Thriving in 2024: Tips for Succeeding in an Uncertain Environment

Author and sales expert Mark Richardson shares his insights on the industry and how to rethink your approach to success in the new year

Advertisement
boombox1 -
Advertisement
boombox2 -
Advertisement
boombox3 -
Advertisement
native1 -

More in Category

Custom Builder

HUD Secretary Marcia Fudge Announces Forthcoming Resignation

U.S. Department of Housing and Urban Development Secretary Marcia Fudge has said that she intends to leave office later this month

Custom Builder

Floodproof on a Floodplain

An impressive addition to the IDEA Home series, the NEWLOOK Experience Home is a master class in engineering and creative design, with builder Michael Freiburger out-thinking an exceptionally tricky lot

boombox4 -
Custom Builder

Why Start a Custom Building Business?

In this Taking Care of Business segment, expert coach and trainer Scott Beebe joins our host Duane Johns to talk about where custom builders could be getting off on the wrong foot

Custom Builder

3 Questions Answered About Reliable Energy in Home Construction

Energy expert Bryan Cordill makes a case for why and how propane is an answer to growing concerns about reliability and resilience in home construction 

boombox4 -
Advertisement
native2 -
Advertisement
halfpage1 -