How SMEs can bounce back after uncertainty

economic uncertainty

A number of surveys by the Australian Bureau of Statistics since the COVID-19 pandemic started have shown a devastating impact on people’s lives and minds.

With financial stress known to be one of the leading causes affecting mental health and well-being, perhaps the biggest virus of 2020/21 is actually living in the six-inch-space between our ears. And this virus is called Fear.

Fear impacts people’s lives, minds and businesses in different ways but ultimately, it holds people back from achieving goals, pursuing dreams and believing in possibilities.

In the past 18 months, even for the most optimistic entrepreneurs, it has been hard to see possibilities when uncertainties fill the air.

Many business owners are wrestling with three common concerns:

  • I don’t know how I am feeling…
  • I don’t know what I need to be doing…
  • I don’t know if I should keep going…

Whether or not the fear experienced is “false evidence appearing real”, the feelings of doubt, worry and frustration are very real”

As a business owner who needs to lead the team, give instructions and show the way to the future, you must do all you can to not let fear step on you. None wants to flatline. So, the best way to overcome fear is by stepping on it!

There are four processes to S.T.E.P. on Fear:

Setting of the mind

Everything starts with the mindset. When fear steps on us, it causes a brain fog that makes it difficult for us to punch through the situation we are in. A simple exercise can re-wire the brain by resetting the mind: Raise your hands and stretch in the air to repackage the fear that is clouding over your head and place it under your feet and step on it! As you are doing this exercise, put a smile on your face and a pat on your back then speak out loud, “I am stepping on fear!” It may sound silly to the average business owner, but it works!

Tools of the kind

Opportunity is everywhere and the key is to develop the vision to see it. Creativity and talents are all around you when you see through the lens of faith. Visualisation is about seeing the goals as already complete in your mind’s eye. By keeping that vision strong, you attract like-minded people who share your vision and can back you up in the toughest moment and propel you forward with the timely resources.

Enjoy of the find

As you turn every obstacle into a stepping-stone on your journey of “S.T.E.P. on Fear”, you may also discover news ways of doing business, new ways of relating with customers. Remember to enjoy these new findings, and treasure those who help you along the way.

Purpose that binds

Gratitude goes a long way and leads to greater life satisfaction and happiness. And whilst it’s hard for small-business owners to feel grateful when such uncertainty and potential closures loom, being grateful for what you DO have will always help to not only lift your spirits, but attract more of those good things into your life. To paraphrase a famous quote, “your thoughts become your words, your words become your action, your action becomes your habit, your habit shapes your character and your character shapes your life!” Don’t let fear hold you back!