Transform Challenges into Business Bitcoin

Bitcoin floating in air before computer screen

You have an opportunity to do things that surprise you, but it takes guts. This is how you live a full life and succeed in ways you didn’t expect were possible.

Not because you are taking big risks, but taking daily small risks that compound over time. Spending time on the projects that will give you the gains you seek. It’s often hard to see how these small risks will pay off. It’s why it’s so hard to create a new habit. We don’t get instant results.

If we want our savings to make more money, we need to invest in assets (stocks, Bitcoin, real estate, etc.) these opportunities come with risks, but they are calculated risks to achieve the growth we seek. These small deposits will compound over time.

That’s why Warren Buffett suggests that people just DCA (Dollar Cost Average) in each day, week, or month into the S&P 500 or something similar. You don’t have to time the market, you just put it in and even if the market goes up or down you will make a lot of money over the long run because these assets can be sold at a later date for more money than you put in.

It sounds simple, but our brains don’t like this kind of challenge. Our natural tendency is not to think about one year, five years, or ten years down the line. We don’t get the dopamine release from slowly investing in the stock market, ourselves, or projects with high upside potential.

Many leaders will continue to invest in more short-term gains. This is not what I’m about. I’m about creating systems that create lasting gains over time.

Once you agree with this strategy, the next step is to decide which opportunities to pursue in your business and then create systems to succeed.

There are so many easy, low-risk, challenging, or high-risk opportunities. This is why your vision of what you want to accomplish is so important. You have to stay true to what you really want out of your business, career, and life.

Opportunities can often feel like a double-edged sword, presenting both potential for growth and the overwhelming challenge of the unknown. 

Taking action on the right opportunities takes courage. We don’t know what the “right” opportunities are until we begin dipping our toes in the waters. I started investing money in Bitcoin years ago, and at first, I was unprofitable, but like any good investment with good fundamentals, it goes up over time. Now, I’m way into profit.

Ana’s Opportunity

A few years ago, I was working with a client. Let’s call her Ana. She was super smart and hardworking but wasn’t getting anywhere in her career. So, I asked her a straightforward question:

“What do you really want out of your career?”

“I don’t know. I don’t want to work late and not be home for my kids. I don’t want to do too many things, which is causing me stress. I don’t want to be in finance anymore.” She paused. “I’m just telling you what I don’t want.” She laughed.

“This is good, keep going,” I encouraged her.

“I don’t want a boss that is a micromanager. I don’t want to be a micromanager. I don’t want a long commute. I want to lead employees that care. I would prefer to work from home if I could.”

As we got through what she didn’t want, I asked her again, “What do you really want?”

“I want to work for a non-profit that helps dogs.”

“Interesting. Why?”

“Because dogs are the best.”

You must take back control of what you work on and how you do it. As a leader, you have to prioritize your happiness. It’s up to you to have the vision and courage to make it happen. 

Obstacles

Ana asked herself what she really wanted out of her career, which helped her develop a vision for her life. Leaders should ask this question to all their employees. They can help the employees find new opportunities based on what they enjoy doing and align with their strengths, which creates better outcomes for the employees and the company. 

If an employee moves on because they realize they aren’t happy, this will open up space for someone who wants to stay. This kind of turnover is good for the company.

Ana and I began to research the opportunities in the space. She settled on volunteering at her local dog shelter, which helped her understand her passions more clearly. She began volunteering once a month at the shelter. As she began to make friends with the employees and other volunteers, she met a woman who worked at a non-profit for distressed youths. She needed a director of programming. She interviewed for the job and got it.

After a few weeks at the new job, she told me about the job. I asked her what she liked. She said that what she wanted was to make a difference. She felt like her previous role didn’t have a purpose. They were aimless.

I asked her if she shared this with the company in her exit interview. She said she didn’t have an exit interview. Another lost opportunity for the company.

That’s why we ask probing questions. These questions help us get to the heart of issues. Obstacles? Distractions? Limited resources? They’re all lurking in the shadows, ready to derail our quests. We’ve got the spotlight to shine on these sneaky saboteurs, unveiling their hiding spots and plotting our course around them. Think of it as setting up road signs that say, “Detour: Success Ahead!”

Creative Solutions

Seeing obstacles as opportunities in business is a powerful mindset that can transform challenges into springboards for growth and innovation. 

This perspective is crucial for several reasons:

People who view obstacles as opportunities develop a culture of resilience. They’re more likely to bounce back from setbacks and adapt to changes in the market or operational challenges. This adaptability ensures long-term sustainability as the business becomes adept at navigating uncertainties and turning potential threats into avenues for improvement.

Challenges often force businesses to think outside the box and find creative solutions. This necessity can lead to breakthrough innovations, whether in products, services, or processes. By viewing obstacles as opportunities, companies are more inclined to experiment and take calculated risks, leading to discoveries that can set them apart from competitors.

When obstacles are seen as opportunities, they encourage a proactive approach to problem-solving. If the company had done an exit interview with Ana, it might have realized that it had a culture problem. Only when you ask questions do you find answers. Leaders can learn to anticipate challenges and think critically about how to overcome them. This skill is invaluable in business, as it enhances the team’s ability to deal with future obstacles more effectively, fostering a mindset of continuous improvement.

Teamwork

Facing and overcoming challenges together can significantly boost team morale and engagement. Employees feel more invested in the success of the company when they see their efforts leading to tangible improvements. This sense of accomplishment and purpose can enhance job satisfaction and loyalty, creating a more motivated and productive workforce.

Leaders who successfully turn obstacles into opportunities often gain positive attention from customers, investors, and the media. This can enhance the company’s reputation, showcasing its resilience, innovation, and leadership. Such recognition can attract new customers, talented employees, and potential investors, contributing to the company’s growth and success.

Viewing obstacles as opportunities promotes a culture of continuous learning and development. Each challenge becomes a lesson in disguise, offering insights into what works, what doesn’t, and how things can be improved. This commitment to learning keeps the business ahead of the curve, always evolving and improving.

Competitive Advantage

Leaders that thrive in the face of adversity often develop a competitive advantage. They’re able to turn challenges like culture issues that might stymie others into stepping stones, leveraging these situations to innovate, cut costs, improve efficiency, or enhance customer satisfaction. This agility and problem-solving capability can make them more formidable competitors in their industry.

Viewing obstacles as opportunities is not just about maintaining a positive outlook; it’s a strategic approach that empowers businesses to leverage their challenges for growth, innovation, and competitive advantage. This mindset transforms the landscape of business challenges, making the journey of overcoming them a source of strength and differentiation.

This mindset shift begins with embracing a culture of continuous improvement, where challenges are dissected into manageable segments, allowing for regular adjustments. These adjustments make a lasting impact.

Taking advantage of the right opportunities requires allocating the right amount of time and energy to the most valuable projects. 

Then it’s all about putting systems into place that allow you to create your desired outcomes. In Ana’s case there were struggles that could have been amazing opportunities. The company could have implemented better process design, roadmapping strategy (Get the Roadmapping Guide) to help them focus on the valuable projects, a coaching system and so many things to help, but they didn’t. It seemed too hard.

Each struggle is an opportunity to do something special. It just takes a mindset shift to make it possible. This is why quality systems matter. To get better output, you need better inputs. This is part two of the VOSI Method. Today we focused on opportunities. You can read part one to understand how to get clear on your Vision, so you stay focused on the work that will generate the most value for you and others.

Click here to read the next article about building Systems that help you improve your inputs so you get better outputs. (Coming soon!)

Photo by André François McKenzie on Unsplash

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