How to Handle Problems in Your Business with Confidence and Ease
with Erik Huberman
with guest Erik Huberman #MakingBank S6E1
The inevitability of facing problems in your business is one of few guarantees in the world of entrepreneurship. Whether you’re brand new or have been wildly successful for decades, the size and scale of the problems you encounter will only grow with you. The important part is being able to shoulder the responsibility with grace while having the confidence to problem solve as you go. You won’t always be able to predict the conflicts that may come your way. With a bit of preparation, humility, and a mindset of true ownership, you’ll be able to tackle any crisis that comes across your desk.
Erik Huberman is the founder and CEO of Hawke Media, the fastest growing marketing consultancy in the United States. Initially launched in 2014, Hawke Media has been valued at over $75M and has grown to over 150 employees across three major U.S. locations. Hawke Media has worked with over 2000 brands of all sizes, ranging from young startup companies to household names like Redbull and Verizon Wireless.
As a serial entrepreneur and well-known keynote speaker, Erik is a sought-after thought leader and business expert in the world of digital marketing, leadership, sales, and entrepreneurship. During his interview on the Making Bank podcast, Erik shares his top tips for pushing past imposter syndrome, how to face problems that come up in your business, and the best metrics to follow when measuring success in the world of marketing and e-commerce.
Back to Basics
Step one: humble yourself. There’s never going to be a point in your business where you’ll be free of conflict entirely. Even the largest multi-billion dollar corporations are fielding many crises of their own.
Take a moment to sit yourself down and really accept the role you’ve taken on. As an entrepreneur, you will always be at the helm of the ship. That doesn’t mean you need to be overworking yourself or blaming yourself for anything that goes wrong, but it does mean you’re the Chief Problem Solver of your business. You will always be learning and improving. Your business is always growing, no matter what the numbers say. There is always something to be learned from any challenging situation; make sure those lessons never go to waste.
Erik tells podcast listeners, “If you don’t want to be an entrepreneur, go get a job.” Entrepreneurship is a life of independence, unlimited potential, creativity, and freedom, but it’s also a life of responsibility and accountability. That never changes. If the weight gets too heavy, you can always find a different job.
There will ALWAYS Be Problems
Understanding you’ll always be problem-solving and that the challenges will simply grow alongside your business allows you to gain the upperhand. Erik says, “Once you accept that, running a business is 800 times more fun.” When conflict hits the company, you get to handle it because you’re the owner. It almost becomes a perk of the job when you know to expect it, rather than a dreaded unknown constantly lurking in the back of your mind.
Plus, Erik reminds podcast listeners that if your company is doing particularly well, that makes you a target and you’re even more likely to face conflict because of it. Accepting the presence of challenges as a constant gives you a backwards element of predictability to your business, even if you don’t always know what the problem will be. You know to plan for and set aside some bandwidth for problem solving, at all times, no matter what.
When you’ve done the introspection and you know you want to be an entrepreneur and you accept the inevitability of dealing with problems, you’ve made it. Erik says, “[Handling conflict] is really the only downside of running a business.” Everything else is in your zone of genius and you’re fully equipped to scale and grow with ease.
Confidence Comes from a Mentality of Ownership
You’re going to make mistakes, and you’re going to experience periods of volatility. Keep your cool, don’t blame yourself, and draw on past successes. Once you’ve weathered one storm, you can weather them all.
As the owner, you’re going to deal with the biggest problems. Your team will come to you with their unanswerable questions, and their biggest stressors. You get to be their leader. What lessons are hiding under those challenges? Teams and leaders that face difficulties together emerge smarter, more prepared, and with a greater perspective and appreciation for whatever the issue is. It’s only a failure if no one learns anything.