How to Manage Risk or Uncertainty in Business with Vince Poscente

Jun 22, 2023

How do successful entrepreneurs and business leaders effectively manage risk and navigate uncertainty?

In a recent episode of the Business Growth Show, host Ford Saeks sits down with renowned speaker and best-selling author, Vince Poscente, to explore strategies for overcoming setbacks, maintaining confidence, and embracing uncertainty in the world of business. Drawing from Vince’s wealth of experience and insights, this blog post uncovers valuable takeaways to help entrepreneurs and business professionals thrive amidst challenges and chart a course towards success.

What to Keep in Mind to Manage Risk in Business:

  • The Illusion of Keeping Busy:
    Many individuals perceive themselves as being busy, but they often fail to engage in activities that directly contribute to sales or business growth.
    To gauge your true productivity, measure the time spent directly interacting with prospects or clients. It is often less than anticipated, highlighting the need for focused efforts.
  • Execution Trumps Perfection:
    Waiting for the perfect moment or the perfect solution can hinder progress and prevent growth.
    Taking imperfect action consistently is more profitable and effective than striving for perfection. Embrace agility and prioritize execution over an obsession with perfectionism.
  • Embracing Earthquakes and Aftershocks in Business:
    Massive setbacks, such as personal tragedies or unexpected challenges, can leave individuals feeling paralyzed or unsure of their next steps.
    Rather than succumbing to paralysis, curiosity and creativity can help individuals recover and thrive in the face of adversity.
    The concept of the “solution loop” encourages exploring various approaches until finding a strategy that gains traction and propels progress.
  • Harnessing the Power of the Subconscious Mind:
    The subconscious mind is significantly more powerful than the conscious mind, processing billions of neurons compared to the thousands processed by the conscious mind.
    Aligning the conscious and subconscious minds towards a common goal leads to extraordinary outcomes.
    Recognize the influence of dominant thoughts and beliefs on actions and outcomes, and deliberately shape them to foster success.
  • Designing Your Gold Dot:
    The “gold dot” technique involves creating a trigger, a symbolic visual cue that evokes an emotional response tied to a desired outcome.
    Repetition and visualization of the gold dot reinforces a desired belief or goal, influencing the subconscious mind and directing actions towards that outcome.
    By becoming the architect of your dominant thought and truth, you can proactively shape your mindset and actions to align with your goals.

Effectively managing risk and uncertainty is an essential skill for entrepreneurs and business professionals seeking growth and success. Learning from experienced individuals like Vince Poscente can provide valuable insights and strategies for navigating challenges, embracing change, and maintaining confidence. By challenging the illusion of busyness, prioritizing execution over perfection, embracing earthquakes and aftershocks, harnessing the power of the subconscious mind, and designing powerful triggers, entrepreneurs can position themselves for resilience and achievement in an ever-evolving business landscape.

Remember, success lies not only in having great ideas but also in executing them and adapting to change. Embrace uncertainty, stay agile, and leverage these valuable takeaways to thrive in your entrepreneurial journey.

Meet Vince Poscente: Vince Poscente is a New York Times bestselling author of eight books and has been an in-demand keynote speaker for over two decades. He is an Olympic competitor and inductee into the Speaker Halls of Fame in Canada and the USA. His repertoire of keynotes delivers energy, humor, and practical, take-home tools to accelerate growth. He was rated by MPI/eSpeakers as the top ten speakers in North America and Meetings & Conventions “Meeting Planners’ favorite speaker.”

Find Vince Here:

Show Host: Ford Saeks, Business Growth Specialist, Keynote Speaker, Author and Consultant. Helping you find, attract, and keep your customers. Find out more about Ford