We are in some crazy times.  Many small business owners are feeling out of control, overwhelmed, uneasy, and a bit vulnerable.  While many of them are seeking business coaching to help them navigate through some rough waters, others are unsure of what actions to take, if any.  When so much around us seems to be truly crazy (stock market, economy, credit markets, mortgage industry meltdown, presidential politics, government bailouts, etc.), what is a business owner to do?

I think it's best to elevate above all the gloom and doom talk.  Take a deep breath, keep a long-term perspective, review and update your business plan (or get one!), and try to control what you can and make positive adjustments.  Stop being reactive to the daily news and stock market gyrations ... instead, plan your work and work your plan.  Stop stressing yourself out over things you can not control and focus on those things that you can control.  Also, stop focusing on what you don't want and focus on what you do want.  Finally, stop focusing so much time on the problems and more time on solutions that make sense for your business.

I was recently reminded of a powerful quote and prayer that seems to be very relevant for small business owners, especially in crazy times.  It goes something like, "God grant me the serenity to accept the things I cannot change, courage to change the things I can, and the wisdom to know the difference."  There is lots of useful wisdom in that quote for business owners.  My hope is that more small business owners adopt it and implement it, especially during crazy times.

Let's examine the first part of that quote ..."God grant me the serenity to accept the things I cannot change."  In other words, stop trying to control and change the universe.  You are not all powerful and all-knowing.  That role is already taken!  For you to enjoy peace of mind, you need to learn to let go.  To surrender to things bigger than you and out of your control.  Stop wasting your limited time and energy on matters you can not and will not be able to control or change.  Otherwise, you will drive yourself and everyone else around you nuts.  So step one is to learn to accept the things you cannot change ... the economy, your competitors, the stock market, credit markets, the overall government, etc.

Part two of that quote is asking to receive the "courage to change the things I can."  This is very necessary to help you avoid denial and burying your head in the sand.  We all need courage and fortitude in crazy times to change what we can and what we should.  We need to boldly go forth.  We need the courage to steer our ship and adjust our course to get better results in business and life.   

What can a business owner control and change?  Lots of things.  Regarding self management, you can steer your own mindset, attitude, thinking, focus, priorities and daily actions.  Regarding business management, you can steer your team to improve your company's selling, marketing, services/products, customer service, innovation, business model, cash flow management, and expense reduction, to name a few.  Remain the captain of your ship, know your destination with clarity (vision), navigate your course with your map (business plan), and make adjustments along the way.

What are other owners doing right now? A recent Entrepreneur Magazine poll captured the steps owners are taking today to guide their company through the economic downturn and crazy times:  28% are marketing aggressively; 22% are cutting expenses; 17% are focusing on cash flow; 17% are modifying their business model; and 17% are doing a host of other things.  Do you have the courage to take such steps?  Which ones should you take action on immediately?

Part three of the quote is asking for wisdom ... to know the difference between what you can and can not change.  Ask yourself, "Is this matter within my control?"  If it is, then ask yourself, "Is it worth my time and energy to try and change it for the better?"  If not, let it go!  Have the wisdom to pick something else you can change and improve about your business and life.  Stop wasting time and energy on matters beyond you.

While these are crazy times, also be sure to count your many blessings as an owner -- the opportunity to have freedom, flexibility, fun, fulfillment, and financial success.  You also get to be in charge and can control many more things than if you were an employee.  As an owner, you can steer your ship and make course corrections as you see fit. 

But don't fall prey to the belief that you can control and change EVERYTHING.  Remember to say this quote/prayer often, "God grant me the serenity to accept the things I cannot change, courage to change the things I can, and the wisdom to know the difference."  

Daniel M. Murphy
The Growth Coach
Business Coaching Franchise System