 Navigating a trade war can feel like sailing through a storm. But remember, you're the captain of your ship. Small to mid-size companies face uncertainty every day. This trade war includes some of that kind of uncertainty. How much will supply costs rise? What will happen to inflation? What will happen to exchange rates, interest rates, etc.? What will happen to our customers and markets? However, there is an additional kind of uncertainty present in a trade war like this one: complete unpredictability. The US tariff decisions that triggered this trade war have been and are still being made by one person, the President of the United States. It’s very difficult, if not impossible, to tell what decision he will make next. There are no emerging trends to track and predict. This is not driven by economic data that can be modeled. Nor does much of it seem logical, rational, or informed. We may one moment think we know what will happen next, and then things go very differently. We may think we have some insight into the intentions and strategy of the US president. Then he makes a very different decision, and we realize we were wrong. The chaos, uncertainty and unpredictability can trigger feelings of stress and anxiety. And CEOs are not immune. This trade war can also trigger stronger feelings. Millions, if not billions, of peoples’ lives could be affected. And yet the President’s actions may seem to some to demonstrate little care for those people. And his approach to the situation can seem unethical and inhumane to many. If not mindful, we can find ourselves feeling frustrated, angry, disappointed, or bewildered. This does not bode well for our ability to deal with the situation for and with our employees, customers, suppliers, and business, let alone prepare for what could unfold. So, I invite you to ask yourself the following self-care questions in order to be your best, as you navigate this journey as a human being:
Never give these things up. There may be challenging days ahead. We need all our faculties to lead, make difficult decisions, and model what we expect from our team and employees. For other ways to navigate these challenging times with confidence, get the free complete Trade-War Success Guide for Small to Mid-Size Companies below: Comments are closed.
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