What are you looking forward to in 2023?
It’s not a stretch to suggest that the average American entered this year with a gloomy outlook. Donald Rumsfeld’s rambling description of uncertainty best sums up the general mood:
“As we know, there are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don’t know. But there are also unknown unknowns. There are things we don’t know we don’t know.”
Americans are reaching the end of their tether. Collectively, we don’t know what we don’t know, and it’s wearing us out. According to a recent Gallup poll, about eight in 10 foresee economic struggles, anticipate higher taxes & budget deficit, 90% expect political conflict in the U.S., and 85% predict international discord. Over half of Americans think that unemployment will rise in 2023.
Uncertainty isn’t necessarily bad. Humans have adapted to make decisions in the absence of perfect information, and it’s in our best interest to assume that things will generally work out. We don’t always expect to see a Grim in Trelawney’s tea leaves. Every New Year, it’s fun to imagine what the future will look like. In 1923, a futurologist predicted that in 2023, “watch-size radio telephones will keep everybody in communication with the ends of the earth!” If we stopped dreaming about our possibilities, the future would be very boring, and Apple watches would have never been invented.
But studies suggest that uncertainty, especially when we don’t know what we don’t know, can be incapacitating in at least two ways.
First, we experience a phenomenon known as the uncertainty effect. We normally make decisions for the future based on past experiences. When we’re in uncharted territory, our amygdala fills the information gaps with fear. Fear keeps us from focusing on the possibility of a future reward. We anticipate the worst-case scenarios, and we use speculation to justify irrational decisions.
Second, fear of the unknown creates “intolerance of uncertainty”. We flatly don’t want to make any decisions because our brain is telling us to avoid risk.
If you’re the leader of a tech startup, you’re no stranger to uncertainty. You understand the necessity of decision making in the context of uncertainty. According to Gautam Adani, “Business is all about risk taking and managing uncertainties and turbulence.” This is what gives you a competitive advantage. This is why you’re able to thrive when others lose their nerve after skimming the headlines.
Now is the time to block out the chatter, accurately analyze your situation, and keep moving forward. This is a strategic time to build your team.
1. Make a plan.
Clarify your mission. Why does your company exist? In an economic downturn, there’s no margin of error. If you define what you do, you’ll know what you don’t do.
When your mission is compelling, and your people know how they contribute to its accomplishment, it encourages ownership and commitment. It also clears up any ambiguity that feeds into uncertainty.
2. Determine what resources you need to accomplish your mission.
The right people are your company’s most valuable resource. Without the right people, you can’t accomplish your mission. Which roles will you need to fill? Your company will need to create a strategy and implement a hiring process long before you start recruiting.
3. Find the right people.
Create mission-focused job descriptions. This is a candidate’s first impression of your business and product. It helps you set clear expectations during the hiring process, because it’s an accurate definition of what it’s like to actually work at your company. This is the best way to tie key responsibilities to your company’s mission statement, so that each employee understands how their role directly contributes to accomplishing the mission.
Determine an appropriate skill assessment. It’s important to figure out which skills will be needed from Day One, and which skills can be learned through ongoing training.
4. Prioritize a healthy corporate culture that attracts and keeps the right people.
A healthy culture prioritizes inclusion and diversity. This insulates your people from the bleak headlines. Each person feels welcome, and they’re confident that their unique perspectives, skill sets, and experiences contribute to business solutions. A culture also creates open space to communicate. This allows for healthy dialogue, questions, concerns, problem solving, and conflict resolution. When information is accessible to everyone, it minimizes insecurity and increases trust and stability.
If your culture isn’t established before you initiate the hiring process, then you’ll struggle to attract top talent.
5. Create your hiring pipeline before you need to hire.
It takes time to build relationships with candidates. The more people you connect with, the more flexibility you’ll have when you’re ready to hire.
There’s no better time than the present to invest in your Dream Team. Reach out with any questions- I’d love to get on a call and talk through your strategy.
This year, you have a lot to look forward to- we just know it!
