How High-Quality Problems Can Lead To Greater Success
Have you ever stopped to think about the problems in your life? High-quality problems can lead to greater success. Perhaps you’ve realized there are very few problem-free times in your life? Everyone has problems and challenges they have to face personally and professionally. While you can’t change everything that happens around you, you can choose how you respond.
It’s your response to the problem that determines how you come through on the other side.
Think about the time when you learned to drive. It takes a lot of concentration to learn to drive. In the beginning, you needed to think about every little move you made. Key in the ignition, foot on the brake, foot on the gas pedal, and where is the indicator again?
This is a low-quality problem because with practice you get better and eventually pass your driver’s license. The problem doesn’t stop there, a simple distraction like someone talking to you while you drive through a tricky intersection can be enough to put you into a sticky situation. But as you become more competent at driving, it’s likely that this isn’t a problem anymore. Perhaps you’re one of those people who can drive with the radio on, talk to a passenger, and in the back of your mind work out what’s for dinner or what you are going to say in the next meeting?
As you become more successful, you find the problems in the past are no longer problems until you encounter high-quality problems.
Using the driving analogy, a high-quality problem for the most experienced driver would be keeping a car under control in a snowstorm or blowing a tire at a high speed. A high-quality problem like this would certainly take your driving skills to a higher level.
As you become more accomplished in your career or business, you need to welcome high-quality problems for solving them is where you will experience the most growth.
Dealing With Change
Economic recessions and pandemics change the trajectory of governments, economies, and businesses. The COVID-19 crisis created high-quality problems for many around the globe and equally created high-quality solutions.
Small to Medium Businesses
Why is this a high-quality problem for entrepreneurs? It forced them to reassess how they conduct their business. Many have turned to video conferencing software and learned, it is possible to continue to do business with people working remotely from home.
This high-quality problem means small to medium business enterprises have discovered the many benefits of deploying a remote workforce.
Statistically, those who work from home are more productive.
- Teleworkers are 35-40% more productive working from home.
- Their performance produces 40% fewer quality defects.
- They don’t call in sick as often resulting in 41% lower absenteeism.
- Companies report 21% higher profitability saving an average of $11,000 annually.
- Companies also report an average of 12% reduction in turnover.
Those working from home have also discovered the benefits to them personally from this high-quality problem.
- They save on gas and time not having to commute.
- They are able to spend more time with family.
- They have a more flexible working schedule.
- They are less stressed and feel more confident.
- They save money because they don’t need two separate wardrobes for work and every day.
The growth of e-commerce was initially fueled by the SARS pandemic of 2002 and 2004 leading to the establishment of a company called Ali Baba. Ali Baba is now at the forefront of retail in Asia.
COVID-19 forced many to self-isolate, many have discovered online shopping for the first time. Companies like grocery stores and Amazon have had to deal with this high-quality problem as they have been swamped with online orders. They have had to hire thousands providing new jobs to meet demand.
Restaurants were particularly hard hit during the pandemic with nearly half the workforce being laid off. This was a major problem for hospitality workers, yet some restaurants and bars shifted their business models to match the current demand for shelter in place. They reinvented their business structure with drive-through and curbside delivery. For those who don’t want to get in their cars, restaurants are offering a home delivery service.
Although this is not a complete answer for a high-quality problem, it does mean 50% of hospitality workers are still employed and restaurant suppliers are still in demand. It’s not the problem that is the problem, it’s how you respond to the problem that counts.
Post COVID-19 World
As the coronavirus pandemic continues to impact the economy and businesses being forced to cut hours and lay off its workforce, this is a scary time for most people. This impacts the mental health and wellbeing of a great many people. Mental health start-ups are working on solving the problem of isolation and business leaders will need to address how a world post-COVID-19 will impact the mental health of their workforce.
Taking mental health seriously is long overdue. Although meditation has been around for hundreds of years, people are discovering the benefits using the Unplug Meditation App for the first time. Meditation gives you a sense of calm and balance clearing away the anxiety caused during these turbulent times.
No doubt COVID-19 has been an accelerant for online education and remote workers changing how we interact online. Teachers have had to adapt quickly to the online learning and teaching environment. Younger children are learning to use technology to keep up with their lessons.
In a post-COVID-19 world, this high-quality problem changes how businesses compete in the future. Those that choose to capitalize on this high-quality problem will thrive, and those who do not will get disrupted. Those who don’t know how to adapt need the help of a business coach to fast track their ability to adapt quickly.
The best thing you can do is control what you can in today’s environment and learn from high-quality problems. Use the help of a business or life coach to learn new skills, read more, take an online course, and reflect on your attitude and how you respond when presented with a high-quality problem. This will give you the tools to manage any high-quality problems in the future with greater insight.
Learning to lead, learning to run a business is no easy task. It takes time and education to transform yourself into the leader you want to be. It all starts with learning how to hire and manage people. It is your communication and people skills that separate the wheat from the chaff.
To find out how you stack up as a leader. You never know what others see that you don’t see yourself. This kind of feedback is not always negative, perhaps you have great attributes and talents you weren’t even aware of.
Learn to Thrive Not Just Survive
80% of business owners do little more than just survive. They often make less than in full paid employment. They can’t take sick leave, they usually work longer hours and take less vacations.
Are you wasting money on marketing campaigns that don’t work? Are you tired of working long hours and feel like you are getting nowhere? Are you fed up with not making the profits you want to make? Perhaps you want to scale up and grow your business?
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