FEMI TAIWO: EMBRACE YOUR CRISIS
STRATEGY WITH FEMI TAIWO ON MONDAY
Michael is a first class chemical engineering graduate of Obafemi Awolowo University, Nigeria, and a PhD holder in same discipline from the University of Arkansas, United States. He works in a multinational energy giant in the United States.
Embrace Your Crisis
Nobody wants a crisis. But like death and taxes, you can be sure they will come. There are global crises – economic recession, slumping oil price and terrorist bombings to name a few – and there are individual crises e.g. a failing health, a failing relationship or a personal bankruptcy. A crisis has the potential to kill, steal and destroy. Our response to a crisis determines whether it weakens or strengthens us. Most crises are, by nature, emergencies (time is very critical), as such, it is quite easy to choose a response that worsens the situation. Two common responses to crises are underestimation and denial. We look at both briefly and suggest a better way.
1. Underestimating the Crisis
One way people respond to bad news is to hope it ain’t that bad. They wait for more data, a second opinion, a third opinion…in an effort to massage reality. But reality has a stubborn way of being real, and sooner than later, the full extent of the crisis will consume the unprepared.
A better approach: Quickly assume the worst and proceed accordingly. As more information trickles in, you may get a better picture of what’s going on but you will be more prepared if at the beginning of the emergency, you assume the worst.
2. Denial
An extreme form of the first response is to deny you are in trouble. Here, hope has turned to wishful thinking. Some cannot just live with the worst case scenario and conclude the best way to deal with their crisis is to deny its existence. Crisis moves from bad to worse, unless, of course, its vicious course is arrested. Living in denial gives a crisis time to incubate.
A better approach: Face the hard truth, don’t deny it. A crisis is unwanted. I get that. But once it comes, it’s useless to deny it’s here. If there are enemies at the gate, you prepare for war; you don’t tell yourself you are only dreaming or that the enemies are only vacationing.
The best approach to a crisis is to embrace it. A crisis is an unwanted opportunity. Let me repeat that: A crisis is an unwanted opportunity. A crisis is a double edged sword. If it is capable of destroying; it is equally capable of building. If it can kill, then it can make alive. If it can level, it can also uplift. It disguises as all danger but its Siamese twin is opportunity. Don’t underestimate the mess you are in or deny you are in one. Rather, confront it. What’s more? Embrace it. Feed off it to make the changes that are due. That doctor’s report may be the needed wake-up call for a healthier lifestyle. That mounting debt may be the impetus needed to commit to fiscal discipline. A crisis rarely ends without blood on the floor, but after the whole room is wiped, you will realize it’s cleaner and better than before. If handled right, you will look back and say “thank God for my crisis.”
