Welcome back to the Franchise My Business podcast, hosted by Kevin Oldham. Today’s episode is all about tackling challenges when expanding your business. But how do mistakes or failures in business serve as growth opportunities?
In this episode, we take you through Kevin’s own journey of expansion and the lessons he learned along the way. From leasing a dedicated studio to realizing the need for cost-saving measures, every step of the expansion process brings its own set of challenges. But it’s how we navigate and overcome these challenges that truly defines our success.
And join us as he discusses the importance of hiring the right people and the mental aspect of growing your business. And get ready for an exciting introduction to a concept called VUCA, which stands for volatility, uncertainty, complexity, and ambiguity.
Let’s dive in!
Embracing VUCA: Strategies for Thriving in a World of Volatility, Uncertainty, Complexity, and Ambiguity – Kevin Oldham
“So what is VUCA? Matter of fact, I have a hat for new business VUCA fit, and the word VUCA is not really a word. It’s an acronym. That acronym is coined by the US military to describe the terms or the world after the Cold war. So when the cold war ended, there was still a lot of volatility, uncertainty, complexity, and ambiguity in the world. And that’s where the acronym US military loves speaking acronyms. They came up with the terminology or the acronym VUCA. My mindset coach or old mindset coach, now business partner, Jose Bellagno says use that as a core tenet of his philosophy to help frame how to manage. Challenges in life complexity like ambiguity, all of these things. And I would say that when you’re growing a business, that would be a big challenge.”
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