In "The End of Undifferentiated Studios" I mentioned that supply-based creative firms will face significant challenges due to current market downturns and the commoditization of creative services.
The markets remain uncertain, but hey, what is this problem really about – the uncertainty itself or our reaction to it? How is our current approach to uncertainty useful or detrimental to our firm’s success?
Since going back to "business as usual" does not seem to be an option, what if we embraced uncertainty and built our strategies around it? How would our leadership approach change?
Uncertainty is not something that only your creative firm faces. The reason we have it tough is that our clients face it equally. They pull the handbrake for the same reasons.
What happens when we're uncertain? We look for guidance. We look at leaders. That's the chance we're going to explore.
To stay afloat and relevant, creative studios must go past their comfort zones, make smart decisions and bold moves. So, what should we do? […]
Leading with vision and confidence […]. Better understanding (of the market direction) plus business mindset, once demonstrated, will be attractive to brands big and small, and can result in fostering deeper relationships.
If bold, visionary leadership is your go-to reaction to uncertainty, congratulations — you're lucky or well-trained. But for most of us, it's something we need to push ourselves towards because the default reaction is feed-back tactics. We explored that.
How can we deal with the beast and find a path?
What can we do to bolster confidence in our leadership style during challenging periods?
What underlying factors contribute to our lack of confidence in our leadership during uncertain times?
"Confidence isn’t about knowing everything; it’s about trusting yourself"
Confidence isn’t about knowing everything; it’s about trusting yourself. It's knowing you'll fall on four feet no matter what. Some people have it innate, others — nurture it.
You have plenty of experience to leverage, and it's not the first downturn. What did you learn from previous challenges that can guide you now? Even reflecting on your track record can help elevate your thinking and confidence.
"In uncertainty, visionary leaders find their strength."
So, let's talk about visionary leadership now. The myth is that it is only for the highly experienced. But that's far from true. It's for the bold.
What unspoken fears might stop you from leading boldly in uncertain times?
Most likely, it's not knowing clearly what's next. But that's not what leadership is about. That's the modus operandi of bookkeepers.
Leadership is rarely about knowing clearly what's next. Our societies and entire education systems are built around rationalism and claim to run on data and logic. But as we know from Rory Sutherland's perspective, this can only inform us about what was. Because the current situation is not normal but an exception, extrapolating on past patterns rather won't be useful.
Leadership calls for something else: taking a leap of faith in the direction that you feel in your guts, and probably not much more than that. It's vague. It's far from clarity. It's not easy. Leaders are not those who know. Leaders are the ones who have the guts to take that leap. That's all it takes. So little and so much.
"Uncertain markets reward those who navigate with poise."
That's the point — dare to take that leap, and your clients will see and appreciate your guidance. Of course, you need a bit of market research, open-mindedness, reading of the tea leaves, looking at the shaking needle of the compass or calling a friend… But you have the mindset already. That's the foundation.
Your greatest opportunities lie hidden in the volatility you face today.
Stay prolific,
Till the next one.
Your Opportunity — Confident Leadership in Uncertain Times