3 Tips for Handling Startup Hiccups Business consultant Joshua Medcalf on the importance of embracing the unknown.

By Joshua Medcalf

Opinions expressed by Entrepreneur contributors are their own.

Q: What are your tips for dealing with unexpected events that tend to happen when you're starting up that may cause you to scramble?
- Jordan Bowerman

A: Regardless of how well you prepare, there will always be setbacks when you're launching a business from scratch.

That's why it is so important to start small and prove an idea in the marketplace first. This way, you can more easily pivot and adapt. Unforeseen circumstances are inevitable, so rather than being scared of them, here are three tips for confronting them head on:

Related: Stop Searching for "The Next Big Thing:' Tips for Building the Best Business for You

1. Adopt a growth mindset. No matter what happens to your business once you hit the market, believe that everything is a chance for you and your business to learn something new. Too often, young entrepreneurs run from obstacles, rather than recognizing tough times as opportunities for growth. You don't have control over everything that happens, but you do have 100 percent control of what meaning you give those events. Ask yourself, 'How can we learn from this? And how can we provide more value to our customers based off of this information?'

Related: Are Your Eyes Bigger Than Your Budget? 3 Tips to Rein in Your Startup Costs

2. Map out different scenarios. How many sales-per month would you need to break even over six months? A year? Two years? How would you use $150,000 of funding if you had it in month one? I would try to think through ten different scenarios and make your best guesses as to how you would handle them. Make sure to come up with situations on all ends of the spectrum.

3. Be excited for the unknown and unexpected. Many times it is the unexpected events that reveal an opportunity for a game changer in the marketplace. If you are excited for these unknown and unexpected events, you will be in a better position to capitalize on them. We live in a world that is constantly changing and we can never plan for everything, but we can be enthusiastic about future opportunities.

Have a question for YoungEntrepreneur's experts? Leave a comment below and tune in next week to hear from our new Ask the Expert contributor.

Joshua Medcalf is an entrepreneur who founded Train to be CLUTCH, a business and life consultancy through which he works with top performers all over the world from many different professions. Medcalf has created some of the first mental training apps in the world for soccer, basketball and golf and started a nonprofit that trains athletes in one of the toughest housing projects near his home in Los Angeles. He is also the director of mental training for UCLA women’s basketball. And when time permits, he travels around the country doing workshops for a variety of business, sports and school groups.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Over 1,300 Google Employees Have Signed a New Petition Asking For Job Security

Google laid off thousands of employees in the past two years, which has left some employees feeling insecure about keeping their jobs.

Growing a Business

Entrepreneurs Should Invest in Service, Not Just Sales — Here's How to Build a Customer-First Business

A customer-first business strategy that prioritizes exceptional service, empowers employees and leverages feedback can transform satisfied customers into loyal advocates, driving sustainable, long-term growth.

Side Hustle

This 29-Year-Old Quit Working 12-Hour Overnight Shifts Because Her Side Hustle Brings In Up to $8,000 a Month: 'It Makes Me Happy'

Breanna Meertins picked up a fun hobby in her free time — then learned about an opportunity that would change everything.

Leadership

7 Telltale Signs of a Weak Leader

Whether a bully or a people pleaser who can't tell hard truths, poor leadership takes many forms.

Business News

'Nobody Ever Gave Me Anything': More Boomers Say They're Not Transferring Wealth to Family Until They're Dead

A new survey from Charles Schwab found boomers are more hesitant to distribute their wealth than other generations.

Business News

Barbara Corcoran Says She Doesn't Look at Resumes: 'Always Hire Attitude Over Experience'

If you think you need a strong resume to work with real estate pioneer Barbara Corcoran, think again.