Bill Canady argues that fear, uncertainty, and doubt are inevitable in business but can be replaced by insight. The key is knowing when fear is a legitimate signal versus when to set it aside, using experience and accurate data to make that call.
Today I thought we'd talk about how to replace FUD, or fear, uncertainty, and doubt, with insight. Now look, fear is part of every business. Business is all about evaluating and balancing risk and reward. The basic assumption here is that there's never reward without risk. Now, like all other factors or forces in business, fear must be managed accordingly. Admittedly, there's a lot that makes managing fear highly challenging. For one thing, it's hardwired into every animal, us included. But hardwired or not, some people are scared easily while others don't scare easily enough. The essential tool for regulating fear, for knowing when to heed your fears and knowing when it's not to take counsel of your fears, is knowledge. Experience-based know-how driven by abundant, timely, and accurate data.
