How can you apply conflict resolution to entrepreneurship?

Conflict in entrepreneurship is not just inevitable; it's an opportunity for growth and innovation. As entrepreneurs, we are constantly faced with challenges and differing opinions, but it's how we handle and resolve these conflicts that truly sets us apart. By embracing conflict resolution strategies, we can navigate through the complexities of entrepreneurship and achieve remarkable success. From active listening to finding common ground, let's explore how conflict resolution can propel our ventures forward.

I have found is that there are four main approaches to resolution: accommodating, competing, compromise, or collaboration. Accommodating is when you fully agree to the demands of the other party. A competitive approach is a when the other party fully agrees to your demands. A compromise is a "draw" or both give up something to come to a middle ground. The final, collaboration, is when a mutually beneficial solution is reached. The main difference between a collaboration and a compromise is that in a compromise, the solution may not be beneficial or satisfactory, but everyone agree to it anyways. While collaboration should be our goal, it may not always be possible. Sometimes, any above approach might be necessary depending on the situation.

An Entrepreneur needs to wear multiple hats and develop a number of skills in order to sustain, grow and succeed. Agree that communication, negotiation, problem solving, and conflict resolution are some of the essential skills. Conflict is inevitable and provides multiple opportunities to grow personally and professionally.

A very famous, Harvard case of study and former boss of mine once told me:”if someone doesn’t understand what you intended to communicate, then it is your fault. Choosing the right words for a specific person or public is your responsibility as a message sender”. I have, since, reviewed my speech when my message is not understood by someone to check what went wrong and paraphrase it or change it all together. Also, during the message delivery, be aware of cues you might get from the receiver and adapt on the way: conflict solving needs understanding the issue first, getting both sides of the story clearly told, and, then, reaching agreements and commitments, and everyone needs to really be on the same page!