Feeling "the risk of missing out"? Be able to answer these two questions

Are you noticing this too?? With vaccine numbers up, people able to congregate, and summer activities and events unfolding, everyone's calendars are booking up.

Sure, this is positive.?But people are also starting to get a gnawing feeling... they may be LEFT OUT of something!

?I saw an article in?New York?magazine that noted during the pandemic, “FOMO may have gone into hibernation for a while but we may be on our way to a new golden age as we try to make up for the year we lost by doing more than ever. “

?This risk applies to organizations as well.

?As I consult with organizations to launch new strategies and help them optimize their risk, I find many leaders are getting a similar feeling lately.

?You may feel your organization is missing out on:

• Customers or employees or members or volunteers you are urgent to attract or to get to return
• Suppliers and materials, as you compete for resources in today’s disrupted supply chain
• Funding to fuel your growth or even to survive — whether from banks or investors or philanthropies or the government.

The psychology behind this fear is called "loss aversion". Studies show people tend to place up to twice the value on what we might LOSE versus what we might GAIN.

?So, how do you avoid the “Risk of Missing Out”, or "ROMO," for your organization?

One way is to be ready with answers to two important questions:?

1. “Why you?”?
2. “Why you --?now”?

When resources are constrained, and demand outpaces supply, you aren't the only game in town. People have lots of choices.?

The easier you make it for people to know why you are the right choice, the quicker they’ll say “Yes!” and take action with you.

This is a clear theme in my current research with funders, from venture capitalists to financiers to philanthropists and government grant providers. I pose this question:

“What would make it easier for you to say Yes!” to fund organizations with worthy ideas”?

?Jeff Grubb is an investment banker, management consultant, and trustee for the MJ Murdock Charitable Trust. He guided, “Despite what people may think, there is actually a lot of funding available for good ideas. But whether they lead a business or a nonprofit, most people looking for funding don’t spend enough time getting down to "Why."?“Why do I exist?” "Why do we need one more person doing this?" "What's different about what I am going to do when there are already others doing something like it?"

?Allison Schulz, Vice President of Capacity Building at the Calgary Foundation, offered,?"I encourage organizations to consider, 'What vacant spot would there be if we didn’t do this work?' 'Why is this work going to be important to the people we serve?' 'Is this critical to do now -- or if not, when will it be?' "

Why You. Why You -- Now.

Here's how to go about answering these important questions.

• Why You??

In a crowded landscape of organizations that sound similar, take the time to map all those doing something similar, and capture how you are different. Make sure you can explain simply:?

• The problem you solve
• The outcomes you achieve
• How your outcome or approach or your organization is different from other choices people have.

It doesn’t have to be a big shiny dramatic offering that makes you different!?You can differentiate by HOW you do what you do, and the experience people will receive along the way.

• Why You – NOW?

As you strive to "get back to normal", make sure you are really clear about the issues that matter?today.?Evaluate what's changed and make sure that the problem you solve is still relevant.?

Whether it's customers or employees, members or volunteers, suppliers or funders — people want to go with organizations with a clear vision and game plan for delivering value in today's pandemic-impacted environment.?

They also want to be sure they are working with organizations and leaders they can trust, who know how to deal with risk in today's environment. Demonstrating your?resilience?and ability to be counted on --despite today's changes--?may be the best answer to “Why You -- Now”!

Yes, the ROMO villain, or "the risk of missing out", might be rearing its ugly head again.

?But if you have solid answers to these two questions, you'll quickly vanquish this villain and recognize it for what it really is … opportunity!

-- Susan

P.S. If you're a leader of an organization launching a new strategy, or getting an initiative that's de-railed back on track, check out our ?De-Risk System for Impact ? services! They provide a practical way to anticipate the risks of your idea based on proven principles and help you put a plan in place to address them. At a minimum, understanding these principles will prompt some good dialogue with your team. Happy to discuss!

Susan Schramm, Founder, and Principal, Go to Market Impact LLC ?

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