Embracing the unknown
July 8, 2024
About the writer
Terry is the CEO of Ingram Advisory Group and an experienced C – Suite leader with over 30 years tenure in marine, industrial, and commercial manufacturing and sales operations. Terry brings a uniquely practical outside perspective, strong leadership skills, and strategic thinking to his Boards including from his US Navy submarine service. Follow him on Linkedin.
I don’t know what I don’t know
In the ever-evolving landscape of business leadership, we often find ourselves at a crossroads of knowledge and uncertainty. The phrase "I don't know what I don't know" has become more than just a philosophical musing—it is a powerful acknowledgment that can drive innovation, foster growth, and ultimately lead to better decision-making.
As executives, we are conditioned to have answers. Our teams look to us for direction, our stakeholders for assurance, and our competitors watch our every move. However, the true strength of a leader lies not in having all the answers but in recognizing when we do not. This realization can be uncomfortable, even unsettling, but it is precisely this discomfort that can propel us and our organizations forward.
Disruptions are everywhere
The business world is rife with examples of companies that fell behind because they were too certain of what they knew. They failed to see disruptions coming or dismissed new technologies as passing fads. On the flip side, those who have embraced uncertainty as a catalyst for learning and adaptation have often emerged as industry leaders.
How do executives embrace the unknown?
So, how do we, as executives, cultivate this mindset of embracing the unknown?
What is leadership? It starts with a fundamental shift in how we view leadership. Instead of seeing ourselves as the source of all answers, we must become the chief question-askers of our organizations.
Environment of curiosity. We need to foster an environment where curiosity is celebrated, where "I do not know, but let's find out" is not seen as a weakness but as the first step towards innovation. This approach requires us to build diverse networks of advisors and team members. By surrounding ourselves with people who bring different perspectives and expertise, we expand our collective knowledge and increase our chances of identifying blind spots. It is about creating an ecosystem of continuous learning, where every interaction is an opportunity to uncover something new.
Active steps to create space for dialogue. Nevertheless, embracing uncertainty goes beyond just acknowledging what we don't know. It's about taking active steps to explore these unknowns. This might mean investing in market intelligence to stay ahead of industry trends or dedicating time to explore ideas outside our immediate field. It could involve creating spaces for open dialogue within our organizations, where team members at all levels feel empowered to bring forward ideas and concerns without fear.
A sign of weakness? As we navigate this path, it is crucial to remember that admitting uncertainty is not a sign of weakness. In fact, it demonstrates a level of confidence and authenticity that can inspire trust and respect among our teams and stakeholders. It models a mindset of continuous learning that can permeate throughout our entire organization. The challenge, of course, is balancing this openness to uncertainty with the need for decisive action. As leaders, we are still expected to chart a course and make tough decisions. The key is to develop adaptive planning strategies that are flexible enough to incorporate new information as it comes to light. We need to be comfortable making decisions based on the best information available while remaining open to pivoting as new insights emerge.
Personal experience
In my own journey as an executive, I have found that some of our most significant breakthroughs came from moments of acknowledged uncertainty. By admitting that we did not have all the answers, we opened ourselves up to new possibilities, collaborations, and innovations that we might have otherwise missed.
The business landscape today is more complex and fast-moving than ever before. Disruptions can come from any direction, and yesterday's competitive advantage can quickly become tomorrow's liability. In this environment, the ability to navigate uncertainty is more than just a valuable skill—it is a critical competitive advantage.
As we lead our organizations forward, let us challenge ourselves to be comfortable with discomfort, to seek out the unknown, and to view uncertainty not as a threat but as our greatest opportunity for transformative growth. Let us reframe "I don't know what I don't know" from a statement of limitation to a declaration of possibility.
In doing so, we position ourselves and our organizations to be more adaptable, innovative, and resilient. We create cultures where learning is continuous, where diverse perspectives are valued, and where we are always ready to seize new opportunities as they arise.
The future belongs not to those who have all the answers but to those who never stop asking questions. As executives, let's embrace the unknown, for it is in these uncharted territories that the next significant breakthroughs await. Our journey through uncertainty is not just about surviving in a complex world—it's about thriving in it and shaping it in ways we have yet to imagine.
Take the next steps
Embracing uncertainty and having the humility to admit that you don’t know what you don’t know might require you turning to IAG for example for succession planning advice for your family business or perhaps for C- Suite level fractional services wherever your journey takes you, we are ready to help you, are you READY?