At one extreme it is entirely possible to live with a dysplastic lesion (usually one demonstrating mild dysplasia) without any form of intervention although any precipitating factor such as smoking should be discontinued.
Alternatively, people who have dysplastic lesions may find that they undergo malignant change. The degree to which this happens is not currently predictable although a considerable amount of research time and effort has been put into this.
The only generic advise with regard to treatment of dysplasia is that it is very individual.
This can range from no treatment, simple excision biopsy, laser excision with base coagulation (which leaves an initially painless wound but quite often gets superinfected and painful, taking up to three weeks to heal), to formal excision and reconstruction.
So, as is often the case the most appropriate advise for the individual is to ask your treating clinician.