First of all, you should immediate visit a doctor particularly an otolaryngologist because he has specialisation in treating problems of nose, ear and throat and will take care of you appropriately.
After identifying that you have ear cyst never waste time because it can cause you severe damage not only for your hearing power but also can cause facial nerve paralysis.
You should also get a CT scan of your ear which will let your doctor examine the exact problem and he will also determine how much area of your ear is affected by ear cyst.
The otolaryngologist will also check your hearing power with a hearing test which will help him to determine whether ear cyst has affected your hearing power or not.
Different doctors recommend different types of treatment for ear cyst. You can also talk to your doctor about that and get information of how your ear cyst will be treated.
If you consult to the doctor about your benign ear cyst when it has grown bigger, then he will more likely recommend a surgery for treating this disease.
Surgery will remove your ear cyst and it is usually done through the ear canal. However, if you have got your ear cyst bigger then mastoidectomy is required to remove your ear cyst.
You should also make yourself ready to bearing the side effects of surgery that usually bring pain, bleeding or infection. However, it does not happen in all cases and if it does, then act upon the advice of your doctor.
Undergoing a surgical treatment of ear cyst can also cause disturbance in balance or can bring dizziness but you can overcome it by following the recommendations of the doctors who usually suggest ear drops and antibiotics after surgery.