The Mindset in Business is More Important Than Ever for Business Leaders Right Now…..and Here’s Why
As we approach a time of economic challenges, having the right mindset in business is more important than ever as the news makes for grim reading, even more than usual—talk of crisis, instability, chaos and turmoil.
The reality is that it looks like we’re heading into a potentially long and difficult recession. As business leaders, we’ve been through economic downturns before, and we will no doubt go through them again. More highly successful businesses have been created or evolved during a recession, turbulence and transition than at any other time in history.
But there’s one key thing we can focus on during challenging times within our macro-environment … and that’s what we can control – our mindset.
The Mindset in Business for Economic Challenges
There are many people we can take inspiration from when it comes to displaying the right mindset; one is US Navy Seals. When they are in trouble, one question they are trained to ask themselves is…’ What in this situation is immediately within my control, and what can I influence here?’ The same thought process can be applied when the you-know-what hits the fan in our economic environment.
We have to focus on some key areas:
1. We have to react – when we dwell too long on elements that are outwith our control, we become paralysed into inaction…..a leader’s worst nightmare. We have to keep moving forward.
2. We have to focus on the things we can influence – we can’t change what’s happening in the world around us, but we CAN change how we manage our businesses, the decisions we take, and, crucially, the way we respond to the situation.
3. We have to stay calm and able to think clearly. Out of all challenging situations also comes opportunity…..but we must have a clear head to see that opportunity and make helpful decisions for our business.
4. We must be realistic in our assessment of the situation and what it means for our business – once we understand the potential impact, we are better equipped to deal with it.
5. We must be clear on our options – what they are, what the impact of each one is, which are the most helpful in the short and long term, and which will lead us closer to our goals.
6. We must communicate our plan, actions and explanations to our team…….the only way to truly work as a team is when everyone understands the direction and why.
7. We take action and do the things we’ve committed to doing.
8. We continue to review the situation, inspect our plans and actions, and be open to adapting our strategies if needed.
Dark clouds will fill the economic skies every decade or so and briefly rain gold. When downpours occur, we must rush outdoors carrying washtubs, not teaspoons.” – Warren Buffett.
Mindset is essential at times like this. Challenging times can make or break business leaders…..and it usually comes down to the mental and emotional toolkit they’ve developed or not developed.
Developing Your Motivational Intelligence (MQ)
Research shows that leaders who have developed their Motivational Intelligence (MQ) will be better equipped to manage adversity, cope with business challenges, communicate with their team, drive change and thrive during difficult times.
These skills are crucial right now….for all business leaders.
If you’re a business leader spending most of your time reading the news, worrying about the future or feeling stuck about what to do next……we can help.
Our MQ programmes teach the skills you need to move your business forward during challenging times and keep moving forward in the coming years.
Now is the time to take action to learn the mindset skills and tools that will set you and your business apart in the future.
Leading With Motivational Intelligence offers all this and more with practical online lessons and ongoing coaching support.
Click here to learn more about how we can help you achieve your desired business success.
James Fleming
The Power Within Training,
The Motivational Intelligence Company
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