Staying hungry in business

Not long ago, I facilitated a round table discussion for a designer furniture store helping them to take a hard look at themselves.  The focus was on understanding who they were, where they wanted to go and what needed keeping and what needed fixing.

The store began as a few scribblings on a napkin at a cafe.  In a span of five years, they have grown into a thriving business with a modest turnover.  At present, they are the exclusive agents to some of Sweden and Denmark's well-known, designer brands.  Their presence amongst architects, interior designers and other such professionals is growing at a pace that would make many envious.

But as you may have already guessed their growth and success were no easy feat.  Every meter gained had to be earned with an investment of effort and energy.  Most businesses fail within the first twelve months.  If they survive that then there is the 24 month hurdle to overcome.  If a business has managed to stick around 5 years there is a greater sense of stability and that it is doing something right.

From my experience a sense of success can sometimes breed a sense of complacency or even worse a sense of superiority.  That is,  sometimes people think they have stumbled on to the secret formula of success and all they have to do is keep on doing what they are doing.  Of course as many businesses know this is more like the formula of crash and burn.  It has been written about in hundreds of articles and books.  Nonetheless, what were once global empires of enterprise are now empty ruins only spoken in terms of what once was or has been.

One of the latest examples of an empire crumbling is Research In Motion (RIM) makers of the famous or infamous Blackberry.  At the top of their might they spoke arrogantly about the demise of the iPhone.  RIM truly believed no significant development had to be made to their phones.  They thought they knew what the business world wanted. It seems they thought wrong and are presently trying to cling on to a market that is nearly beyond their reach.  Since 2007, their market value has tanked by 65%. RIM's desperation is tantamount to building a sandbag wall after the flood has already hit.

As for the designer furniture store their near future looks extremely bright, but they are under no illusion that it will always be so.  Their success has not gone to their heads and left them feeling satiated.  It has rather rekindled their hunger to stretch the business beyond where they are today.

I believe hunger in business is a necessity and should never been undervalued.  Hunger stokes the drive to strive.  Every now and then I think it is important for an individual or a business to create their own wake-up call and to take a hard look at themselves.  Simply asking the question, 'Are we staying hungry?' is a strong first step.

We encourage you to share your questions, opinions and comments.  Thanks again for taking the time to read our blog.

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Interested in applying brain-science in your professional life?

Please visit us at www.MINDtalk.no 

TRAINING YOUR BRAIN TO SUCCEED IN BUSINESS

In the last few years there has been a growing trend to know more about how the brain works.  The challenge is relevant findings of brain-science don’t always trickle down to the professional world, and so there tends to be a disconnect between what brain science knows and what people do.

One of the tougher challenges my clients face is the ability to remain reflective and objective in a demanding situation.  They understand that being in a distressed state of mind serves no value and can even worsen a situation.  By understanding some of the fundamentals of the brain’s inner-workings and being able to translate that knowledge into useful tools can mean the difference between succeeding and failing.

THE BRAIN’S PRIME DIRECTIVE

The brain’s prime directive is to keep you safe by being constantly vigilant to any potential threats.  The curious thing is the brain is not just a single system trying to keep you from harm.  Rather it consists of a number of systems that are constantly competing against each other for dominance and control of finite resources.  Each system follows the prime directive, but has different ways of achieving it.

The two main systems are the Reactive Mindset (RMS) and the Thinking Mindset (TMS).

THE MINDSETS

The RMS is a state of mind where you are reactive, subjective, indecisive and problem-oriented.  You tend to get lost in the details and lose site of the bigger picture.  It is when your brain ruminates on a thought and can’t seem to shift focus.  It is when automatic thoughts trigger negative emotions, which in turn fuel more unproductive thoughts creating a mental tail-spin.

The TMS is a state of mind where you are reflective, objective, decisive, and solution-oriented.  You are able to think about your thinking and keep the bigger picture in mind.  You are aware of your emotions and take them into account when making a decision.

It is important to note that the RMS and TMS are not simply psychological states of mind.  Each has it’s own dedicated neural anatomy and corresponding function, which significantly influences your cognitive abilities for better or for worse.

PLAYING THE GAME

In the diagram the RMS sits on the left end and the TMS on the right.  In between the two mindsets are three states of awareness.  Playing the game means being able to shift awareness from the RMS to the TMS under demanding situations.  In doing so you trigger the neural anatomy that keeps you reflective, objective and solution-oriented. 

One of the most effective methods I use comes from cognitive-behavioural psychology and is supported by findings in neuroscience.  It has proven to be highly effective under a range of conditions. It requires you to articulate abstract thoughts and emotions into concrete words.  This mental task requires higher thinking and reasoning, which literally fire-up the neural circuits of the TMS while quieting down those of the RMS.

Step 1:  Be aware of the automatic thoughts/emotions you’re experiencing to a stressful situation in the here & now.

• What am I thinking & feeling at this moment?

Step 2:  Experience shows that writing down the reasons why you are having a particular thought/emotion can significantly weaken them.

• What are the reasons behind my thoughts & feelings?

Step 3.  Automatic thought/emotion tend to be based on lessons learned to past events.  Where once they may have served you, they may now be working against you.  Weed out those that are hindering you.

• Are they based on fact or assumption?
• Are these thoughts & emotions helping me or hindering me with my current challenge?

Taking the needed time to answer the questions in the steps helps you to psychological and neurologically shift to the TMS, becoming solution-oriented and emotionally objective instead of problem-focused and emotionally hijacked. 

There is more to explore in this area, but these 3-steps are a good place to start when you need a clear head to handle a challenge.  I encourage you to keep the brain in mind!

We encourage you to share your questions, opinions and comments.  

Thanks again for taking the time to read our blog.

________ 

Interested in applying brain-science in your professional life?

Please visit us at www.MINDtalk.no