Brain Basics for Business
Leading in times of financial and regulatory uncertainty.
Here’s one simple question that can make a world of difference.
The problem:
Across many industries, there’s a common theme I’m hearing from clients. With so much up in the air about prices, regulations, and government funding, it’s very hard to lead.
For example, Alana, a VP at an organization involved in scientific research leads a team whose entire business function could be disrupted or defunded depending on the changing prices of imports and changes to regulations. People on the team know that it’s possible, too, and are notably concerned. Walking away from their years of hard work would be heartbreaking. She knows that people on the team are losing morale, and are distracted, affecting productivity.
But it also may be that her team will weather the storm and stay the course, or may just need to be nimble and find new ways to make progress. With so much uncertainty, she privately feels she can’t even put a reasonable percentage chance on the different potential outcomes.
Somehow, she needs to guide her team to focus, lift morale, be adaptive, and pursue their purpose. Failing to do so will make their success harder under any circumstances.
What to do:
Here’s one psychological tool that can be valuable in any situation in which you are facing anxiety and stress due to uncertainty.
To step out of the distracting anxiety and stress from uncertainty, answer this question:
“What do I want to do now that is within my control?”
You might find it helps to substitute “build” “develop” or “solve” for “do” in your particular case.
Of course, it is within your control to binge watch TV :). So, just to be clear - we’re talking doing things that pertain to your and your teams’ professional success.
Alana, and you, can ask yourself this question when uncertainty is causing anxiety, stress, or distraction. You can also ask this question of your team members to help them in times of major uncertainty.
By no means are we suggesting this is all that is needed to lead in uncertain times, but it is one simple step that can make an important difference.
The science:
As SBLI’s Josh Davis explains in his recent FastCompany piece, anxiety and stress can be useful when applied to something specific in the future that you can meaningfully do something about. They help you prepare, plan, and show up with the right level of focus and intensity. But when anxiety and stress get applied to a vague and broadly uncertain future, they often lose their utility, and spiral into distracting negative feelings and thoughts. In that article, Josh applies the science and this question to the specific uncertainty around how AI may affect our jobs. But the principle holds for all forms of major uncertainty.
Anxiety and stress tend to be about the future. With major uncertainty, that is a future that is not meaningfully in your control. Feeling as though you do not have much control over important things in your life can be a major additional source of anxiety and stress. The question “What do I want to do now that is within my control?” refocuses the mind quickly onto the present and onto those things that are within your control. This tends to reduce anxiety, stress, and mental distraction, and helps you be more productive. By attending to what you want it also tends to shift the mind from what you are avoiding to what you seek to gain, also often helpful for productivity and boosting morale.
So… what do you want to do now that is within your control?
