Building a Resilient Mindset

Building a Resilient Mindset

One of the lessons learned from the COVID-19 pandemic is that this black swan event has tested many individuals’ business and emotional fortitude. Whether it has been investing, navigating a business through a quickly changing environment, or grasping the emotional balance of family and personal challenges within the context of mostly negative headlines, life sometimes appears overwhelming.

This essay will focus on the development or enhancement of a resilient mindset for business, family, and personal life. The wisdom bestowed will be based upon thoughts and perspectives from mentors and life's experiences; however, there is no universal prescription for life's journey because of individual uniqueness. Hopefully, you will find some tips and techniques for encouragement and reflection.

In today's world of quarantining and social distancing, I have found that motivational videos on YouTube have been uplifting. One evening I watched a program with Brad Stevens, former basketball coach at Butler University and now head coach of the Boston Celtics, and Geno Auriemma, the successful women's basketball coach at the University of Connecticut. This program set the stage for this article. Geno asked Coach Stevens how he transitioned from college basketball where he lost one to five games a year to the Celtics where he lost 30 to 40 games per year. The Yukon coach indicated that this shift to a losing environment would drive him nuts. The intellectual Coach Stevens thoughtfully responded by indicating that he followed a balanced process with the goal of incremental improvement each day.

In today's world where the cards appear to be stacked against us, following a process can provide the stability of resiliency both in business and personal life. What are some of the steps?

Steps For Business and Personal Resiliency

First, set goals using a balanced approach that considers the business, family, personal, mental, physical, and spiritual aspects. Realistically, reestablishing one's goals, given this challenging environment, can denote the realism of the cards that are dealt. It is amazing how small, incremental goals in business and life can build selfesteem. However, a tip is to write them down and occasionally refer to them.

Analogous to Coach Stevens’ situation, losses can mount. However, mini victories in improvement, team culture, and the use of support people can establish a championship foundation. In your business, conducting a good old-fashioned SWOT analysis can be an excellent process. A SWOT analysis identifies the strengths, weaknesses, opportunities, and threats of a business. Conducting this analysis with your team can be a good way to identify areas of improvement and the process also engages your team and may boost their attitudes.

Go beyond the business to the family and personal life. Life experiences with the family last a lifetime. Investing into one's mental and physical health can provide endorphins September 2020 First Dakota National Bank 2 for life. For example, Coach Geno was frustrated one day at practice because his players were just not getting the concept. He turned the helm over to his assistants and indicated that he was out of here! His escape was not to his office or back to his home because he did not want to see people. He went behind the bleachers to disconnect. Half an hour later, a bench player was assigned to determine if he was okay! This story is analogous to my escape in college; when I needed some time to regroup, I escaped to the mats or the storage room behind the basketball courts. Whether it was the classroom or the basketball court, taking some time to escape from the drama and get life back into perspective was always helpful.

Next, to build a resilient mindset follow the “meds of life” which include meditation, exercise, eating a healthy diet, and establishing a support network. Occasionally, one has to find your platform for peace. It may be behind the bleachers, in a storage room, or observing a sunrise or sunset. A good workout or exercise routine is a method to elevate your mood and build resilience for your health. The key is to work out 30 minutes at least three times per week and follow a diet, with the occasional indulgence. In addition, maintain a good support network. Support can come from a mentor, neighbor, or other trusted individual. It can also be your favorite pet or a physical or mental activity to unwind.

Moving towards the business side of the process, resiliency can mean focusing on business basics. For example, use your financial statements to develop questions for those crucial conversations, both externally and internally.

The projected cash flow is a powerful tool and comprises 80 percent of a completed business plan. The process of applying financial numbers to production and marketing plans and periodically monitoring performance can provide peace of mind and direction in the business.

Work with your team of advisors to develop steps to move the business into the black or to minimize losses. This collaboration can provide a team approach to problem-solving throughout your business, family, and personal life.

Sensitivity testing of production, price, and costs can establish the boundaries of resiliency and agility. As both coaches mentioned in the interview, having plans A, B, C, and D can provide a resilient mindset. This is particularly valuable in a quickly changing economic environment. Shifting to personal finances, developing a household budget can be a similar exercise. Resiliency and agility in household finances is imperative for success in the business.

Finally, resiliency includes a process for business and self-improvement. The coaches mentioned that they are constantly observing other coaches when recruiting or scouting. Geno mentioned that he sometimes picks up the best ideas from high school coaches. They tend to be less constrained, more innovative, and think outside the box. Certainly, seeking information and knowledge both inside and outside the agriculture industry can be an element for creative energy in the overall process.

Building a resilient mindset does not occur overnight. It evolves following a process which creates habits in life's journey. It is our choice whether our habits have a positive or negative impact on our own mindset