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Steering Through the Economic Storm: 12 Habits that Engender Optimism

by Vistage UK speaker Marcus Child

As the Wall Street meltdown and credit crisis pushes onward, many economists are giving sensationally bleak forecasts about the storm to come. Some say that to have a positive outlook about the next two years is either foolish or disingenuous. Perhaps. However, positivity can serve us in testing circumstances.

Now is the time for optimism and the belief that we will prevail and even thrive in the most testing of conditions. Stressed or fearful minds create less valuable ideas than stimulated confident minds. We can worry to a degree that is debilitating, stifles new thinking and grows risk-aversion. Or we can rise to the occasion of the challenges ahead that demand resilience, resourcefulness and ingenuity. Big challenges elicit big and bright responses, inventions, innovations and cures.

This is a time when business leaders need to keep a level-headed perspective and exert a steadying influence. The leader’s behavior is a core driver of an organization’s culture. Confidence itself can promote a collective belief that your company can thrive in uncertainty.

Here are a few habits or ideas that can help engender optimism and confidence:

  1. Repeated labeling of an idea or situation substantiates and reinforces the label, and can even manifest to become what you call it (good or bad).
  2. Repetition is the mother of skill. We become what we repeatedly do, say and think. Our mental and behavioral practice at work prepares us and impacts our personal life beyond work.
  3. Counterbalance some of the negative news reports by sharing some good news, such as positive customer stories, good conversations with suppliers and buyers, new deals that you do, even if they're very small and other positive human experiences you encounter in person or in the press.
  4. Simplify your business plan into absolute priorities. Clarify your key goals as compelling "simple truths" expressed in short, crisp expressions that are memorable and easy to advertise throughout the business.
  5. Set short-term milestone goals so you can focus your talent on achievables. These types of goals offer more opportunities to recognize successes, acknowledge engaged colleagues and celebrate victories.
  6. Make yourself more accessible around the business, so that colleagues can ask you questions, test your resolve, and see, hear and feel your aura of grounded confidence (which they will subconsciously borrow).
  7. Personally deliver more short informal business performance updates. Find genuine positives and reasons for praise wherever you can.
  8. Begin and end briefings and meetings on a sincerely positive note.
  9. Spend more quality time with your key opinion-formers—wherever their place in the company happens to be. Keep them as positive and encouraging of others as you can.
  10. Let your senior colleagues know the value you place on their being resolute: exemplars of upbeat, can-do attitudes. The senior team needs to speak with one voice, consistent and achievement-focused. (Some teams conclude each meeting with an agreement on the terminology of the three main messages/outputs they will each repeat to the wider team to ensure united, consolidated signaling.)
  11. Promote the principle “Control the Controllables.” In times of change and challenge, some people spend disproportionate time voicing the concerns they have about things they can't influence or have no intention of influencing, repeatedly reminding themselves of how powerless they are. A better habit is to give a loudspeaker only to the things we can influence and intend to act on, reminding us of what can do and creating within us an energy which lifts others.
  12. If you can't say something positive ...wait a few minutes until you can.

A few years ago, a friend of mine and his cousin sailed through a succession of ferocious storms in a 36-foot ketch. Both novice sailors, they rounded Cape Horn, crossed Drake's Passage and set a new world record navigating deep into Antarctica. The pair was sustained by three helpful thoughts:

  • "Ports rot both ships and men." The zone beyond comfort is a life-enhancing place, rich in learning.
  • "Leave it on the last wave." Dwelling on mistakes and failures takes your eye off the coming wave. Your whole attention needs to be on getting over the next wave properly.
  • "Trust your intuition." Listen to forecasters, authors of articles and experts judiciously. If you listen to your sailing instructor, you might never go to sea.

Most businesses will probably emerge from the storm more seaworthy—leaner and wiser. Companies can look forward to becoming more savvy and customer-focused by meeting the challenges ahead. Many will become more adept operationally, more engaged culturally and more sensitive to the markets they serve.

Marcus Child specializes in enabling corporate change through people and has a reputation for helping people in management and service embrace change positively and successfully. Through novel and participative workshops which engage head, heart and hand, his work nurtures and invigorates resourcefulness in individuals, positivity between colleagues and trust between organizations and their customers. Marcus' emphasis on people exploiting the workplace as an environment for self-improvement as well as commercial success means that the new habits he teaches are practiced in the minds and relationships of people - within and without work - long after his programs are complete.