It’s hard to put into words the flurry of emotions we’ve all been experiencing over the last 3 weeks. Sometimes it’s hard to even find a moment to stop and reflect on those emotions since we get so caught up in the ‘here and now’ and can barely look up. After some self-reflection, and much-needed conversations with friends and colleagues, I’ve finally been able to process our current crisis a bit and, ironically, equating it to the stages of grief seems to be the most fitting: Denial, Anger, Bargaining, Depression, Acceptance, Creativity. I came across an article by James Currier, a Managing Partner at a venture firm, titled The Psychology of Founders Who Win in Downturns, that perfectly sums up He gives some great advice on how to shift your mindset so that you can successfully manage a business in a period of crisis. this analogy. He gives some great advice on how to shift your mindset so that you can successfully manage a business in a period of crisis.
Mind Shift #1: Realize that your own psychology will make or break your company
Understanding how you react in a crisis will allow you to adjust more quickly and to gain
the confidence of your team and customers.
Mind Shift #2: Acknowledge that it’s worse than you think
Return your thinking to the beginning stages of your company so you can focus on the
priorities associated with that stage.
Mind Shift #3: From playing to win to playing to not lose
Learn to be ok with survival mode so that you can switch back to win mode when the time is right.
Mind Shift #4: Embrace the crisis
Lean into the new reality. Crisis forces everyone to be intentional and to focus on what is truly important.
Mind Shift #5: Recommit emotionally to your mission
When you center yourself on why you started the company in the first place, everyone will follow your lead with an invigorated passion.
Mind Shift #6: Return to creativity to find the fast-moving water
Find the emerging market trends and empower everyone in the company to use their creativity to make you a leader in that space.
Mind Shift #7: Pushing hard when others don’t
Push hard in places you normally would have coasted.
Mind Shift #8: Doing something counter-intuitive and creative
Crisis mode can be a freeing ‘nothing to lose’ environment to attempt anything and everything that eventually become game-changing strategies.
As you can see, weathering the storm is a tough balance of seeing the reality but still believing. I’ve been witnessing our businesses react to our current crisis and I’m proud of their ability to shift their mindset. What has been even more inspiring is to watch our business community lend a helping hand along their journey to fellow business owners, competitors, and nonprofits to bring them out of the crisis with them. Our members truly understand that together we make a better Spring Hill, this experience only solidifies that mindset. It is what makes us Spring Hill Strong.
- Rebecca Melton, Executive Director, Spring Hill Chamber of Commerce