Belle Beth Cooper introduced us to the term sunk cost.
It’s refers to any time, effort or money spent that can’t be gotten back. The
reason most of us can’t get past them is because our brains are wired to feel
loss far more strongly than gain. A tough mind doesn’t get stuck in the
sunk-cost fallacy and has the strength to make a rational decision without
getting mired in the emotional muck of regret.
2. DON’T TRY TO CONTROL
EVERYTHING
Trying to control things takes up a lot of energy. Instead, by
accepting the situation and letting go of outcomes, a strong
mind can adapt and thrive--even when the going gets
tough.
3. DON’T FEAR FAILURE
We’ve heard many an entrepreneur’s tale to fail fast and get on
to the next thing. To really deal with failure, a tough mind needs to wrap
itself around what went wrong andfigure
out how to do better next
time.
Acknowledging mistakes is also important for moving on. In doing
so, you not only sidestep the psychological pitfalls of cover-up,
rationalization, and guilt; you may also find that you enhance your own brand
through your honesty, candor, and humility.
4. DON’T FEAR A SMART
RISK
Acknowledging that you may reach greater success if you think
out of the box also comes with the risk of making more visible mistakes. Those
with more mental strength can silence
the saboteur inside their heads and weigh the risk
rationally to make an informed decision. On the plus side, taking a calculated
approach to risk cuts the recovery time even if you make a mistake.
5. DON’T DISCOUNT
EMOTIONAL INTELLIGENCE
Emotional
intelligence, that is, the ability to tune in and control
your own emotions and be aware of those in others, is an excellent indicator of
success. Resilient minds are able to navigate through the currents of emotion
in any situation and don’t get pulled into the undertow of office or family
drama.
6. DON’T SHY AWAY FROM
TRANSPARENCY
At collaboration software startup Asana, they create a road map
for blocks of time called “episodes.” At the end of each they pull together a
document that summarizes their hits and dissect their misses to share with the
team, investors, and entire rest of the world. A tough mind can handle the sheer
transparency because
it understands that the exercise is about learning and not blame.
7. DON’T FEAR BEING
ALONE WITH THEMSELVES
It takes a tough mind not to get stuck in the unproductive
fight/flight/freeze state exacerbated by procrastinating until the last minute
and doing ‘good enough’ work. Those who can rise above take the time to be
alone with themselves and learn to listen to the silence, even for just five minutes a day.
8. DON'T THINK SUCCESS
HAPPENS OVERNIGHT
Even “rock star” executives can’t make a sustainable splash in a
short period of time. A tenacious mind understands that it takes time to listen
to customers and constituents, and teasing
out a solution can take months--or years. To succeed in
the long run, there has to be a balance between the passion for instant gratification
and practicality.
9. DON’T HAVE THE
DISEASE TO PLEASE
Not every email or request needs to answered immediately. A
resilient thinker will chew on the best way to deal a problem or concern and
substitute "I think" wherever others are tempted to say "I
feel." Tough minds don’t
obsess about hidden meanings. They simply address the
issue by removing any fraught emotion.
“The
old adage ‘competition brings out the best in people’ deserves a proper
burial,” says professor Paul
Baard of Fordham University. Instead, a tough mind will
naturally gravitate to motivation that ranges from extrinsic ("What can I
earn or win in doing this task?") to intrinsic ("What can I enjoy by
doing this?").
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