This Sunday morning, in the business section of the New York Times, is a short but interesting article by Gregory Burns, M.D., Ph.D. He directs the Center for Neuropolicy at Emory University (one of the great universities back in my hometown of Atlanta, GA). Burns is a neuroeconomist. Bet you didn’t know such a job existed, eh? Neither did I.
He defines neuroeconomy as the science of using brain-scanning technologies (like MRI) to decode the decision-making systems of the human mind. One of the goals of this discipline is to understand the fear system of the human brain and how to keep it from short-circuiting good decision-making. Burns goes on to write the following: When our brains sense pain, or anticipate loss, we tend to hold onto what we have. When everyone does this at once, the result is a downward economic spiral. The most concrete thing that neuroscience tells us is that when the fear system of the brain is active, exploratory activity and risk-taking are turned off. The first order of business, then, is to neutralize that system.
This means not being a fear monger. It means avoiding people who are overly pessimistic about the economy. It means turning out media that fan emotional flames. And unless you are a day trader, it means closing the Web page with the market ticker. It does mean being prepared, but not being a hyper-vigilant, everyone-in-the-bunker type.
For you leaders out there, Burns words are really worth remembering and acting upon for two reasons. As the economy reels from the loss of more than 500,000 jobs in November alone, we’re seeing corporations and consumers alike battening down the hatches. There is solid reason for caution here, no doubt. And the reality is that many folks have fallen into extremely tough times. But, if you’re smart enough? lucky enough? to still have your home and a job these days, choosing to constructively manage your fear is one of the most important contributions you can make to help turn this craziness around.
Even stepping away from the macro picture, there is an immediate and personal return to you as well. I watched a client of mine, a very talented leader, do this just the other day. He had just come out of a very tough meeting with his boss and peers. This leader walked away knowing he had two choices – to react to the negativity that came out of that meeting or to refocus on what really matters. So he took a little time out, away from the business, to read and reflect on his purpose statement and his values, and to think about what the team might need from him to get things back on course. He quickly found that he could let go of the crap and shift back to a more positive state of mind. Then he took simple, direct action from that bigger perspective (versus from a small/closed/reactive place). He was able to communicate a way forward that helped the organization not get bogged down in dysfunction and fear. And was actually seen and thanked for his leadership in a very stressful time, as a result.
The impact of leaders in organizations is like a pebble being dropped into a pond – your state of mind and actions ripple out in progressively larger waves. Your physical, emotional, mental and spiritual state therefore MATTER. Too many leaders feel like they are being selfish, or that they are taking time from “real” work, if they step away for even a moment to decompress and get their heads on straight. As a result, they can’t help but end up feeding the fear and negativity running rampant all around them. Ironically, they could actually lower their own stress, find better solutions, and redirect their teams back to seeing the forest beyond the trees – simply by taking a little time off-line for themselves.
I call this Making White Space. At the most tactical level, “white space” is regular time on your calendar (even an hour a week) to clear your mind, reconnect to what is most important and to plot out strategies to deal with obstacles and continue progress toward your goals. White space is the “how” behind the “why” Burns wrote about today – a way to neutralize the impact of fear and to engage the exploratory, risk-taking, and creative thinking that our brains are so beautifully designed to do.
Come back next week and we’ll start to wrap up this series on Getting Out Ahead: Stop Reacting and Start Leading with some practical tips and best practices for making some white space in your world.