Bankrupt

We find comfort in things which are familiar to us. We use terms like “financial security” and “stability” as characteristics of things in our careers and our lives, which make us feel comfortable. It makes sense… Predictable outcomes give us the peace of mind that our life is humming along as we have expected. When something doesn’t go as planned. When the outcome strays from our expectations, it causes different parts of our brain to react and causes a stress response, even if it’s not minor.

U.S. Air Force Colonel John Boyd coined a model known by many in military and civilian law enforcement as the OODA (ooh-duh) process or OODA loop. The acronym stands for Observe, Orient, Decide, and Act. The first time our brain experiences a new stimulus, it must work through this process to observe the situation, recognize patterns and associate this new event with something it is familiar with, choose an appropriate response, and take action. We do this all day everyday, without even realizing we are doing it. At first the process causes stress and takes a great deal of brain power, however, over time, through a process known as myelination, the brain carves neural pathways connecting this loop, as a shortcut or template for dealing with this stimulus. Over time, it becomes an automated process and the stress response goes away.

All this to say, this year has certainly created new OODA loops in our lives. At first it was reacting to business closings and kids learning from home. Then it was orders to distance from one another and wear face masks. We’ve seen devastation to entire industries, our economy, our routines, and our way of life as we knew it. We started the year off with high hopes and a bullish stock market only to find ourselves in an induced recession, waiting for the other shoe to drop. I see it in people everywhere I go… short fuses, exhaustion, apathy, and dismay. Some people are stuck spinning, clinging to the world they knew. Meanwhile, others are taking control of their lives and effecting change. The question is: Will you be a change agent? or will you cross your fingers and hedge your bet on a return to normal?

Our thirst for comfort and predictability drives our workforce to “safe” industries when times are rocky. Anecdotal as it may be, the 2008 recession pushed me toward government work, as it seemed to be a stable environment as I watched businesses shutter. I wasn’t alone, as thousands (yes, thousands) applied for the same position I was vying for. Only one year earlier, they couldn’t get people to apply for my job; and the same thing happened again in 2015, after the economy fully stabilized from that recession. We’re on a different footing now as we enter another recession and the arm of government I was in, law enforcement, is contemporaneously under attack, with calls to de-fund and disband our police agencies. What does one do?

Our most primal responses to a stress event are known as Fight, Flight, and Freeze. Most people, when faced with a challenge resort to the last two. I’ve spoken with business owners who are afraid to make changes, even if their peril is imminent and clients who can’t think of making a move, because it would mean releasing their clutch on the security blanket of the world they knew. There is one thing I can say with certainty, if you choose not to take action, you choose to let others decide your outcome.

Those who will survive this recession and emerge stronger will be those who used their OODA loop as a means of observing their surroundings; orienting to the change of the week, month, day, etc; deciding upon an action which would propel them forward; and taking immediate action. Delaying another day would only force them to repeat the cycle again and place them into a perpetual OODA loop.

What if your business has been made obsolete? What if the direction you are headed no longer aligns with your mission or your values? Is now the right time to embark on a new venture? Perhaps so. You will never know, unless you open yourself to the opportunity, run it through your OODA loop and take action.

The economic condition of the world should not dissuade you from changing your path or pursuing that dream you’ve put off for years. What do Disney, General Electric, Microsoft, AirBnB, and Netflix all have in common? They emerged during economic downturns. AirBnB, founded in 2008, was created to fill a need of homeowners who could not afford to stay in their homes. The service seized the market of the moment and provided a platform to allow disadvantaged homeowners a way to rent extra rooms in their house, to make their mortgage payments. Perhaps your next opportunity is not in an established industry and will result from your finding a solution to a problem, in our new landscape.

It’s easy for a business to succeed in a strong economy. So easy that almost anyone can do it. It takes an economic shift to send those who weren’t prepared and who hadn’t laid a strong foundation chasing greener pastures. The spoils will go to the few who choose to take action in this cold winter battle. How will you emerge?

If you are stuck, make the choice to get the help you need, to move in the right direction. A business coach can help and my first consultation is always free.