In a previous post, I went through a SUCCESS magazine article that really challenged my thinking about my past choices and the small, seemingly unimportant daily decisions we make. The article specifically addresses actions or errors in judgement that can lead to failure. We all experience these failures personally and professionally over the course of our lives.
“Failure’s most dangerous attribute is its subtlety”.
My post presented 3 tips for you when reflecting on your daily choices:
- Take a few minutes every day to “fast-forward the tape” and look a bit further down the road
- Tap into your inner disciplines and creative imagination
- Involve others that can help lead you through a visioning exercise for “Your Future You”. You can make different choices today if you keep this future in mind
Emotions and Change
In this post, I deal with the power of emotions when navigating changes in your life. Great leadership and successful change management requires you to have a solid understanding of how people react and adapt to change. This must involve a solid understanding of people’s emotions. The SUCCESS article reviews 3 key emotions that drive action and I outline them below.
“Emotions are fuel and the mind is the pilot, which together propel the ship of civilized progress”. Jim Rohn.
First, saying “enough is enough” is generally a feeling that the current situation can no longer continue and you begin to ponder something new. This emotion can be incredibly positive if you allow it. The challenge with business successions and estate planning is that the present situation may actually be really good. Family and staff get along well. You are physically healthy. The business is doing great. The future prospects are encouraging. So, how can you leverage this emotion to drive change?
Igniting this emotion: Here are a few tips:
- Sit with your trusted advisor to help you “fast-forward the tape” a few years ahead.
- He or she may take you through “the 5 D’s”; Death, Disability, Disagreement, Divorce, Debt, These unplanned scenarios can be potentially crippling for any business.
- You likely know businesses that have experienced the negative effects of one or more of the 5 D’s.
The point of the above activity is to stir a sufficient level of the disgust emotion within you to protect and reduce risks in your own situation. However, do not attempt this process alone!
Second, we all know that this emotion can really take hold of us – for the good and bad. Marketers and advertisers have this figured out. The end message of most advertising is to leave a burning “I want it now” feeling inside you. How do you move toward “Your Future You” with an “I want it now” feeling? Learning from the marketers, we need to tap into our imagination and become really curious to explore what moves us.
Igniting this emotion: In my experience working with business owners, you require two things:
- Connect with a trusted advisor that uses a visioning framework: In working with business owners over the past 2 years, I’ve developed a unique framework to help you build a better picture of Your Future You. Please reach out and I would love to have a conversation in this area. I also know of a few financial advisors in the area that are amazing at this as well.
- Refer to “Your Future You” regularly, and let it percolate and evolve over time
Lastly, entrepreneurs know all about this emotion. You live and breathe it every day in the business, overcoming one obstacle after another. Unfortunately, as I wrote in an earlier post, some of the key entrepreneurial traits you possess, including this one, can actually get in the way of building a successful succession or estate plan. So, what can you do about this?
Igniting this emotion: Understand and further explore your strengths.
- How can you use some of your entrepreneurial and creative strengths to craft a succession or estate plan that is as unique as you and your family’s fingerprints?
- How can you ensure you continue developing key strengths once you exit your business?
- Question your current image of Your Future You and determine whether it is helping you run toward or away from this inevitable, and potentially most challenging and interesting time of your life.
In closing, the SUCCESS article really pushed me to reevaluate my daily choices. I have become more curious about my emotions that are driving my choices (or inaction), especially the three key emotions in the article. I am now more confident that I can move toward my preferred future.
And note that these past two posts present material that can be widely applied to any change initiative you are trying to push through your company or team. Test it out for yourself using a change initiative you are currently going through and I know you will be amazed at the results. I would love to hear what you find out, so please connect with me to share your thoughts, ideas, etc.