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Effective problem-solving requires Thinking and over-thinking creates problems. In the world of small business, the power of thought is a formidable tool that leads to success. To navigate the delicate balance between effective problem-solving and overthinking, entrepreneurs can embrace the acronym THINK, drawing wisdom from various sources.
T – Trust Your Instincts and Intuition: Embrace the philosophy of successful individuals like Warren Buffet and Oprah Winfrey, who emphasize the significance of intuition and authenticity. Trusting your instincts allows you to make confident decisions and avoid the trap of overthinking. Developing a strong intuition and good instincts often comes from making mistakes. According to motivational business and life coach Tony Robbins, “Success comes from good judgment and making good decisions, good judgment comes from experience, and experience often comes from bad judgment.” successful people learn to view mistakes and failures as lessons and carry those lessons forward for their betterment and not to their detriment.
H – Handle What’s Within Your Control: Inspired by the Stoics like Seneca and Plato, distinguish between what you can control and what you cannot. Focus on internal aspects, such as strategy, learning, and self-awareness, while letting go of external factors beyond your influence. To be true and authentic to yourself, avoid putting any weight on what you imagine others may be thinking about you or your decisions. None of us can know what others are truly thinking; most likely others are only thinking of themselves and not even thinking about us. You have to live with your thoughts, decisions, and actions; they don’t.
I – Invest in Continuous Learning: Adopt Warren Buffet’s advice and commit to constant learning. Investing in knowledge equips you with valuable insights, empowering you to make informed decisions and minimizing the tendency to overthink. In these times, just about anything you want to learn is available via the internet, books, and courses. It’s not that success is not available to you. The question is, are you making yourself available to success? Part of your budget must be invested in professional and personal development to continually get and be better at what you do and how you do it. This goes for all the people in your organization.
N – Navigate Calculated Risks: Follow the lead of Richard Branson, who advocates for taking calculated risks. Embrace challenges as opportunities for growth and see setbacks as part of the learning process. This mindset helps you move forward confidently and avoids the paralysis of overthinking.
K – Keep Objectivity in Decision-Making: Practice objectivity, just like the Stoics recommended. Observe situations impartially and base your decisions on facts, reducing the impact of emotions and minimizing the negative effects of overthinking. Keep in mind, emotions are real and welcome in business. In no way am I suggesting the negation or ignoring of emotions. What I do advocate is assuring that you have the right data and information, on which you are evaluating, and then best regulating your response based on what actually is the case versus overreacting to an emotion which is manufactured from overthinking.
By incorporating the THINK approach into your business mindset, you can enhance your clarity of thought and decision-making. Remember Tony Robbins’ powerful words: “Stay committed to your decisions, but stay flexible in your approach.” Your capacity for success knows no bounds when you THINK clearly and act decisively.
Make it up, make it fun, and get it done!
Related: The Myths of Imposter Syndrome: Unmasking the Truth