Mindset is so important. That’s why it’s one of the first skills we measure and develop in my Family Business Decathlon Coaching System.
Think about it. Do a search on famous quotes by Henry Ford and the first one that comes up is, “Whether you think you can, or you think you can’t — you’re right!”
Most family business families not only impact their family but they impact all of the families that are connected to the business. That’s why it’s so important as a family to build and maintain a great mindset. An important element in family business succession is developing and transferring the right leadership traits to the next generation.
It’s easy to have a great mindset when everything’s going well like it was eight weeks ago. When you hit rough roads it’s more difficult to maintain the ideal mindset. Be assured that everyone in the family and in the business is going to follow your lead.
Here’s a simple exercise to do with your family to check their mindset and build a good mindset.
Get everyone together and ask the following question:
What is your general mood or mindset right now in relation to the current crisis and the short and medium-term future?
Then just sit back and listen. One of the most important, valuable results in coaching is to give everyone a chance to stop and reflect upon where they are.
If everyone in your family says they are doing good and feeling okay about the future, then that’s great you know that you have a strong, resilient family.
If some or all say that they are concerned, upset or a little down about the current situation, that’s normal and understandable.
Ask everyone to take a few minutes to reflect on everything they have to be grateful for if they are feeling down. Rally around the idea that your family has weathered many storms before and they will successfully weather this one.
Set a Good Example
Now is the time to think about how important it is the family maintain a positive, resilient mindset. Think about all the people that are counting on you to set the example.
Remember fear is natural. Courage and great leadership is about taking action in the face of uncertainty. Great families have great leaders who provided their families, companies and community, courage and determination in the midst of crisis.
I believe great teams are a result of deliberate practice. Bring your team together and ask them to reflect upon their own mindset and think about ways that they can have a good, strong attitude that will be contagious to everyone around them during a difficult time.
If you study great accomplishments in history, many times you see that some of the greatest moments come in the face of some of the greatest challenges.
Be a leader, get your team together and help them get in the right mindset.
Pete Walsh is a demanding, courageous and playful Master Coach in Phoenix, Arizona. He is the founder of Peak Workout Business Coaching and the Family Business Performance Center. He can be reached at firstname.lastname@example.org.