How To Develop The Right Business Mindset: F–K Recession

Building a business during good and bad times can be challenging. Especially during difficult times, it’s best to learn how to develop the right business mindset.

Building the right business mindset starts with putting yourself in a positive environment. Along with that, you’re able to focus on what you can control- instead of what takes place around you. You have the power to not participate in a recession.

As bold as that may sound, every individual has the option to not take part in such an event.

Or to go all in on business: It’s more about what you can control rather than focus on other people making decisions for you.

In this article, I will define what a business mindset is. Also, I will tell the story of how a 78-year-old bank teller foiled a robbery. Then I will lay out a few tips on how you can avoid saying no to a recession.

  1. What Is A Business Mindset?
  2. 78- Year Old Bank Teller Foils A Robbery
  3. Reasons For Saying NO To Recession

4. My Thoughts

5. Questions To Ask Yourself

How to develop the right business mindset: This post will discuss some tips to having the mindset for business.

What is a business mindset?

A business mindset is something crucial to have: It’s one that entails helping people first, along with planning ahead of time.

Although money is important,  it’s important to put your customers first. But also provides value.   It consists of planning for the long term and thinking of unexpected situations that could come up.

There are no guarantees of success in business, so it’s important to keep in mind when it’s going to be needed the most.

How To Develop The Right Business Mindset: Say NO To The “R” Word

78-year-old bank teller foils a robbery

To get a better understanding of a recession here’s a simple story of a possible bank robbery taking place:

One afternoon, a robber decides to pick on a 78-year-old bank teller to succeed in a robbery attempt. He thought he could get away with it by picking on an old lady- but he was absolutely wrong about that.

As he approaches the bank teller she tells him to scramble off. She had the attitude of “No you’re not going to take away our money, so get the hell out of here.”

This story is from a book that Ray Edwards wrote in his copywriting series. The purpose of it is to remind people not to be victims of an economic downturn, such as a recession.

Even though they’re not the best times, we can have the right attitude right before the recession hits.  When we have this thinking in place, we’re better at planning ahead.

As the bank teller would say, “Not today mister. Get out of here!”

How to develop the right business mindset

Having the right business mindset means being committed during challenging times. You know not to participate in external events that you don’t have complete control over. 

Also, putting yourself in a positive environment can help as well, especially staying away from negativity. Let’s go over some tips and how to do that.

How to develop the right business mindset: This graph lays out three reasons for having the right mindset for business.

Reasons to say NO to recession

Do not participate in it

If a recession is taking place you don’t have to participate in it.  I believe it’s best to stay away from things that are out of your control.

For example, if you’re invested in the stock market and you don’t understand how it works, you’re gambling your money. In that case, you’re more likely to lose money.

If you do understand how markets work you will make better decisions. Especially when it comes to making money, you can avoid potential losses.

But if not, I recommend not participating. It’s best to just get out if you don’t have a complete understanding of financial markets.

Best tip:  Don’t do what 90% of the world is doing

What most people are doing today is likely not the right thing. So it’s best to be part of the 10% who are succeeding around the world today.

“Be fearful when others are greedy, and greedy when others are.”

-Warren Buffett

Put yourself in a positive environment

When a recession hits, a lot of negativity can take place. So if you’re in that type of situation, it’s best to put yourself in a positive environment.

So surround yourself around others who support you. These are people who will uplift you and will help you get through difficult times.

It’s best to stir away from all the negativity that will take place. These could be people you know or what you consume on a regular basis, especially the news. 

Today’s media coverage is mostly negative and biased. News organizations operate like businesses; therefore, their goal is to make money by getting more eyeballs or clicks online.

That’s what drives fear into people when they consume negative news. It’s not worth it, so it’s best to avoid watching the news whenever you can.

The same thing to social media if you don’t want to unplug from it, you will want to monitor and limit your time on those platforms.

It may be contrary to think positively all the time. But if you put yourself in a bad position, you’re going to feel fearful and uncertain.

What is the right mindset for business?

The right mindset comes with a commitment to long-term success. It means putting time and effort to make something a reality- even during difficult times. 

You’re able to focus on your situation instead of relying on external events, such as a recession. In other words, focus on what you can control rather than relying on other people to make decisions for you.

Focus on yourself

It may sound selfish. But when you need to focus on yourself, you have to do what’s in your best interests to help yourself and others around you.

Keep in mind: Only you can decide what’s best for your interests. 

If that’s running a business you know that you will have complete control and ownership of that.

If you have the right mindset and are able to make the right decisions, you will have the best resources to help you along the way.

You don’t have control over external factors, such as events taking place around the world. But when it comes to your well-being and success, you have complete control over the decisions you make in your life.

If the focus is more on the internal than the external then you’ll be far much better off when you are confident in making decisions for yourself.

A relevant article from notimekillers.com

Read next on “How To Focus On The Things You Can Control: 5 Tips To Tackle“, to understand the things you can start controlling today.

My thoughts

Whether we’re in good or bad times, you have control over how you make decisions for yourself. If that’s during the recession. you can say no to participating in it.

If you’re uncertain about investing in the stock market then don’t do it. Besides, you can make bad decisions that could result in losing a lot of money.

But if you focus on things that you can’t control, you can start on the right path to success. Instead of investing in the markets, it’s much better to invest in yourself.

If it’s learning a new skill or building a business for yourself, you have more control over how you go about that situation. 

Some people say investing in yourself is the best decision you can make to improve the quality of your life. It provides the best return on investment when you build your human capital.

When bad times come, you know to live with them and just focus on what matters to you the most.

Questions To Ask Yourself

  • Does a recession scare you, or does it motivate you?
  • Will you refuse to take part in the next recession?
  • Will you finally cut negativity out of your life? Will you focus on building a positive environment for yourself?

A relevant article from notimekillers.com

Read next on “Is Another Recession Coming? Why It Matters To You“, to find out if another recession may be on the horizon. Get my insights on what can happen soon.

Final Words

When a recession hits, it’s not necessary to panic or think all hope is lost. All that means is it will be a temporary period of financial hardship but also changes for the better.

How a recession unfolds is completely out of your control. 

But if you can focus on what you can control, you can put yourself in a better position to thrive no matter what happens.

It’ll allow you to make better decisions for yourself and your business. If you have that confidence, you have a lot more power over what you can do to move forward in life.

Your Turn: How will you overcome a recession?

I would like to get your thoughts on this topic. Are you fearful when a recession hits?

When it takes place do you tend to have a victim mentality? If so, how can you take control of your situation?

Are you constantly surrounded by negativity? What can you do to put yourself in a positive environment? Is that avoiding the news altogether or being around people who will support you no matter what?

Are you fearful of living in bad times,  or will you step up and take charge of your situation?  

Do you have what it takes to be successful in business?

Feel free to share your thoughts by leaving a comment below. I look forward to reading your thoughts, and I’ll gladly respond promptly.

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Eric is the owner and chief editor of notimekillers.com. 

He takes great pride in helping people manage their time and grow their businesses. 

Eric is a firm believer in financial and time freedom, as he believes in financial independence and taking ownership of your time. 

“Time is your most important asset. It can be your best friend or worst enemy. How you use your time can shape the future you desire to have.” 

In his leisure time, Eric loves to write and read whenever possible. He enjoys going for long walks outdoors while doing in-home workout videos every week. 

You can also connect with Eric via LinkedIn.

Self Photo 2019: Here's a picture at a building in downtown Chicago.

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