Using your "Wise Mind" in Business

The current economic downturn has many of us worried about the future of our business ventures. Questions about the viability of our products and services, concerns about how we will pay bills, fund (or launch) a new business and make enough to live on leaves us feeling overwhelmed and discouraged. Our protective instincts tell us to retreat from new opportunities right now, however, the savvy business thing to do is to stay the course and use the changing marketplace as an opportunity to find new ways to generate revenue and rethink how you do business.

So how can you do this when you feel so much fear? The first step is to make sure you are making decisions from your “Wise Mind.” The “Wise Mind” is a Buddhist principal based on the concept that each of us has a rational side and an emotional side to our brain. The “Wise Mind” is the part of the brain where the two intersect. The most prudent decisions are made when both minds are considered and the balance between the two, or the “Wise Mind”, is used in the final analysis.

A great example is a business woman who decides not to invest in marketing her services due to the recession. Her emotional mind screams, “I can’t spend any money on marketing because no one will hire me in this economy.” Her rational mind says, “I need to make sure all my market efforts will get a 100% return on investment because I don’t have any money to spare.”

Reality lies between the two and goes something like this, “I am scared my business will not survive in this tight marketplace, but it is important to continue to let customers know about my products and services through marketing, which is likely to get a less than perfect return on investment, but should result in some new business.”

So how do you access the “Wise Mind”? Here are few simple steps to follow to get you into a place of balance when making business decisions:

1. Draw a Picture. Draw two large circles that overlap on a blank piece of paper. Label one circle “Rational Mind” and one the “Emotional Mind.” Shade in the intersecting area and label this the “Wise Mind”.

2. Teach Yourself the “Wise Mind” Concept. I have used this concept with coaching clients, corporate clients, children, adolescents and adults. It is an easy theory to grasp and it helps people put words and a visual picture to their internal experience.

3. “What mind are you in right now?” Just ask this one simple question to help identify what type of thinking you are currently using and how far you are from the “Wise Mind.” I have my clients put a dot in the circle to help me understand how entrenched they might be in one type of thinking. If the dot is far upper right, I know that they are firmly planted in the emotional mind.

4. Journal or talk about it. Simply have a dialogue in writing or with a trusted friend, colleague or coach about what mind you are using, how this current thinking style serves you and how it gets in the way relative to your business decisions. Lastly, ask yourself what would need to shift to tap into your “Wise Mind”?

The “Wise Mind” technique is simple but it works wonders. So the next time you are facing a business dilemma make sure you bring your “Wise Mind” to the table!