Psychology of business

Business Psychology

When you mention the terms business and psychology, people typically believe it’s a recipe for unlocking the client’s subconscious. They hope that by connecting with them they can buffer the bottom line. We tend to believe that the power of our business lies directly with accessing the inner thoughts of consumers. However, the most powerful tool a business person has at their disposal lies in knowing themselves.

Starting a business is so inspiring and we often believe that it ought to be simple. The truth is, when you start a business, you have a never-ending to-do list. You alone are responsible for every aspect including generating business, creating possible future revenue streams and maintaining infrastructure. This left me wondering what the difference was for those who were able to reach their business goals. Through talking to a few successful entrepreneurs, and looking at research, it became clear that there are a few consistent themes.

The standout, pivotal knowledge that one can have appears to be in knowing yourself. Truly understanding your strengths and weaknesses is a strength in and of itself. Think about the habits people develop to avoid thinking about themselves in their entirety. Not always fun, but important. Once you evaluate yourself, you know what you need going forward.

Defining your weaknesses gives you the ability to know when you need to call in reinforcements. We all have our blind spots and have become accustomed to predefined roles that we may or may not acknowledge. Investigating predefined roles is the first step in shedding that persona. To determine what has been placed upon you versus what is part of you is the challenge. Once you have found it though, it can facilitate a sense of freedom.

On the positive side, self-analysis can also serve as a catalyst in deciding whether you like the role that you have taken on in your family, life, business or relationships. Click To Tweet

When researching and talking to clients and people in the broadcasting industry, I often come across some incredible stories. These stories make you realize that many people have been digging deep for years in a state of self-analysis. This can happen a decade before they see significant progress. This ongoing thoughtful process has led many to a slow and steady metamorphosis that many suggest is crucial for success. They are among the most fascinating, resilient, and inspiring people I have ever met, or studied. There seem to be a few common threads of experience that are prevalent in every story that I’ve encountered. Here they are:

Emotional Intelligence

Emotional intelligence, which includes understanding where your behavioural blind spots are, is important to forging better relationships. Self-knowledge is a big part of emotional intelligence. It means you are able to objectively and compassionately see where you do things right and where you go astray.

Everyone has a blind spot. Be thankful if you are fortunate enough to have a trusted spouse, friend or mentor that is able to help you evaluate your weaknesses. It is also important to know when to take criticism seriously and when you shouldn’t. You will know the difference. Constructive criticism comes from a far more mature, compassionate place, in which people will respectfully discuss any issue. Alternately, un-constructive or extremely negative criticism, often has more to do with the other person than it does with you. The trick is evaluating whether the source is credible. If it is, then you should appreciate the feedback and not reject it outright. Hold those close that provide compassionate criticism; research shows they are important to your success.

Passion

Everyone wants to do well in business but few take the time to truly evaluate where their passions lie and how to make them part of their daily life. As adults, we get sidetracked with a number of various roles and responsibilities. We have also reached a point in which we have undoubtedly been subject to people projecting what they want us to be, sometimes beneficial, and sometimes not. When it comes in direct conflict with who we are or our personal goals, it can be problematic. Peeling away the layers of identity placed upon us by others, and coming back to what is genuine, can take some time but it can also be a great catalyst for change. Once you peel back the layers, you can find your passion. This creates the foundation for the well-researched and power of the ‘state of flow’.

State of flow: This is a state in which you lose all sense of yourself and time. You are challenged enough, but not to the point of frustration. Not surprisingly, when people find themselves in this state, they often excel in that particular skill set.

Psychologists have investigated the 'state of flow' and have determined that the more time you find yourself in this state, the healthier you are both physically and mentally. Click To Tweet Oh, and you’re happier! Not surprising, since you are doing something you love to do, more often.

Purpose

When people don’t have a purpose they tend to revert into self-defeating habits. These maladaptive habits help to hide the reality that they don’t have a sense of purpose or direction. People who have a purpose connected to their passions, live longer, have stronger connections to other people with a common goal, and are happier. Everyone is passionate about different things, so no one can tell you what gets you moving in the morning and what your purpose is. It doesn’t have to be as daunting as changing the world, but it should really resonate and make sense to you.

Does passion lead to a purpose or does purpose lead to passion? Who knows? This is a different journey for everyone. Everyone’s story is different. The challenge is to be sure to take an active role in unraveling your story.

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