The Mentor Advantage

What’s the difference between coaching and mentoring? 

It’s a question I often get asked.

This time the question came from a young CEO inquiring about one of my interactive learning sessions.

Much like harvest gold or avocado-coloured appliances, formal mentoring is something one doesn’t see much anymore. However, that doesn’t mean it’s not valid or necessary.

For centuries the idea of mentoring was considered a cultural norm. It was the time-tested way to learn one’s craft and get ahead. But, first, one would go into a line of work under an ‘apprenticeship’ arrangement where they would work under someone with more experience to learn a trade. This was simply a very formal arrangement that holds the seeds of what modern mentorship looks like today.

A quick search reveals that the major business publications like Forbes, McKinsey, and HBR are now touting the superior benefits of finding the right mentor for leaders who want to grow.

If you cannot see where you are going, ask someone who has been there before. – J Loren Norris

My short answer to the question is that today there are some similarities and overlaps between formal coaching and mentoring approaches.

However, there are also some distinct differences.

Mentoring can be personal and long-term, helping the mentee reach their overall potential as a person and as a professional.

On the other hand, coaching is more likely to be more short-term and aims to improve a specific skill set of the person being coached.

Beyond that, the differences lie in the expertise and skill level needed, overall focus, questions to be answered, and the desired outcomes.

A mentor is someone who sees more talent and ability in you than you see in yourself, and helps bring it out of you. – Bob Proctor 

As an Executive Advisor and Leadership Coach, I incorporate the best elements of coaching and mentoring into my working relationships.

One reason I regularly write about leadership topics is to foster long-term mentoring relationships to share with colleagues and clients.

 In today’s world, we put much value in being a self-starter, getting our own lives in order without help from anyone else.

There are some aspects of life where we feel we might be looked down on if we ask for help.

We have this limiting belief that we should be able to do it all on our own, that asking for help is a sign of weakness. But in fact, just the opposite is true.

The reality is that recognizing you need help usually indicates an advanced level of honesty and intelligence. 

But let’s face it. When you first embark on a new journey, whether professionally or personally, you feel much better when you have someone you can approach when you need help.

  • Someone you can talk to about your goals.
  • Someone who not only listens but can ask questions from earned experience when you get stuck
  • Someone with insight and intellect who is there for the sole purpose of helping you to get ahead.

  Finding a good mentor can help you:

  • Boost your leadership and communication skills.
  • Deepen the knowledge you already have.
  • See things in a new way.
  • Become more aware of the needs of others.
  • Feel more self-assured and confident

 You see, mentors are incredible individuals who have a sincere desire to give back to the world.

They want nothing more than to see you succeed and have the tools to help you do it.

Depending on the situation, it’s essential to recognize that mentoring can be a paid or unpaid arrangement.

The truth is that mentorship is necessary if you want to get ahead.

Mentorship could be considered the original life- hack. LE

 It holds all the shortcuts and gets you where you want to go faster than you could in any other way.

So we all need mentors, whether we realize it or not.

In retrospect, I’ve benefitted enormously from the mentors who have spoken into my life.

 I try to recognize and honour them whenever I can.

On the flip side, I’ve also found incredible value in being a mentor. I love sharing my experiences and observations with people eagerly looking to improve themselves or achieve new goals.

That is the beauty of mentoring.

It’s a relationship where we can both give and receive for mutual benefit and advancement in our lives.

Until next time,

Lorne

For more resources on this topic, drop me a line, and I’ll send you my guide:

(Free for the asking)

SEARCHING FOR GUIDANCE

20 Things To Look For When Seeking The Perfect Mentor

Three Strategies to Combat That “Not Doing Enough”Feeling

The Unhealthy Comparison Merry Go Round 

Face it. We all play the comparison game. It’s how our caveman software works.

The grand illusion you and I are subjected to each time we spend time online is what success supposedly looks like.

When you scroll through social media posts, you may feel compelled to compare to a perception you see.

Unfortunately, people mostly share the shiniest version of what they want you to see. Skills are highlighted, and flaws are hidden. Wins are exaggerated, and losses are downplayed. Doubt and anxiety are rarely featured in social media posts. Defeated heroes and failed CEOs rarely sit for interviews.

Reality dictates that most things are more challenging than they look and not as fun as they seem. It’s also true that everyone has bad days, and no one has a picture-perfect life. We get a highlight reel of what people want you to know about themselves to increase their own chances of success. Unfortunately, we tend to compare that to the worst parts of ours.

When you compare others’ portrayal of success to yours (or lack thereof), you do yourself a disservice. Revisit what you want to get out of life and go for it. Success to you may be freelance writing from your van as you travel the country. That is perfectly ok and worth pursuing.

Antidote: Recognize when you find yourself on the unhealthy comparison Merry Go Round. Then just hop off it! 

Expectation Management

Leadership is all about managing expectations: Your own and that of others.

Your goals and ambitions need to be based on reality. If they are unrealistic, you will be perpetually stressed and criticizing yourself.

If the timeline for reaching your goal is unrealistic, consider adjusting things to be more realistic.

Consider what you want to get out of life and go for it.

When It comes to having expectations of others, I’ve learned to definitely have them and hold them loosely. When others perpetually disappoint us, it’s easy to grow frustrated. If your team or colleagues are underperforming against your expectations, it’s time to ask yourself how you expected them to act and why. People can only give you what they’ve got.

Disappointed expectations often stem from flawed assumptions. For example, I might assume someone understands what I’m conveying and what I expect, only to discover I’m dead wrong.

Proceeding without an agreed-upon assumption checklist is a sure-fire way to have things go wrong later. On the other hand, you will rarely be disappointed if you go into every situation with well-informed assumptions.

Antidote: Have a robust feedback eco-system. Every good leader I know has their own pipeline to reality. This allows for well-informed assumptions, decision-making, and planning.

Shorten the To-Do List

This might be too simple, but as we know, simple isn’t always easy.

So, often we feel inadequate simply because our to-do list has grown too long.

Learn to divvy things up according to priorities. Then, choose three items that you would feel accomplished if you could only get those tasks done today.

Why three? Well, two’s not enough, and four often is too many.

But hey, – you do you and decide what works.

It helps to remember that life is a journey. So we often get caught up in attaining the goals, and we fail to enjoy the detours and scenic viewpoints along the way. It might be time for you to look back at how you have grown as a person while pursuing goals, even if you haven’t quite reached them.

I’ve found it helpful to journal accomplishments that I can be quietly proud of.

Not in a “hey look at me” kind of way but in a “yeah, I got to do that, and it’s pretty cool !” kind of way.

Even small achievements are worth celebrating. Celebrating how far you have come will boost your morale and set you up for more success. For example, maybe you got in a 30 min daily walk for the last two weeks after being a couch potato for months. That’s an activity win to get excited about.

Antidote: Keep a viable running to-do list but make sure it’s not stressing you out. Journal the good things and accomplishments you’ve been privileged to be a part of.

Until next time,

Lorne

Turning Your Endings into New Beginnings

This recent article in the New Yorker caught my eye.

Soon I was laughing out loud.

Let’s just say I relate. After all, who knew I’d be pursuing a new career after my 70th birthday and lovin’ it.

Changes!

I’ve seen a lot of them. Whatever era you hail from, there’s an iconic playlist anthem about starting over. Whether it’s Stevie Nicks (Landslide), David Bowie (Changes), or Beyonce (I Was There), changes and fresh starts play a decisive role in our lives.

The global pandemic is winding down, and there’s a lot of “churn” and foment happening.

Starting over. Reboot. Makeover. Shot at redemption. Fresh Start.

Call it what you will. We’re at that point again.

Not every New Beginning comes about because we want it. Sure, many do.

We can get excited about moving to a new place or starting a new job. But sometimes, the process of a Re-Do can feel more angsty than positive. We might be leaving someplace where we’d rather stay. Even if the outcome is good, proper, and necessary, there are always memories and baggage to sort through. The new beginning which follows can feel more overwhelming than exciting.

So, how do you cope with these situations? How do you do it in such a way as to take something positive away from experience?

It’s not quite as complicated as you might think. And no, it’s not just a matter of a fresh mindset, though this can help. Sometimes your endings will take a little more work to shift them into new beginnings.

Here’s my brief guide.

Start with Saying Goodbye

There comes a time when you will have to let go of the past to make friends with the future. It’s really up to you what this looks like. Some people find journaling about the process helpful. Others need to process verbally and talk things through. Depending on your circumstances, counseling or coaching may be a good idea. Whatever you decide, remember to give yourself time to process. Some baggage takes a little time to unpack. It’s never good to rush the “goodbye stage.”

 

The first step towards getting somewhere is to decide you’re not going to stay where you are.” –  “J.P.” Morgan

Look for the Silver Lining

OK, maybe this fresh start wasn’t at the top of your list, but this doesn’t mean it isn’t an excellent opportunity to accomplish something you’ve intended to do—Hunt out the good in the situation. Who knows, it might be you even have reason to celebrate this fresh start you didn’t see initially.

Get Your Head on Straight

Once you’ve started looking forward, it’s time to assess the situation. What are your options? What do you need to accomplish, and what would you like to do? The great thing about a fresh start is it’s a chance to fix other stuff too. For example, you might need to move right now, but this doesn’t mean you can’t work on a few other things on your wish list, such as making sure you’re moving somewhere with a home gym or workout option nearby to create a new exercise plan.

Take a Reality Check

Not everything on your wish list needs to be dealt with immediately. Some things might require funds or other resources which aren’t available just yet. Others are simply too much of a fresh start all at once. There’s a lot to be said for pacing yourself and not setting yourself up for failure. What’s reasonable here?

 

“The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.” —Steve Jobs

Take Stock of Lessons Learned

If you’re being thrust into a change, chances are you didn’t have the optimal outcome in whatever was just ending. The good news? You can still take away something good from experience. So, before you get too deep into the fresh start, take a moment to ask yourself what you learned from the previous situation. There are lots of knowledge nuggets in endings that will serve you well going forward.

Adopt the Choice

No one likes being told what to do. If you feel like this fresh start is being forced on you, it can easily lapse into resentful feelings of victimhood regardless of the good you’ve found or the goals you’ve set. There comes a time where you need to step back and say, “Yes, I do want a fresh start,” making this situation your choice. This puts control back in your hands. Whatever happens from here is more like you want it to be.

Adjust Your Mindset

No fresh start will go well if you harbor resentment over the change. This is especially true if you feel forced into things. It might be you have to do some things you’d rather not initially, but this doesn’t mean you can’t embrace the change and still get some good out of it. Start looking for the best outcomes. If you need an added adjustment to the situation, try making a list of all the positive things which can come from having a fresh start right now. Find an outcome that excites you and makes you feel better about this Fresh Start.

 

“Failure is the opportunity to begin again more intelligently.” – Henry Ford

Know What to Hold Onto

You don’t need to ditch every aspect of your life because you’re engaged in a new beginning. There are things from before which were good and will be valuable moving forward. Take stock of these things, making a list if necessary to remind yourself you already have some great resources you can use in this fresh start.

Take Breaks

New beginnings can be draining, especially if there’s a lot of physical or mental work involved. Schedule some breaks when possible to prevent burnout or overwhelm in the new situation.  A little playtime can do wonders for keeping your spirits up. The nice thing? You don’t have to go all out on these breaks. Even an afternoon outside or with friends can change your mood for days. You get the most benefit from breaks when you take them regularly, so be sure to add them to your schedule nicely spaced out. That way, they come often enough to be beneficial, but not so often as to keep you from making positive strides on your fresh start.

Try Again

Sometimes the most daunting thing about a fresh start is the actual getting started. You might find yourself holding back, not wanting to take chances, and certainly not volunteering for new activities. While this might seem sensible, it’s the worst thing you can do. New beginnings are all about taking chances and trying new things. The way to get started and find a better attitude? It may take a few false starts but accept you won’t be perfect at whatever you’re trying to do, especially not on the first try. Remind yourself it doesn’t matter if you fail. This gives you another opportunity to learn.

You like that, right?

Try a Mission Statement

If you’ve come this far, you’ve set some goals for yourself and even feel like you have a reason for this fresh start. You may want to take this information and turn it into a personal mission statement that outlines your goals and what you want out of this next chapter. Why? Sometimes everyone feels discouraged, and it’s this statement which you’re going to come back to time and again to re-energize yourself. So it might help write this down and post it where you’ll see it and feel inspired throughout your day.

Appreciate Your Strengths

Look, you just came through a tough time, and you’re still going. This alone is worth more than anything else on this list. So take a moment to realize just how far you’ve come and how wonderful it is you’re moving forward.

Take it One Step at a Time

Nothing happens overnight. There will be various stages to your fresh start, involving many smaller goals and lots of small successes. Celebrate each marker as they come, and you’ll feel like you’re getting somewhere (because, of course, you are!)

 

“Take the first step in faith. You don’t have to see the whole staircase, just take the first step.” —Martin Luther King Jr.

Ask for Help

Hey, no one ever said you had to take on a Fresh Start all by yourself. There’s a lot to be said about support systems. Invite trusted individuals into your process by letting them know what you’re doing and asking for their encouragement. If you have mentors, go to them for advice. Or find a mentor if you don’t have one already. Remember, the key here is you want support for your New Beginning. The last thing you need is to “get the stink eye” from people who will only be critical or put down your efforts. This is the perfect time to create boundaries and keep those out while at the same time keeping your tribe close to where they can encourage you the most.

Persist

How are you at being stubborn? If you’re still not feeling it and are struggling to get going on this Fresh Start, the best thing you can do is just keep plugging away. Go back through your list and remind yourself of everything here. Try again and keep trying. The funny thing is that this persistence will pay off in the long run, especially if you can maintain a positive attitude and be open enough to try new things. Sooner or later, the fun will creep in, and you’ll realize just what a glorious opportunity this is. In the meantime, the very fact you’re still carrying on is something to take pride in.

Don’t be afraid of new beginnings. Don’t shy away from new people, new energy, new surroundings. Embrace new chances at happiness. L.E

You’re still in the game, and you’re still trying. So take a minute to give yourself a hand for being amazing!

Until next time .

                                                      Photo by Author 

Recent times have given us the opportunity to pause, reflect, perhaps change direction, or clarify what matters.

Pandemic restrictions have fostered an imposed simplicity of life and lifestyle that many were never previously accustomed to.

One outcome has been a resurgence of Minimalism. This countercultural movement has been around for centuries.

Minimalism has influenced art, music, design, architecture, science, business systems, and personal lifestyles.

I love it when an ancient concept comes roaring back with new relevance.

Wholesale changes in our lifestyle include spending less, saving more, working more simply from home, and rediscovering the great outdoors.

Me?  I loved it and lived it long before Marie Kondo started cleaning up, Elon Musk decided to sell all his houses, or some guys made a Netflix movie about it.

The recent past has allowed us some head-space to evaluate everything. I mean everything from how we “do life” and how we do “do business.”

If you hold vague negative feelings about things like consumerism, clutter, debt, and all forms of distraction, you’re well on the way toward a minimalist lifestyle.

Don’t freak out. It doesn’t mean you have to toss it all and adopt a monastic existence.

The basic tenets are to combat the chaotic excesses of modern-day living.

History abounds with minimalists who adopted a simple living lifestyle in support of a greater life mission.

JESUS OF NAZARETH   Rabbi | Prophet | Healer

“What shall it profit a man if he gains the whole world but loses his soul.”

CONFUCIUS  Philosopher | Chinese Mystic

“Life is really simple, but we insist on making it complicated.”

 

LEONARDO DA VINCI – Inventor | Painter | Sculptor

“Simplicity is the ultimate sophistication.”

More recent examples include:

 HENRY DAVID THOREAU – Writer | Philosopher

“Our life is frittered away by detail… Simplify, simplify, simplify! … Simplicity of life and elevation of purpose.”

LEO TOLSTOY – Author | Essayist | Educational Reformer

“There is no greatness where there is not simplicity.”

ALBERT EINSTEIN – Physicist | Nuclear Scientist | Scholar

“Three Rules of Work: Out of clutter find simplicity; From discord find harmony; In the middle of difficulty lies opportunity.”

More importantly, Minimalism has become a viable antidote to what I’ll call the info-demic. Never before have we been carpet-bombed with so much information. So often, the data is conflicting and confusing.

Like guard rails on a mountain road, or radar in the fog, there’s a measure of wisdom in functional Simplicity.

There’s really no manual or rulebook for adopting Minimalism.

Here’s my take on how it works in real life.

Desires and Expectations; Deliberately expecting less from those around me and the world, in general, allows me to appreciate what I have. That doesn’t mean I stop striving for better. I can only do the best I can, and others can only give what they’ve got. Often that leaves gaps of unmet expectations. Approaching those gaps with a measure of grace and understanding smooths the bumps. Sometimes you find pockets of joy along the way.

Possessions; This means being intentional about owning only what you really need. I’ve started ditching stuff that no longer serves a purpose and stopped buying things for the sake of ownership.  This frees up resources for me to be generous with the people and the causes that I love.

Relationships;  Minimalism in this realm is brutal to explain but here goes.

Relationships have different degrees of value. I think of them as relationship “buckets.”

Some are purely transactional– like the guy who cuts my hair. We have some friendly chit-chat about family and life, but that’s about it.

Then there’s the relational bucket. Here’s where I relate and stay in touch with many folks, but it’s more at the “acquaintance” level.

My standard Facebook, Twitter, and Instagram Disclaimer:

Hi Ray! Great to hear from you, and I hope you’re doing well. Thanks for your Invitation to connect, but it was probably an algorithm suggestion – right?  Fair warning – I’m a minimalist FaceBook contributor. I do enjoy staying in touch with what’s going on for others (minus cute cats and what so and so had for breakfast)  So – just so you know – my FB “friend” bar is pretty low. You don’t have to loan me money, bail me out of jail, or visit when I’m in “The Home” or anything.

This usually gets a good response and opens the door for further conversations.

Thirdly, there’s the transformational bucket. These are my “spark” people who inspire me with their intellect, wisdom, care, love, and humor. Time together is always an energizing, uplifting, and nourishing experience. Hopefully, I do the same for them.

In the end, it’s about discerning which relationships add genuine value and making enough time for those who mean the most to you.

Thought Life;  Thought life minimalism involves confidence to not over-think (worry), underthink (neglect), or race ahead to check off as many boxes as possible. It’s being present and engaged while keeping the bigger picture in mind. Each day is a chance to engage fully in the joys, triumphs, sorrows, fears, faults, and near misses that make up a life.  Each day is a chance to do better and make a difference for yourself and others.

A Myriad of Benefits

Go ahead. Google “Benefits of Minimalism,” and you’ll quickly get the picture.

Personally, I enjoy the less stress, more freedom aspect of Minimalism. The additional freedom allows me more time to be productive. It leaves more room for people and causes I care about. Decision making becomes much easier because either it fits my value system or it doesn’t

Wrap Up

You see, simplifying, and removing clutter, whether it’s figurative or literal, isn’t the end result – it’s merely the first step. Understanding why you’re doing this gives you the traction to keep going.

Until next time,

Lorne

 

 

 

Resilience

Photo by Biegen Wschodni on Unsplash

I love this time of the year. The unmistakable scent of damp earth, cut grass, and fresh pollen evoke the real prospect of new growth and possibility.

Knowing that it’s getting warmer and lighter every day here in the northern hemisphere is such an appropriate metaphor for coming out of the darkness and hibernation of this past year.

It’s a great time to be alive.

An operative word for this time is resilience.

Our world has changed in ways we haven’t fully processed yet. A lot of strong conversations are taking place.

I believe that resilience is our current best response.

Resilience buys us time to adapt!

 

“More than education, more than experience, more than training, a person’s level of resilience will determine who succeeds and who fails. That’s true in the cancer ward, it’s true in the Olympics, and it’s true in the boardroom.” Dean Becker

 

Foolproof planning these days requires a more perfect knowledge of the future.

That’s just not available to anyone right now.

Resilience is that deep commitment to a mindset and a skill set that builds and rebuilds ecosystems that work even when things don’t work out as planned. Especially when things don’t work out!

Resilience buys us time to adapt.

Flexibility in the face of change is where resilience comes from.

As leaders, some look to us and rely on us.

I’ve often wondered why building resilience isn’t a key business imperative. My observation is that quite often just being human is at odds with work life.

Work can routinely bring stress, negativity, setbacks, and outright failures — and most of us are challenged to combat the effects.

We often equate resilience with overcoming extreme hardship or impossible odds.

Adequately understood, resilience can serve as an ever-present, daily mentor, helping us rebound from the collected frictions and pressures of work life.

Most of us just motor on— unaware of the increasing toll of emotional depletion — and building resilience isn’t considered.

I’ve been fortunate to have highly resilient people to learn from in my life.

I’ve also had personal challenges and circumstances where I could apply what I learned.

Here are seven observable characteristics of my resilient friends and mentors.

Networks of Support

Having a robust support system is an integral part of resilience. It really doesn’t matter who has your back in life – parents, friends, relatives, teachers, coaches, or colleagues. Real friends (not the Facebook kind) will give you understanding, guidance, and comfort when you’re struggling with a problem. They help you define your priorities and provide honest feedback just when you may need it the most.

Asking for help or counsel from the people who support you is a valuable life skill.

From my decades of work with marginalized populations, having a solid network always was a key determinant of capacity to rebound from the impact of life trauma.

“Others” Mindset

Resilient people aren’t very self-absorbed. They give freely of themselves to those around them. It may appear counterintuitive, but being generous or devoting time to a worthy cause (like volunteering) are helpful strategies to take the focus off your problems.

Helping others can help expand your life skills and problem-solving abilities. Giving back to yourself is also helpful. Proper care of your health and periodically rewarding yourself contribute to thinking and acting “resiliently.”

Stick -to -itiveness

Doggedness, grit, hardiness, stamina – call it what you will. Resilient people learn to accept emotional pain and stress as part of life.  They don’t allow their difficulties to define them. All the resilient people I know avoid personal pity parties. Instead, they recognize their feelings, acknowledge the problems being faced facing, trust that their ability to meet their problems, and believe they have the strength to maintain their emotional balance.

Change Happens

Accepting the fact that things are going to change is a fundamental part of resilience. When your goals, plans, ideas, or hopes are ruined because of unavoidable circumstances, a flexible and positive attitude will allow you to focus on new projects or new hopes. If you accept the things you can’t change or control, you’re free to put your effort into the things you can change and control.

Choice of Attitude

Most of the time, we don’t get to choose the obstacles and difficulties that life puts in our way. We always get to choose our attitude toward adversity. During hard times, it’s helpful to find something positive to think about and imagine a positive outcome. Even if you don’t have all the answers and even if the solution to your problems isn’t apparent, you can choose to believe that things will work out. You can tell yourself that your issues are manageable. You can choose to see yourself as a fighter, not a victim.

Reframe Perspective

When a resilient person faces adversity, they’re likely to avoid making things worse by jumping to extremes. Resilient people tell themselves that their troubles won’t last forever. They don’t see every bump in the road as a catastrophe; they understand that things can’t be perfect. Having realistic expectations of themselves, others, and what can be achieved is the answer.

Humor

It’s been said that “laughter is the best medicine.” And really, if you can drum up some self-deprecating  humor and laugh with others, you will lighten your load and lighten up!

Appropriate laughter and humor are beautiful ways to connect to others. They help release the feeling of stress that adversity causes you.

Laughter is also good for your body – it changes your body’s response to stress.

Conclusion

Can we strengthen our capacity to think and act more “resiliently”?

Absolutely, yes.

Think how a trainer at the gym helps you concentrate on certain muscle groups for strength and endurance. Similarly the various components of resilience can be exercised and strengthened.

Check the work of Dr. Fred Luthans. It points to evidence that resilience can be learned.

Another helpful article from Harvard Business Review – How Resilience Works 

Have a great month!

 

 

 

Photo by Steve Harris on Unsplash

Amazing Ways We Fool Ourselves

Historically, April 1st should be the most light-hearted day of the year.

If ever we needed a splash of levity in our sea of seriousness, it’s now.

It’s a day of hoaxes, pranks, and practical jokes with people we love. The best part is nobody gets offended, at least they’re not supposed to. If the recipient responds with cursing or tears, you know things have gone too far.

It’s a chance for self-deprecating humor. It acknowledges that there’s a certain amount of folly that resides in each of us.

Back on April 1st,1976, the BBC nailed it. British astronomer Patrick Moore announced on BBC Radio 2 that at 9:47 AM, a once-in-a-lifetime astronomical event was going to occur. Listeners could experience this in their very own homes.

Due to this unique alignment of planets, the earth’s gravity would be reduced by a certain level. Whoever jumped with all their might at just the right time could possibly float in the air! People worldwide who hadn’t noticed the date were jumping up and down, hoping that they could achieve levitation. Other classics are the penguins of King George Island taking flight and the great spaghetti harvest.

Special day aside, there some amazing ways we fool ourselves year-round. Sometimes this comes with tragic consequences. It’s become more evident and rampant over this past year. That’s what I’m writing about this month.

Nobel prize-winning economist and social psychologist Daniel Kahneman states that we have two thinking systems. One thinking system is “fast” and the other, “slow.”

Fast thinking is the area where we can often fool ourselves.

We apply mental shortcuts, “hacks,” or biases when problem-solving or deciding things. It’s the realm of gut instincts, snap judgments, and hardwired systemic flaws in our thinking.

Slow thinking is a more deliberate examination of thoughts and motives.

We need both systems.

Biases are those deeply ingrained codes in our caveman software that can’t be quickly unlearned.

They have a profound impact on the following:

  • Our Perception – how we see people and perceive reality.
  • Our Attitude – how we react towards certain people.
  • Our Beliefs – how we interpret and respond to events
  • Our Behaviours – how receptive/friendly we are towards certain people.
  • Our Attention – which aspects of a person we pay most attention to.
  • Our Listening Skills – how much we actively listen to what certain people say.

It’s helpful to think of them as optical illusions. You know- things that appear to be there but really aren’t. Or that photo distortion app that makes for a very unflattering selfie.

Here are just five of the biases I’ve run into recently.

Negativity Bias (Good Plus Bad=Bad)

We want to think we’re rational, well-adjusted human beings, but our brains are naturally hardwired toward the negative.

Have you ever found yourself over-thinking a mistake you made a while ago? Are you replaying in your head a conversation that didn’t go so well?

That’s the negativity bias at play: not only do we register negative stimuli more readily, but we also tend to dwell on these events for longer.

A Queen’s University research study estimates the average person has about 6,200 thoughts per day. Other studies indicate that a high percentage (67%- 80%) are negative, and up to 95% are exactly the same repetitive thoughts as the day before.

So…if 80% of our thoughts are negative and 95% of them are repetitive, we have a serious “built-in” flawed perception problem.

Quite simply, negative events have a more significant impact on our mental state than positive ones.

Kahneman suggests an end-of-day exercise where we intentionally reflect on at least three good things that happened that day to bring positive counterbalance to our natural tendencies.

While the negativity bias may have been a helpful survival mechanism for our ancestors, today, it has a powerful—and often unconscious—impact on how we behave, think, and make decisions.

Groupthink Bias

Groupthink is a genuine phenomenon that happens when a group of well-meaning people makes dumb decisions to identify or belong to a particular group.

Another term for this is conformity bias.

In this scenario, any kind of dissent is unwelcome. Any reasoned questioning automatically makes one a social leper.

This bias is often fueled by a particular agenda—plus the fact that group members value harmony and coherence above critical thinking.

This bias causes people to simply “follow the herd” rather than thinking things through and using their own independent ethical judgment.

History is riddled with tragic examples of groupthink. The mass suicide known as the  Jonestown Massacre is just one of them. Hence the dark meme “Don’t drink the Kool-Aid.”

Confirmation Bias

Confirmation bias is the strong tendency of people to seek out information that exclusively supports views they already hold.  Evidence and information get interpreted in ways that affirm their pre-existing beliefs, expectations, and hypotheses.

Any contradicting evidence or information that may lead to a different conclusion is ignored.

A humorous illustration of this is the Texas Sharpshooter fallacy, where the cowboy unloads his pistol at the fence and then paints a bullseye around the closest cluster. He wants to believe he’s a good shot and manufactures proof to support that notion.

A close cousin to this is the Belief bias. If I believe something strongly enough, it must be true.

The question to be asked. Is this really true? Or do I just want it to be?

This thought pattern can easily lead to conclusions that are inaccurate or even unethical.

 

Diffusion of Responsibility Bias

Diffusion of responsibility occurs when a leader needs to decide but then waits for someone else to act instead. It becomes a ripple effect. The greater the number of people that are aware or involved, the more likely it is that each person will do nothing, believing someone else from the group will probably respond.

Psychologists John Darley and Bibb Latané set up a Bystander Apathy experiment where a distress call made it appear that a person nearby had suffered an injury. When subjects heard the cry, and though they were the only ones who heard it, 85% of them helped.  But if subjects thought there was another person who heard the call too, only 62% helped. And if subjects thought that four other people also listened to the cry for help, just 31% took action.

Diffusion of responsibility makes us feel less pressure to act because we believe, correctly or incorrectly, that someone else will do it. When we don’t feel responsible for a situation, we feel less guilty when we do nothing to help.

In this way, diffusion of responsibility keeps us from paying attention to doing the right thing or ignoring our own conscience.

It’s complicated, but there is hope. Here’s a TEDx explainer.

Self-Serving Bias

The self-serving bias is where we seek out information and use it in ways that advance personal self-interest. We often unconsciously make selfish decisions other people might view as questionable.

It can also take the form of a person taking credit for positive events or outcomes, but blaming outside factors for negative events.

The irony is that we can easily spot this trait in others, but we have difficulty seeing it in ourselves.

An example might be doctors who believe that they are immune from the influence of gifts they receive from pharmaceutical companies. Studies show those gifts have a significant effect on what medications doctors prescribe. One study found that 64% of doctors believed that the freebies they received from suppliers influenced other doctors. However, only 16% of doctors thought it affected their own actions.

So, the self-serving bias often blinds us to how we are prejudice in favor of ourselves. Indeed, it can cause even the most well-intentioned of us to overlook our own wrong actions completely.

To summarize, these five biases are just a small random sampling. The good news is that when we encounter them, we can switch to “think slow “ mode and ask some questions.

Here are some helpful questions the I borrowed from Annie Duke’s book THINKING IN BETS

  • Why might my belief not be true?
  • What other evidence might be out there bearing on my belief?
  • Are there similar areas I can look toward to gauge whether similar beliefs to mine are true?
  • What sources of information could I have missed or minimized on the way to reaching my belief?
  • What are the reasons someone else could have a different belief, what’s their support, and why might they be right instead of me?
  • What other perspectives are there as to why things turned out the way they did?

Hope this helps,

Until next time,

 

Lorne

 

 

 

 


Degrees of Truth, Grasping For Reality,

and Why That Concept Still Matters

I love this fight scene from Monty Python & the Holy Grail.

The fictional Black Knight valiantly denies King Arthur from crossing his bridge and loses all of his limbs in the process.

“Tis but a scratch!” – Black Knight

“A scratch? your arm’s off!” – King Arthur.

“No, it isn’t!” – Black Knight,

Well, what’s that then?” – King Arthur

(Black Knight looks down at his detached arm and pauses)

“I’ve had worse.”  

As the battle ensues, the Black Knight is reduced to a trash-talking torso

hollering “I’m invincible” and “Come back here. I’ll bite your legs off!”  

After all, he’s a Black Knight, and everyone knows that Black Knights are totally invincible.

“Life imitates Art far more than Art imitates Life”.- Oscar Wilde

Take away: Coming to terms with the truth of the situation can sometimes be a painful experience.

It’s said that John Cleese wrote this scene because he hated the saying, “You never really lose until you give up.”

The deadly assault on the Capitol by a bizarre coalition of self-proclaimed

neo-Nazis, white supremacists, camouflaged preppers, Christians, and Viking

wannabe’s, has got to be one of the great head-scratchers of our time.

If you’re anything like me. me you’re wondering, “why are things so haywire?” and “where’s the truth in this situation?”

Everyone wants to believe they’re thinking independently, understanding how things work and why things are happening.

But everyone has only seen the world through the narrow lens of their own experiences and their social network.

There’s a strong force in our human nature that propels us toward interpreting reality in a self-serving and unrealistic way.

There’s an equally strong force that pulls us to conformity.

Demagogues have always understood and exploited this human flaw.

Throw in a compelling storyline that may or may not be true, and suddenly

typically smart people are embracing and defending ideas that range from

goofy to disastrous.

It shows up all over the place.

The same story, again and again.

The best leaders can grasp the reality of situations and take appropriate action for themselves and others. The best leaders also resist self-serving behaviors and mindless conformity.

I really admire that.

To make sure I’m still on track, I revisited my assumptions and framework on the various truth types and how we’re governed by them.

OVERRIDING TRUTHS

“Gravity’s not just a good idea; it’s the law.” Seth Godin

This is one of those absolute, axiomatic truths that just “is.” It doesn’t matter whether you believe it or not.

Gravity is the truth that keeps you from spinning off into outer space. You can ignore it, but there’ll be a price to pay.

You can pretend it isn’t true. That also comes at a steep cost.

The same goes for the seasons of the year, death, and taxes.

Takeaway: The same way gravity keeps you grounded, there’s always an

absolute truth that overrides everything else in any given situation.

WORLDVIEW TRUTHS

(Also referred to as personal or experiential truth)  

We all have a worldview, whether we know it or not. It’s the set of our beliefs and assumptions that serve as our personal operating system.

Most kinds of truth we experience are about the past and the present. These are the easiest to see and confirm, but there are also truths about cause and effect. I.e., stove element- hot! Ice cream – yummy! Etc.

“The only source of knowledge is experience.” Albert Einstein

We all experience things at our own pace and time. Personal experience truth is the truth that’s mostly determined by you.

How you react and respond can only be seen and reported by you.
It’s how most of us interact with truth most of the time.

As we live out a truth based on experience either through direct or indirect participation

“Good decisions come from experience, and experience comes from bad decisions.Rita Mae Brown

Take-away: Your worldview is essential, but it can also change as you learn,

change and grow through experience.

MISCELLANEOUS TRUTHS  

Beyond the types mentioned above, there are many perspectives on veracity that fall along a continuum of sorts.

In the strictest sense, truth is provable, objective, and not “opinion.”

“Likely truths.In the sciences, these are called theories. A theory isn’t always right. Instead, it invites skepticism, opinion, debate, and rigorous testing.

A “half-truth” is a deceptive statement that includes some element of truth. The information might be partly accurate but intended to evade, misdirect or lay blame.

“Truthiness,” coined by Stephen Colbert, is a belief or assertion that a particular

statement is true based on the intuition or perceptions of some individual or

individuals, without regard to evidence, logic, intellectual examination, or

facts.

Truthiness can range from ignorant assertions of falsehoods to deliberate

duplicity or propaganda intended to sway opinions.

Outright BS – (Not the Bachelor of Science ) Well, that’s self-explanatory.

Take away – The more you know yourself and align yourself with facts and reality, the better off you are.

In Summary 

Centuries ago, a famous religious leader declared “the truth shall set you free!”. 

This phrase’s original context and intent refer to spiritual freedom from the bondage of our mortal sins.

“The truth shall set you free” has become part of our common English lexicon.

It is one of those axiomatic truths that has a liberating effect

wherever applied.

This works in business, in relationships, and yes, even in politics.

Yours Truly,

Until next time,

Lorne

The Surprising New Role For Humility in Leadership

 

“If virtues were animals, humility would be the Saola”

In the mountainous rainforest of Vietnam and Laos lives the Saola.

Sometimes called the “Asian Unicorn”, it’s one of the rarest animals in the world. This forest-dwelling species was discovered in 1992 based on finding three skulls with unusual, long, straight horns.

Researchers searched for 20 years but never saw the animal in the wild. It was only after a motion-sensitive camera captured its image on film that scientists caught a glimpse of one alive in nature.

Little is known about the enigmatic Saola (pronounced sow-la) in the two and a half decades since its discovery. None exist in captivity and this rarely-seen mammal is already critically endangered. Scientists have categorically documented Saola in the wild on only four occasions to date.

Humility Like the Saola is rarely found in nature—and nearly impossible to catch by searching for it directly.

In their 2017 book, Humility is the New Smart! Rethinking Human Excellence, authors Edward Hess and Katharine Ludwig work the premise that we are on the threshold of a Smart Machine Age (SMA) led by artificial intelligence.

This change will be as transformative for us as the Industrial Revolution was for our ancestors. The insurgence of Artificial Intelligence will take over many jobs and functions that people now do.

There’s no doubt that AI is already helping/disrupting/raising hard questions in challenging new ways.

Artificial Intelligence now helps us make appointments, drive, gather food, diagnose illnesses and maybe even helps with some other popular human activities.

I sometimes wonder if Siri and Alexa hang out together. If so, what do they talk about? Bixby? Cortana? You? Me?

In the face of all of this Artificial Intelligence uncertainty, Hess and Ludwig offer the following game plan:

We humans need to excel at critical, creative, and innovative thinking and at genuinely engaging with others—things machines can’t do well. We need to reframe our perceptions and assumptions of what constitutes intelligence and begin concentrating on the development of our soft skills.

They even coined the phrase for this: “NewSmart”.

The NewSmart creators go on to offer up a chart to show what it should look like.

 

Old smart NewSmart
I know I’m good at not knowing
I tell I ask
Defend my views Improve my views
Seek confirmation Seek truth
Close mind Open mind
Insecure if beliefs are challenged Insecure if beliefs are NOT challenged
Mistakes are bad Mistakes are learning opportunities
Perfectionism Learning

The crucial underlying mindset for NewSmart is… (tabletop drumroll please) Humility!

“Humility is the solid foundation of all virtues.” Confucius

In 2001, researcher and business writer Jim Collins introduced the concept of Level 5 Leadership as an effective style of Leadership that blends humility with competence and grit.

Ever since then I’ve been both a fan and an ever-learning student of this concept. That’s why the perspective in this book about Humble=Smart piqued my interest.

Back then, Collins’ research had already shown that leadership rooted in humility
could unleash tremendous scale-able results.

Like its close cousin authenticity, humility is that elusive trait at the epicenter of so many good things for leaders, individuals and entire enterprises.

Here’s the thing.

One unfortunate expectation of our modern age is that everything needs some kind of hack.
There’s unrelenting pressure to save time and optimize.

The other wild card factor is human nature. We relentlessly resist voluntary change until the cost of not changing becomes too great. I can’t see people waking up one day and saying. Uh-oh. AI is threatening my job so I better get humble. It just doesn’t work that way.

Sorry, Lifehacker. I don’t think humility is hackable.

What I can offer from decades of lived experience is that humility, like the Saola, needs a supportive ecosystem and a mindset of fierce resolve in order to survive.

It’s a quality that is earned in the journey of life. The journey includes hard knocks, kicks in the pants, failures, disappointments, and loss. There’s no one size fits all formula.

“Humility is not thinking less of yourself but thinking of yourself less”. C.S Lewis

In 2016, New York Times writer and author David Brooks released a thought-provoking book called “The Road to Character.” This is an account of Brooks’s effort to find his way out of shallow punditry—or, as he puts it, to “cultivate character.”

He too espouses humility as the prime ingredient in the bumpy path.

Towards the end, he summarizes what he calls a “ Humility Code”

Any one of this 15 point summary could be the subject of an entire blog post. Here are some of my favs from David Brooks.

The road to character begins with an accurate understanding of our nature and recognizing we are flawed creatures. We have a tendency to be self-centered and overconfident. However, we are not the center of the universe.

It doesn’t matter whether we work for a hedge fund or charity; there are heroes and schmucks in both worlds. The most important thing is our willingness to engage in the struggle for virtue. After attending to the basic necessities of living, this is our central purpose.

Pride blinds us to our weaknesses and makes us think we are better than we are. Pride drives us to prove that we are better than others and makes it hard to be vulnerable before those whose love we need.

Life for all of us is “U” shaped. We advance, retreat and so on. The redemption always comes in the form of “grace.” When admitting our failure, help comes in many different forms. When we recognize that you and I are unconditionally accepted and we accept what is, the path forward and accompanying gratitude usually arrives.

“When pride comes, disgrace follows, but with humility comes wisdom”. Proverb of Solomon

Another macro viewfinder that informs this whole topic is Robert Greenleaf’s  Servant Leadership. His Ten Principles have formed the basis of some remarkable 21st-century enterprises including Home Depot, Southwest Airlines, and the Marriott Hotel chain.

Back to our question. Is humility really the new smart way to combat and mitigate the encroachment of the Smart Machine Age?

Maybe. Depends.

It can’t hurt to give it a try.

Until next time,

Lorne

 

On “Banes and Biases”. Fears large and small that hold us back

First the Banes

Once upon a time, there was a king of great fortune and power.

He ruled his empire with tyrannical zeal.

History has it that he wasn’t particularly gifted in either administration or military prowess. He made a futile attempt at rebranding himself as a “philosopher-king”. He even hired Plato as an executive coach for a while. Like most tyrants, he wasn’t very coachable, so that whole thing didn’t pan out.

One day one of his pandering courtiers commented. “Gee. It must be really cool being King with all that luxury and power and stuff!”

His reply: “Oh yeah? You just try it and see if you can last a whole day!”

Note to reader: I’m paraphrasing liberally. 

So arrangements were made for this up-sucker to be King for a day. Unbeknown to him, the King arranged to have a heavy sword suspended directly over the throne by a single hair from a horse’s tail. He wanted to convey the imminent and ever-present threat of fear and peril faced by those in positions of great power.

Of course, when the dude became aware of the hanging sword, he started pleading with the King to get out of the deal. He departed in shame and disgrace.

This anecdote, known as “Sword of Damocles” originated in the court of Dionysius II of Syracuse around the 4th Century BC. This story has survived 25 centuries and surfaces frequently in popular culture, including novels, feature films, television series, video games, and music.

It’s one of the better examples of a “bane”.

Bane -A cause of harm, ruin, or death or thing or situation which causes a prolonged state of impending doom or misfortune. IE Superman and kryptonite, Green Lantern and Sinestro, etc.

A bane has a fear-enhancing, debilitating, and paralyzing effect.

Example 1 
As a kid in the days of the cold war nuclear threat, I remember drills at school where we’d have to curl up tightly under our desks whenever the siren wailed. It occurred to me that if I was to be vaporized by a Russian nuke, I’d at least like the dignity of being seated upright. My friend, weird Freddy, reasoned that the “curl-up-tight” instruction was so that we could kiss our collective rear ends good-bye. He may have been right

To this day, when I hear that certain siren noise, my heart rate goes for sprint and I’m instinctively looking around for a desk to crawl under.

Example 2
In an address before the General Assembly of the United Nations on September 25, 1961, JFK said:

Today, every inhabitant of this planet must contemplate the day when this planet may no longer be habitable. Every man, woman, and child lives under a nuclear sword of Damocles, hanging by the slenderest of threads, capable of being cut at any moment by accident, or miscalculation, or by madness. The weapons of war must be abolished before they abolish us.”
– John F. Kennedy 

Eventually, Kennedy’s message took hold. The threat of mutually assured mass destruction via a superpower grudge match subsided. Corrective steps were taken through detente and nuclear nonproliferation agreements.

Example 3
It wasn’t that long ago we were all about to be fried to a crisp by that massive hole in the ozone layer caused by aerosol overuse and bovine methane emissions. That was about the same time the world was about to be thrown into complete mayhem by the Y2K bug.

These days, the new “bane of our existence” is more about rapid global warming, being awash in a sea of our own garbage and the specter of rogue AI.

It’s worth noting that the true fear factor of the sword and the siren represent possible harm.

“We are more often frightened than hurt, and we suffer more from imagination than reality.
— Seneca

Nothing close to the extreme outcomes that were portrayed actually happened. The mere prospect raises primal fears.

Politicians, news outlets, home alarm salesmen and others understand this well. All too often this foible of human nature gets exploited by playing to our deepest fears.

There are times when the danger is very clear and present. In these instances, swift appropriate action needs to be taken.

If it’s something that only appears to be potentially dangerous, that’s a different story.

The key here is to distinguish between what’s “possible” and what’s “probable”.

Many scary things are possible. Most of them aren’t probable.

Now on to the Biases 

These are much more common garden variety type fears.

“Bias” is a geometry term referring to a slanted line. These days it’s better known as a reference to a slanted viewpoint based on emotions
or misplaced beliefs that misinform our decisions and actions.

Fear defeats more people than any other one thing in the world.”
— Ralph Waldo Emerson

My crack at the explanation:

Because we’re inundated with tens of thousand bits of data and we can only process about 40 concepts at a time, our brain goes into “hack mode” and automatically starts spitting out answers from our caveman software memory bank.

•           We all have firmly held beliefs that aren’t necessarily factual
•           We all don’t know everything.
•           Therefore, some of those beliefs are incomplete, misguided, or wrong.

This applies to everyone, including me. Admitting I’m wrong about something I firmly believe means admitting I haven’t fully thought things through. Herein lies the ultimate stuck-ness.
Fully aware that I’m wrong about something, but unable to admit being wrong about anything. Huh!

Biases cause great ideas to get stymied, resolve to evaporate and produce unreasonable anxiety over one’s capabilities.

Our friends at Wikipedia have listed approximately 200 plus biases.  Workwise, I run into some of these all the time. The Ostrich bias and Information bias come up a lot.

Most of these biases adversely affect belief formation, business and economic decisions, and human behavior in general.

The  “Knowing-Doing Gap” was one of the first leadership books that explained at a granular level how individual and group biases actually prevail in preventing knowledge to be turned into action.

Sometimes it’s a bias for the plain old status quo can derail ideas and thwart progress.
Does “but we’ve never done it that way before” sound familiar?
Ok if the status quo is working well. Not ok if it’s not.

Admittedly, I have a few personal biases that may not be listed anywhere that I believe are useful.

For example, I have a firm bias against standing in a long line up for coffee at you know where. (starts with S)
It’s my Life’s- just- plain- too short- to -stand in line bias.

Another useful one is my Anti – BS bias.

I can usually dial my BS detector down around teachers, nurses, farmers and pilots because their personal incentive to deceive is near zero.
Then again, there are otherwise good, honest people who spout nonsense and promote wild ideas based on beliefs that are shaped by the power of fears, paychecks or social status.

In conclusion, – banes and biases. We all have them. Once you know exactly what they are, you can name them, face them and develop some workaround strategies that move you forward.

Until next time.

Lorne

Got any cool or unusual biases you care to share? 

Shoot me a note or leave a comment. I’d love to hear about it.

If you’re enjoying this monthly article and the Winning Habits Challenge, feel free to forward it to a friend.

You might just win a referral Taco on me. It’s been known to happen.

What Does Success Look Like For You ? How Do You Know When You Get There?
, , , , , , ,

Like You, I Wonder About “Success”.  How Do You Know When You Arrive?

Are there “stages of? ….building blocks for?….  formulas or recipes?

It’s a big topic so let’s get it popping.

True story:

I recently ran into a business friend from many years ago.

We’d known each other when we were both grinding it out through a dismal time in the construction industry.

We’d agreed to catch up over a Starbucks. Now here we were.

Phil is a burly guy with a kind of brusque manner and voice that is permanently set on “outdoor” volume.

After some opening banter, he pauses and then declares (outside voice).

“I googled you man. You’re a freaking 40-year overnight success!”

The conversations around us fell silent. I could feel multiple laser stares aimed right at me.

His spontaneous outburst and the absurd hilarity of it all caught me off guard. Something welled up and I bust out laughing and couldn’t stop.

He joined in full volume, enjoying the dramatic effects of his own comedic delivery. When our moment of mirth subsided, the surrounding conversations came back to the normal Starbucks level.

As with any honest humor, it’s usually wrapped around a nugget of truth. This was no different.

Examples of “success” in any field if examined, come after a ton of hard work, sacrifices made and obstacles overcome over extended periods of time.

“Success is walking from failure to failure with no loss of enthusiasm.”    -Winston Churchill

When you talk “success” and how you actually define or quantify it, the definition tends to vary.

A quick G search of the word renders 210 million hits in .64 seconds so it’s obviously top of mind for lots of people.

For some folks, it’s about money.  Ok, probably for most folks that’s the measuring stick for comparison.

For others, it might be house size or being able to travel to faraway places. For others, it’s about a relationship to their family; for some it’s faith, and for many, it’s honestly just staying alive another month. The definition of the term will change relative to where you’re at in life, probably dozens of times.

The part I love most about my work is helping clients figure out what success looks like for them. Then we start navigating obstacles, achieving more or getting better at something – a.k.a. becoming “successful.”

Because most of us spend on average 1/3 of our life (about half of our waking hours) pursuing a livelihood to make ends meet, it’s important to have some sort of scaffolding or contextual framework around how to think about this concept.

From observation and experience, there are some underlying factors to success in any realm.

Wealth is definitely an easily understood way of keeping score, but if that‘s the only way then look out!

Ok – back to the point.

 

Because the wealth/success thing has such an overshadowing effect,  I’ll get it out of the way in this months’ post.

We’ll deal with the other success factors in future posts.

“Try not to become a man of success. Rather become a man of value.”  ― Albert Einstein 

A Remarkable Essay

I love it when someone else writes a brilliant article around something I’ve been thinking. Moreover, they absolutely nail it.

In this instance, kudos to American venture capitalist Morgan Housel who has provided a remarkable essay ranking every type of wealth and poverty.

It’s equal parts enlightening, entertaining, surprising and useful for perspective.

Stage one of 19 on the wealth spectrum begins where you would expect – complete dependence on others for sustenance – but quickly jumps to people who have money and assets but are impoverished in other ways.

Stage four is a cautionary tale, “Your lifestyle expectations consistently grow faster than your income and assets. Adaptive poverty.” Stage seven is too: “Your entire personality is built upon the appearance of being wealthy, attracting a predatory social group that will abandon you.”

The stages of wealth start looking attractive around number 13, where you love your job enough that it feels like a hobby and pays more than you ever expected.

I’ll let you go on to discover the highest stage of wealth – the psychological equivalent of the Forbes billionaires list.

If we command our wealth, we shall be rich and free; if our wealth commands us, we are poor indeed.  –Edmund Burke  

 

The overriding revelation in the piece is that wealth is often as much a matter of perspective as it is a sum of money.

Folks who are deeply envious and generally insecure are unlikely to feel wealthy no matter how big their investment account becomes.

Those with close family ties and social connections can feel content with far less.

Another poignant revelation of this innovative list is that we often fail to recognize the wealth of all types that we already have.

Here Are The 19 Stages Of Wealth

  1. Complete reliance on the kindness of strangers for sustenance. Deep poverty.
  2. Your income is above average but you are overcome with envy and a feeling of inadequacy towards those who earn more. Psychological deep poverty.
  3. You have a large income and net worth that was acquired in a way that brings active disdain from people who would otherwise want to like you. Socially bankrupt.
  4. Your lifestyle expectations consistently grow faster than your income and assets. Adaptive poverty.
  5. You have so much money you can do nothing, and doing nothing leads to boredom at best, self-destruction more often. Ironic poverty.
  6. You have a large income and net worth you are satisfied with, but your career and assets are fragile (often leveraged) and will disappear when the world shifts only a little leaving you yearning for the money you used to have and became accustomed to. Pent-up poverty.
  7. Your entire personality is built upon the appearance of being wealthy, attracting a predatory social group that will abandon you without remorse the moment the money stops.
  8. You have a large income and net worth that was made in a job you hate that requires such long hours that it derails your social and family life. Financial wealth, life poverty.
  9. You have a job you love surrounded by people you enjoy but one that doesn’t pay well and leaves you vulnerable and stressed about your finances. Financial poverty, life wealth.
  10. You have enough money to stay comfortable and a good group of friends but you didn’t earn the money yourself, creating a lack of pride and ability to appreciate the value of a dollar that makes you feel poorer than someone with less money that was earned from hard, meaningful work.
  11. You can afford a little bit more than the people you interact with daily and it makes you feel superior to them. Technical wealth but actually insecurity that’s likely to backfire into social poverty.
  12. You can afford a little more than the people you interact with daily but you still live the same material lifestyle as they do, which creates social cohesion among your friends that’s valuable. You have a high savings rate that puts a gap between your mood and most financial hassle.
  13. You like your job so much it doesn’t feel like work and it pays more than you ever expected to make.
  14. You could stop earning a paycheck tomorrow and your lifestyle could remain the same for the indefinite future.
  15. You can go to bed and wake up when you want to. You have time to exercise, eat well, learn, think slowly, and clear your calendar when you want it to be clear. Health wealth.
  16. You can, and want to, use your wealth to help other people. And you want to help them because you care about them, not because it will make you look good or make them beholden to you.
  17. You genuinely feel no benefit from the social signal of wealth, because everyone you want to love you would still love you if you weren’t wealthy. So everything you spend money on is for its utility, rather than glitz.
  18. The people you love the most will have to work hard in life, but your wealth provides them a safety net that will help them avoid undue hardship.
  19. You are respected and admired by people you want to respect and admire you regardless of your financial circumstances. Psychologically speaking, you’re now on the Forbes list of billionaires.

“I’m a success today because I had a friend who believed in me and I didn’t have the heart to let him down.” ― Abraham Lincoln

Phil’s perception of my alleged success was that somehow I had “arrived”.

My read on the same scenario was that I was merely “staying on track and keeping going.”

Huh! Guess that’s the kind of stuff that makes life interesting.

Like Abe,  I had some friends who believed in me. I didn’t want to let them down.

Until next time!

Note to Reader:  This “Success” article will probably wind up being one of a three-part series into 2020, so stay tuned.