Beliefs are formed through repetition and emotional impact. During crisis, negative beliefs about the future are formed through the repetition of negative ideas from various media and associated emotional impact. Technically, they are: + Availability heuristic: The present information environment repeatedly projects a gloomy future and the ease with which we recall this information makes us to believe that our future will indeed be gloomy + Affect heuristic: Gloomy future causes fear and fear triggers a vicious cycle reinforcing the same belief Children in their formative years, first time job seekers / entrepreneurs are most vulnerable to the current crisis. We have a choice to flip this over. Small problems present small opportunities; big problems big opportunities; what we have now is a massive problem, meaning, massive opportunity. The action steps are: 1. Challenge your current planning assumptions 2. Look beyond your business horizon for new opportunities 3. Build new skills / capabilities. Remember opportunity cost before reducing your cost base. Ask yourself, "Would you be prepared to defend what you are doing now when the crisis is over?". Both faith and fear demands to believe in something that doesn't exist - the choice is always yours.
Faith or Fear
Updated: Jul 1, 2020