We've all heard the old adage, "knowledge is power." However, while knowledge is power in some situations, in others, it only becomes powerful once it is applied. For example, if you want to get in shape, knowing how to diet and exercise is not enough—you actually have to put that knowledge into practice.
In the financial sector, mental strength is also key. Just like physical fitness, mental toughness can be developed and strengthened with training. And like physical fitness, there are different exercises that can help build mental strength.
Exercises for Building Mental Strength
The financial and insurance sectors are brutal environments. They are high-pressure and often very stressful places to work. To be successful in these industries, you need to have mental strength. Here are four exercises that can help build mental strength:
1. Get Comfortable With Being Uncomfortable
One of the best ways to become mentally strong is to challenge yourself on a regular basis. This could mean taking on a new project at work, signing up for a race, or simply trying something -anything - new.
The goal here is to step outside your comfort zone and push yourself to grow. When you do this, you'll find that you develop a greater sense of resilience and are better able to cope with stress.
2. Mindfulness is Good for More Than Just Relaxation
Even though we shouldn't, financial professionals overlook the importance of mindfulness. We live in a fast-paced, constantly-connected world, and it can be difficult to slow down and be present in the moment.
Mindfulness has been shown to improve focus, concentration, and decision-making. It can also help reduce stress and anxiety. If you want to be mentally strong, start practicing mindfulness on a daily basis.
3. Develop a Growth Mindset
People with a growth mindset believe that their abilities and intelligence can be developed. This is in contrast to a fixed mindset, which holds that these things are static and cannot be changed.
Growing doesn't come easy. It requires effort, persistence, and failure. But if you want to be mentally strong, it's important that you adopt a growth mindset.
4. Recognize You Don't Know Everything
And, you don't need to know everything. One of the biggest traps financial professionals can fall into is thinking that they need to have all the answers. This can lead to decision paralysis and a fear of taking risks.
If you want to be mentally strong, it's important to recognize that you don't know everything and that it's okay to not have all the answers. What's important is that you're always learning and growing.
5. Be Willing to Walk Away
In the financial world, there is a lot of pressure to make deals happen. This can often lead to bad decisions being made in the heat of the moment. If you want to be mentally strong, you need to be willing to walk away from deals that aren't in your best interest.
Remember, it's okay to say no. You don't have to make every deal that comes your way. Be willing to walk away from the ones that aren't right for you.
Final Thoughts - Understand That Luck Doesn't Just Happen
Most people think of luck as something that just happens to them. But the truth is, luck is a matter of mindset. A famous experiment asked volunteers to rate themselves as "lucky" or "unlucky" and then gave them a newspaper and asked them to count pictures. Volunteers didn't know that researchers had hidden a 2nd message in the ad, which said "stop counting."
Those who self-identified as lucky found the message quickly, while those who saw themselves as unlucky didn't. The takeaway? Your mindset matters when it comes to luck. It is not a mystical force. It is what happens when opportunity and preparation meet. Lucky people are prepared to spot and act on opportunities.
Are you ready to increase your opportunity-spotting prowess? Contact us today!