Today, our Co-Founder Bobby Ward shares an exploration of positive psychology and why this is important when we are confronted with the challenge to weather the storm of the coronavirus.
Last week, Britain’s Chancellor Rishi Sunak announced that the government would extend its programme for an additional four months as the country exits lockdown. As we begin this journey towards the light at the end of the tunnel, we are looking into the eye of the storm of Covid induced economic uncertainty and its possible consequences.
However, with so much still unknown, the capacity to remain positive during times of crisis is crucial for a few reasons. It is crucial for our overall wellbeing and health as individuals. Yet, positivity is also important for businesses to stay alive – especially during times of economic uncertainty.
As we begin to navigate the reduction in lockdown measures, persistence, determination and positive thinking will get us through to the other side. However, it is worth noting that remaining positive doesn’t mean we have to be happy all the time. It is the knowledge that despite the hardships and uncertainty, better times are coming and there will be light at the end of the tunnel.
We explore the benefits of remaining positive and how they can help us both personally and professionally when it comes to business and economic growth.
We are better problem solvers:
Tapping into our capacity to think positively, we are in a better position to solve problems, as we seek out new solutions to problems, as opposed to focusing on the negative impact of the situation and criticism. Research by psychologist Barbara Fredrickson also denotes that positive thinking enables us to be more open minded, citing that, those who are able to have positive thoughts, also have a greater capacity to receive new information. Consequently, this enhances a person’s perspective and their capacity to ‘connect the dots’ between obstacles and solutions. Positive thinking is therefore crucial for business leaders who are overcoming obstacles in the face of Covid-19.
We seek new opportunities:
Being positive improves your capacity to be flexible. This is particularly important during times of crisis. Companies worldwide have had to be dynamic and even find new revenue streams to support their businesses. We have seen restaurants who have gone from table service to contactless delivery and offering virtual masterclass cooking classes via zoom. Fitness studios and gyms took their classes to the digital realm, charging a fee for a zoom link, as opposed to a studio experience. In order to weather the storm, companies have diversified their offering and along the way, have found new opportunities for revenue streams, that may even stand to continue once Covid-19 passes.
Gratitude and lessons learned:
Whilst crises are hard, there are many lessons to be learned. Covid-19 disrupted our economy, yet we have been given an opportunity rethink our values and how we grow as a society moving forward. Isolation has given us time to conjure up new ways of living and working, and in many ways, has accelerated some trends we were already heading towards, such as more remote working and flexible hours. Our future will be nothing like the past. Businesses and ideas can grow in new and unexpected ways. We have learned what our values are, so can push for more enterprise that prioritises economic growth that is more in line with that – such as sustainability and wellbeing.