Step three of inner leadership tells us to look for the opportunities in any situation. It shows that any challenge contains three types of potential opportunity:
- To fix the situation
- To fix and improve the situation
- To resolve the situation, so that it does not arise again
An article in Forbes magazine shows us how this applies in the financial markets.
Traders who made losses were seen to respond with one of three strategies:
- “The first group kept trading after losing, often by increasing their risk-taking. They were clearly frustrated with their losses and driven to get the money back. They absolutely refused to quit.”
- The second group “was also frustrated … but … took breaks in their trading, calmed themselves down, and often stopped trading for the remainder of the day. Their goals was to regain emotional equilibrium and not let frustration drive their decision making.”
- The third group of traders “was also quite frustrated with losses, but … stayed at their desks… They doggedly tracked down the sources of their poor trading and did not stop in their analyses until they figured out where they had erred. Only then did they return to trading.”
It was the third group that, over time, proved to be the most successful.