A couple of years ago I founded the Business Coaching Helpdesk at Portobello Business Centre (PBC) to provide pro bono access to coaching support for founders who might not otherwise have that kind of access. PBC is a great social enterprise run by a great team and it's a privilege to work with them to support
such a large and diverse group of founders on their journey to building (and often bootstrapping) new businesses.
In some ways, this work couldn't be further away from the seemingly glamorous world of Silicon Valley* and the billions in venture capital funding which some of my private practice clients are looking to tap into. However, in other ways, the struggles and dilemmas which founders face are universal.
Even if you're not building a business, everyone faces risk as they look to do new things or find themselves presented with fresh challenges at work.
I love working
with clients seeking to do new things or to do something for the first time - in some ways, it is my specialism. However, in my experience, there's a key question which many people fail to ask when they consider taking on a new challenge at work. Not asking this question breaks more new businesses than a lack of cash** and scuppers more new roles and new initiatives than a lack of experience and resources.
Here's the question: "What's your emotional runway right now?"
Let me explain what I mean by that. Anyone who's been on a plane is reassured to know that their pilot has a good sense of how much runway they need in order to make a safe and succesful landing. In the world of startups, the amount of cash a business has left before it hits the skids is also known as
"runway" and a running awareness of that number is key to survival.***
But there's an even more precious and finite resource than money when it comes to your work and business and rightly estimating levels
of this resource makes all the difference to the clarity, quality and long term success of your decisions at work, especially when it comes to new things. That resource is your current store of emotional energy and resilience.
New things require a specific sort of energy both at their inception and as they develop - physical and mental energy but also emotional energy. That requirement is why it's worth considering your emotional resources any time you are presented with the opportunity to get involved in or start something new whether it's a new business, a new role, a new project, a new strategy or a new venture.
Emotional runway is a phrase I've come across recently and it encapsulates something that comes up with many of my clients, not just founders, as they consider whether to embark on something new.
However outwardly or emotionally repressed we appear, reams of neuroscience and psychological research, as well as millenia of human experience and observation, have proved time and time again what a big part emotions play in our key decisions.
Indeed, they play a far bigger part than most of us would like to admit. Ironically, when we don't acknowledge this, we lose vital clarity and objectivity and make worse decisions as a result.
So, if you - or
someone with whom you work - is facing a decision over whether to take on something new, perhaps ask yourself or them "What's your emotional runway right now?" You might show them or yourself this grid and ask, "How much runway before you tip over from the top left to the bottom left quadrant - from survival to overwhelm?" You might ask, "Might this new challenge or
role or venture require more emotional capital than I/ we have or are likely to have in the the near future?" or "Are there things that have been building at work or in my wider life which have shortened my emotional runway?"
An honest answer to the question might mean that you defer an opportunity or that you approach it in a different way or on a different timescale or that you put in place the right support. It might even mean choosing to say "No" to something else so you can say "Yes" to this. At the very least, asking the emotional runway question will give you more data as to how to approach the new opportunity and, as featured in a previous newsletter, emotions can be pretty good sources of data if you let them.
I'd be really keen to hear your thoughts on emotional runway. I've been so encouraged by your responses to the last few newsletters. Hearing from one "To be Clear..." reader about how the Leadership Team at their organisations recently got great value from doing a Done List together was great! Thank you for sharing that!
We're about to go into the first of many Bank Holiday weekends here in the UK but, whatever the coming days hold for you, wishing you a clearer week
ahead.