[NOTE: This is a two-part series. Part 1 addresses making important changes to your internal barometer during “recessionary” times. Part 2 focuses on the application of specific business strategies during a slower economy.]

5 Keys to Self-Management in Challenging Times

You and most everyone you know have likely been affected in some way by the current economic downturn. Perhaps you’ve lost savings, retirement or the some of the value of your house. Maybe you’ve been laid off, or you’re in relationship with someone who has. If you’re an entrepreneur, your marketing efforts might not be bearing as much fruit as they did in times past.

We are all feeling the difficult truth that there has been a downturn in the global economy. What’s more important, however, is how we internally manage the external data — the numbers, losses and gains. I’ve come up with 5 strategies for dealing with fear-based thoughts and their associated emotions. You can start right now using the one that looks the most interesting to you. The more of the keys you use, the more you’ll rewire your brain away from negativity and towards positivity, and lay the groundwork for finding opportunity in these difficult days.

1. Stop identifying with your role or your bank balance.

This is the most important key, and one that many people find the most difficult to comprehend. Be advised: The amount of suffering you’ll experience in challenging economic times is directly related to how much you’re identified with your income and job description.

Who you are is not your job or your title or the business you created. The amount of money you possess does not equal your self-worth. How can you discover this for yourself? Simply inquire into the truth.

One recommended method of inquiry would be to ask yourself the repeating question, “Who am I without my job?” then answer with whatever comes to mind. Really, whatever. This includes critical comments like, “I’m a loser!” or “Nobody!” Stay with this repeating inquiry for at least five minutes, or ten if you’re willing.

The goal of the process is to touch on who you are beneath whatever role you’re playing. This essential self may not be described in words, so if you start to uncover replies such as “I don’t know” or experience chunks of silence, you’re on the right track. Repeat the process with the question, “Who am I without money?” Extroverts may enjoy doing these processes with a partner; introverts may prefer going it alone, or with a journal.

Once you “get” that you are not your role or your possessions, you may forget from time to time (or in my case, hourly!). I’ve found the teachings of non-dual teachers like Gangaji and Adyashanti to be very helpful “aids to remembering.” Bear in mind that during tough times that critical voice can get particularly loud, and may require extra vigilance on your part.

2. Unplug from the “recession mentality.”

The media may spread panic, but you can choose not to participate. Same goes for spending time with those who embody the doom-and-gloom mentality. The secret to this key is uncovering and working with your beliefs. Some of these might include, “There’s never enough,” “The rich get richer,” “Wealth is for others, not me,” and many more.

Question your beliefs. Write them down and ask yourself, is this true? Work through them with a friend or a coach. I highly recommend the work of Byron Katie in this area. If you want to work specifically with money beliefs, check out Spencer Sherman’s Cure Money Madness workshops.

3. Reflect on the question, “What is it that I really want?”

“Recessions” are great opportunities to see if we are, in fact, living in alignment with our values. We might be cruising along, living easily and somewhat unconsciously, and then the economy shifts and speaks to us: “Wake up! Life is short! It’s time to change course!” Now is the perfect moment to take stock of your gifts and desires and see how they might be used to serve the world.

Take a sheet of paper and write out your top 5-10 values (as examples, some of mine include Authenticity, Abundance, Love, Sustainability, and Transformation), and then write out what each of those values means in real-life terms. (For me, the value of Abundance means the freedom to do what I want, to be generous with others, and to create community.) You can rank them, placing the most important values first. Next, give each value a number from 1-10 that indicates how fully you are living that value right now. Then ask: “How could I be, or what could I do, to bring my most important values closer to a 10?” Journal the answer, or talk to a friend or coach about it.

4. Good self-care leads to good self-management.

I recently attended a stimulating seminar entitled the “Neuroscience of Emotion.” The presenter talked about the role and significance of the prefrontal lobe of our brains. This is the part that handles executive decisions, processes our emotions, and coordinates communication between the various other parts (right and left hemispheres, higher functioning with mammalian brain, etc.). Maintaining health of the prefrontal lobe is essential to successfully managing life. The key factors are sleep, diet, exercise, meditation, sunshine, and, curiously, altruism!

Practically speaking, “covering the basics” above leads to a brain more capable of making good decisions and managing “fight or flight” responses from the more primitive brain areas. That means you’ll be better equipped to soothe yourself and manage your anxiety about the economy if you’re getting lots of rest, eating plenty of non-processed foods, sitting quietly for at least 20 minutes a day, spending time exercising and out-of-doors, and helping others. (It’s great to see science finally confirming what our mothers have been telling us all along!)

5. Appreciate what you have.

Yes, we’ve heard this before. I’ve recently been inspired by Robert A. Emmons’ book Thanks! How the New Science of Gratitude Can Make You Happier. Emmons’ research reveals that gratitude helps us create a higher income, superior work outcomes, longer marriages, more friends, stronger social supports, richer social interactions, more activities, more energy, better physical health, a stronger immune system, lower stress levels, and a longer life. Wow — Sign me up!

Try these ways of buffing up your Gratitude Muscle:

A. Every morning when you wake up, spend at least two minutes before getting out of bed repeating the statement, “I’m grateful for _________.” Fill in the blank, starting with the simplest, sensory-based items, such as: breath coming into my lungs; sunshine on the wall; the sound of my child’s voice. Do this aloud, if possible, even if you experience some self-consciousness.

B. Express appreciations aloud to friends, partners, or co-workers. While you’re spending time with someone, allow yourself to reflect on why you’re grateful for their presence in your life. Then tell them. Examples: “I’m inspired by how beautifully you dress every day.” “This was a delicious meal. Thank you so much for making it.” “I appreciate you for listening to my feelings without trying to fix me!” “Thanks for covering for me yesterday. I couldn’t have done it without you.”

C. Here’s one that may be a challenge: Write a letter to someone expressing your gratitude for them. If that was easy, deliver it in person. If that was no problem, and if they’re willing, then read it aloud to them.

If you don’t usually offer appreciations like this, it may feel strange and difficult at first. But do the best you can to stay with it. For more support and ideas about appreciations, read Lasting Love by Gay and Kathlyn Hendricks.

That’s a good start on the internal changes that I recommend. I’m curious if you have any of your own that you’d like to share. Please let me know what they are, and I’ll include them in a future version of this article. And stay tuned for Part 2 of this article, where I’ll outline practical, “recession-busting” business strategies.

© 2009 Jim Benson. All Rights Reserved. This article may be reproduced with permission from the author. jim@jimbenson.net

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