Hurry Sickness is infecting the majority of investors, managers and those in the financial sector, and here's how to avoid it.
Money and stress don’t sit far away at all. It’s undeniable that investing assets can cause serious moments of worry, anxiety, frustration – after all, these assets are a product of our labour, time and effort. However, allowing the stress, pressures and worry to manifest deeper beyond the situation causes an obstructive, hindering and demolishing disease to your success. That disease is – ‘Hurry Sickness.’
In terms of industries, research shows that ‘Hurry Sickness’ is most rife in the financial sector, and more specifically – investors. Described as “continual rushing and anxiousness; an overwhelming and continual sense of urgency.” by cognitive psychologist ‘Philip Zimbardo’ (PhD) – the condition is one which sounds natural to investors.
Hurry Sickness is known to cause people to rush thinking, actions and decisions with a bout of subtle anxiety which keeps causing the individual to be stuck in those irrational, pressurised actions and decisions. Hurry Sickness has also been proven to hinder one’s ability to notice patterns and problem-solving – one of the most common symptoms among investors. If this sounds too close to home, don’t worry. Almost every successful investor has encountered this – what makes them successful is their ability to overcome it.
Researchers at the University of Texas tested two groups’ ability to detect patterns and orders of logic. One group was subject to highly pressurised, stress-inducing activities with the other remaining calm. The research showed that whilst the hurried group were able to detect patterns, all participants had inconsistencies in their detection with an alarming rate of falsely interpreted results. When these findings are applied to our own situations, the results are clear.
The reason that so many have failed to notice Hurry Sickness is due to the commonality of it. It’s become widely accepted as a normal way of managing work – with over 95% of managers being found to have the condition (London Business School). It’s not easy to gain a clear mindset overnight, no matter how many guru’s say so. There are ways however, that you can start to notice these patterns occurring and know how to break from these habits.
Here are our suggestions:
Locate the Source.
A lot of the time, we feel pressured by both social/political circumstances and individuals. If you’re pursuing an investment that you’re having mixed feelings towards – ask yourself whether it is right for you in this time or moment, and whether it is benefitting someone or an event much more than it is to you.
Know When to Take Breaks.
Heard 10 million times before, yet we’re going to repeat it for the back row. With remote working at the highest it’s ever been, it gives us opportunities to use our time to our own accord. Knowing when to take an hour during times of pressurised stress, frustration and anger are essential to investment success. Emotional problem solving results in emotional solutions, not logical ones. Allow yourself to step away from stressful situations and evaluate them in many a mood. Come to a fix when you know you’re ready – not when you feel pressured to.
Get Them Told!
If you’re feeling pressure from the people around you – be more assertive. If an agent is being extremely pushy and inundating, be assertive. If a client is constantly expecting the above and beyond and isn’t allowing you the time to do so – be more assertive. Gain control of your time and manage it the way you know you should be.
Conduct Plentiful, Independent Due Diligence as well as your agents or developers.
Due Diligence is never something which should be felt as a chore or a time-consuming activity. It is what will make or break your investment success. If you’re unable to fit in time, the investment is not right for you. It’s not to say you’re lazy, it’s to say that your schedule may not be suitable with the timeline of an investment opportunity – and that’s okay.
The Diligent Eye Approach.
Whilst this advice obviously acts as our marketing content, our entire brand is built on relieving stress and worry. By providing extremely cost-efficient Due Diligence reports across an array of existing and future investments, we ensure our visitors of an unbiased, no-commission (independent) platform. We’re the first of its kind, and our industry-backed interrogations are on their way.
Make Time For Mindfulness.
Once bound to a room with 30 strangers sat within, meditation and mindfulness is now the most accessible it’s ever been. With apps such as HeadSpace and Elevate coming in to play, users can take a 30 second breather whenever time permits. With countless studies proving the stress-relieving benefits which mindfulness assists in, there is a certainty that adding five minutes a day will assist in the frustrations and anxieties during investment processes.
We’ll soon be returning to a more familiar market structure, and it’s vital that our problematic investment habits don’t return. For more information email james@diligenteye.com .
