Mark Hauser’s Number One Tip For Businesses During Turbulent Times

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Throughout our evolution, fear of the unknown and change has played a vital role in our survival as a species. Our ability to process information and assess perceived risks has allowed us to make rational decisions to protect ourselves. From wearing seatbelts to looking both ways before crossing the street, our instincts have helped us avoid potential dangers.

However, in today’s world, our fears extend beyond mere survival. The apprehension we feel when facing new and challenging endeavors can be just as paralyzing as the fear of a life-threatening situation. While assessing risks and taking preventive actions have propelled us forward evolutionarily, in our careers and companies this mindset can hinder rather than help us progress.

Today, researchers have given the term “cognitive biases” to these irrational responses to intangible fears, and according to private equity investor Mark Hauser the one he has seen leaders fall for most is known as “the ostrich effect.” A cognitive bias that leads us to avoid potentially unpleasant information, the ostrich effect can hinder our ability to make progress and take actionable steps towards our goals. Hauser, who has over three decades of experience building companies and leading teams, said that by “burying your heads in the sand,” you reject knowledge and miss opportunities for growth.

Avoiding information that may be uncomfortable or unsettling is a natural human tendency. However, by succumbing to the ostrich effect, you deny ourselves the opportunity to understand the full scope of your circumstances, said Mark Hauser. Instead, you must actively seek new information and remain aware of the situation at hand. This means staying informed about current events, industry trends, and potential challenges that may arise, even if they are scary to hear.

Remaining present and focused allows you to assess the situation realistically and make informed decisions. Rather than avoiding difficult information, you should confront it head-on and take proactive steps to address any challenges or risks. Hauser explains this may involve adapting our strategies, seeking guidance from experts, or exploring new opportunities, but by embracing reality and staying engaged you better position yourself to navigate uncertainties with resilience and determination.

Viewing challenging times as opportunities for growth is a powerful mindset. Instead of succumbing to the ostrich effect and retreating from difficult information, you can use it as fuel for personal and professional development. By actively seeking knowledge and maintaining awareness, you open ourselves up to more innovative solutions, said Hauser

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