How to succeed in economic uncertainty

Alright, the past few months since Trump was elected have been…ahem, bumpy. 

You’ve been watching the news and tracking social media so I won’t recap a play-by-play of the threats to the economy (and democracy) right now. 

There’s a lot of uncertainty…we might go into a recession. We might not. 

And that uncertainty makes trying to strategically manage your career (and make any sort of decision or big move) hard, to say the least. 

But, not all hope is lost. 

I’ve had the dubious distinction of graduating in the height of the Great Recession and leading a company through the early days of Covid. 

I’ve been around the block with economic uncertainty. And I’ve paid attention. 

While I am not an economist, I do have a perspective on how to strategically move forward in the midst of an economic downturn. 

There’s a lot to unpack, so this is a two-part series. True to my approach, we’re starting with mindsets first and will get into strategies next week. 

Please read and share with anyone who might benefit. This is relevant to all - whether you're on the hunt, wanting to make a big change or worried about job security. 

We're going to thrive through this together 🫶.

Here is how to manage and strengthen your mindset so you can navigate this period of uncertainty successfully: 

Recognize that you might be in a Freeze response. 

Our nervous systems are evolutionarily designed to respond to significant danger by shutting down and sheltering in place. And our systems can’t distinguish between being chased by a lion and threats to our economic livelihood, and thus, your system probably is responding in the same way…by feeling overwhelmed and wanting to stay ‘frozen’ or safe in one place until the danger passes. 

There is a benefit to this! Even if not protecting you from a lion, it’s a decent coping mechanism. But it is not feasible to sustain for four years, nor strategic for your career. 

Staying in your current role might be strategic, but if you’re only staying because you're afraid of the economic uncertainty of making a change, focus on making yourself feel safe so you can shift from frozen to moving forward. Bolster your emergency fund. Create an ‘F-U’ or bridge fund to support your move. Model out all the worst case scenarios and show yourself how you'll resourcefully manage through each.

And take some deep belly breaths. We’re going to manage through this, and we’ll do it together. 

This is your moment to Lead. 

If you’ve ever wanted to be a leader, this is your moment. Just as the best leaders you know can guide their teams through tough ambiguous situations with fortitude and measured optimism, you need to lead yourself through this unique chapter. 

Meet the moment, and be the best leader you know how for yourself. Imagine you were just appointed CEO of a company. What would you say in your first all-staff? These are the same messages you need to give yourself. You are resilient and competent. You can do hard things. 

What’s the culture you want to create (for your team of one) during this stretch? Celebrate your wins. Give yourself recharge days. Surround yourself with the right people. Be mindful of what information you’re taking in and the narrative you’re crafting for yourself. 

Strong companies continue to thrive in uncertainty. So will you.  

Remind yourself that you are exceptionally, wildly capable. 

If the job market continues to get tighter, it will become harder to get jobs. I'm not going to sugar-coat this. But if anyone has the best chance of being successful in this market, it is you (and all the women in this community).

You are exceptional. You have elite professional training, top-name grad school and companies on your resume and a well-networked network. You can and will continue to create opportunities - whether it’s going after a new role or starting your own thing. 

Here’s the catch: you have to believe that. As you read the paragraph above, did you believe it or feel resistant? 

If resistant, grab a notebook and write all the reasons you doubt yourself. On the next page, write all the reasons those doubts are wrong. And on the third page, write all the reasons you believe in yourself. Work on internalizing the reasons you believe yourself, until you have unshakeable confidence that you'll be able to make the move you want (if you need more support, check out my Calm Confidence Toolkit).  

This is not bragging. It’s fully owning your capabilities and trusting yourself to create success. 

I know this stretch is unnerving. But you don't have to put your future on hold. 

Let's keep moving forward together. 

It is the ultimate act of resistance.