As we indicated in the course introduction, being resilient and having grit comes from being passionate and persevering. In this lesson, we will look at our mindset and attitude. We all have heard many times about the importance of having a positive attitude, and that looking at the glass as half full, and we're gonna learn how to help develop this mindset. In this next lesson, guy which a psychologist gave a TED talk on emotional hygiene. His premise is that we favor looking after our physical selves more than we do our minds and that our minds are more important to maintain. This is particularly relevant in terms of building resilience and overcoming setbacks.

For example, the feeling of loneliness is toxic to the mind. The feeling of loneliness increases our chance of death by 14%, which is similar to the risk of smoking. Another toxin to the mind is the feeling of failure. When we fail, the mind tricks you into believing you can't do something It compounds failure on one things to all things, destroys resilience. This ties into the idea of pervasiveness, which we'll talk about in a later lesson. When we experience rejection or mind say damaging messages to ourselves, that negative self talk, such as I'm not good enough, I don't look right.

People know I'm a failure. Everyone's looking at me. And rumination is another toxic habit of the mind. We ruminate when we replay situations over and over in our mind, we ruminate when we stew on different matters. All of these emotional states are road resilience and to build executive presence. You need to recognize and address these states to persevere through adversity.

So let me ask you this. How do you cope with failure? Everyone fails all the time. 80% of small businesses fail within the first two years. It is how well you deal with and learn from failure that will determine If you will eventually become a success. Let's look at a few examples here.

Richard Branson has a net worth of approximately $4.6 billion. But he wasn't always that successful. in his teens, Branson had poor reading and math skills, dropped out of high school, and is now proud to admit that he's been dyslexic all his life. His first business endeavor, the student magazine, which he started when he was 16, had difficulties with the UK law enforcement agency. Richard almost went to jail for publishing remedies for venereal disease in the magazine. Maybe not as your problem now, but 40 years ago, that would have been a big deal.

Didn't stop there. He almost went to jail for tax evasion. When his virgin record shops suffered severe cashflow problems. The experience as he recalls had a big impact on him. That to myself that I would never again, do anything that would cause me to be imprisoned, or indeed do any kind of business deal that would embarrass me. The train to failure However kept on going for a long time.

Virgin Cola, Virgin vodka, Virgin v virgin brides virgin clothing, Virgin cars, Virgin digital, all failed, and the list could go on for a long time. But as we know he's had tremendous success since then. I guess you could say Branson is the king of the entrepreneurship club. If you're an entrepreneur and your first venture wasn't a success, welcome to the club. We all know Steve Jobs as the guru entrepreneur, the genius behind best selling products such as the iPod, iPad, iPhone and the MacBook. He is one of the most influential business figures of our time.

And he's gonna be forever remembered for the impact he's had on the digital world. Before that success, though, he also had his share of failures. In his first go round at Apple. He and partner Steve Wozniak invested their savings and time into the apple one, which sold a not so impressive 100 In 75 units, he then had a massive failure with a product that was named Lisa, which resulted in him leaving Apple for a time. applying the principle failure is just feedback jobs went on to create another company. And he xti that company also met its demise due to hardware issues in the product.

Eventually, the software division was sold to Apple and Steve returned to a starting point. But now, armed with so many failures, Jobs was more determined than ever to succeed his dream of creating a company that will still stand for something a generation or two from now, just like Walt Disney was finally going to manifest. And finally, Bill Gates with a net worth of close to 100 billion dollars, has had his share of failures as well. His first company was Truffaut data, the objective of which was to read the raw data from roadway traffic and create reports for traffic engineers. This way the company would optimize traffic and end road congestion The company's product was the troppo data 8008, a device which could read traffic tapes and process the data. They first tried to sell the processing service to the local county.

But their first demo failed because the machine just didn't work. Partner Paul Allen summarized the experience for exactly what it was. Even though troppo data wasn't a roaring success, it was seminal in preparing us to make Microsoft's first product a couple of years later. And happily, that's exactly what they did. They kept on going and Microsoft became the largest personal computing software company in the world. But it's still nice to know that even the most successful entrepreneurs in the world can make business blunders.

And I have certainly had my share of failures and challenges. My executive VP job at a publicly traded gold mining company was eliminated due to the collapse of the market back in 2012. I was initially devastated by the loss. Even though I had a fantastic contract, my identity was completely tied to my big job. In a small market of my city, it was nearly impossible to replace the income and perks that came with that job. Although I successfully found contract work shortly after, I couldn't shake the feeling of being a loser, and it severely impacted my confidence.

I then found a role as a CFO for a large private company. I knew in my gut that it wasn't the right fit right from the start. But I was so desperate for the job security, the title and the prestige that came with being the CFO, that I took it anyways, a little over a year later, the corporate culture became unbearable, and I decided to leave. Although the situation was not my fault, it was incredibly hard on me. I was extremely self conscious and believed everyone thought I was to blame and that he was seen as another failure on my part. I avoided social situations and business networking for months.

To be clear, not one person told me that I was a loser, or that they believed it was my fault. But I created this monster in my head. That was so convincing that I believed it. So how did I get past it? I made a decision to never work for someone that I didn't respect again, and decided that I was going to build my own business and be successful on my own terms. And that's what I've done.

Two years later, later, and I have a thriving growing business and an excellent company, believing in yourself when you're in the middle of a situation. That is just that a situation a point in time, something you have the power to change makes all the difference. Dr. Carol Dweck published her best selling book mindset in 2006. In this book, she shares her research about how your mindset changes your outcomes in all areas of your life. Her work focuses on the power of people's beliefs, and shows how changing these beliefs even the simplest ones, can have profound life. Changing affects the views you have of yourself and your abilities can transform your life.

Dr. Dweck, research shows that people can have either a fixed or growth mindset. When you have a fixed mindset, you believe that your qualities are carved in stone. This creates an urgency to prove yourself over and over again. Every situation calls for confirmation of your intelligence, personality and character. It is normal and fine to want to prove these traits. But with a fixed mindset, you believe that you are the hand that you've been dealt and it can't be changed.

This is great when you're succeeding and everything is going well. But eventually, we all come upon a situation where someone else gets a job you wanted. When your romantic partner breaks up with you, when you don't do as well as you had hoped on that important test. That is life. But when you have a fixed mindset, these setbacks can be devastating. Because you always feel that you aren't good enough.

You see it As a character flaw, what people think about you is everything. And that's a tough way to live. If you have some of these beliefs about yourself, you may have a fixed mindset. You believe your intelligence is something very basic about you that you can't change very much that you can learn new things. But you can't really change how intelligent you are. You are a certain kind of person.

And there's not much you can do to change that. You can do things differently, but the important parts of who you are can't really be changed. On the other hand, you can have a growth mindset. This mindset is based on the belief that your basic qualities are things you can cultivate through your efforts, your strategies, and help from others. You believe your true potential is unknown, and can grow and develop with passion, perseverance and training. A passion for stretching yourself and sticking to it, even when things are going well is the hallmark of the growth mindset.

Imagined Stop having this day you sleep in. In a rush to get to work on time for an important meeting, you get a speeding ticket. Because of the blame of the police officer, you're almost late for an important meeting at work. You get a call from HR to tell you that you didn't get that promotion you applied for you had home feeling dejected. You pick up your two young kids from daycare and one throws up in the car on the way home. It's not much fun.

Great, not only do you have to clean up the car, but you have a sick kid will have to stay home tomorrow. And then so will you. People with a fixed mindset might react like this. I'm a loser. Nothing ever goes right? life is unfair.

Why do I even bother? I'm an idiot. What's wrong with me? They may take it out on someone else. eat an entire tub of ice cream. know if there's anything wrong with that, or refuse to get out of bed.

But Are any of these things catastrophic? Not at all. It's just a bad day and we all have those people with a growth mindset might say, I'll make sure that my alarm is set before I go to bed. I knew Susan was more qualified for that promotion than me. She'll do great. And I'll try again.

I'll get back a babysitter range so that the next time a kid is sick, I won't have to stay home, except that it was a bad day. But be thankful that it wasn't worse. Come up with strategies to deal with life's inconveniences. Next time.