You work at the intersection of neuroscience and entrepreneurship. What’s the biggest cognitive trap founders fall into without even realising it?
One of the most common cognitive traps founders face is not getting to grips with prioritisation of tasks and constantly being in multitasking mode. While it feels productive, multitasking actually reduces the efficacy of attention processes, spreading it thinly if you will, which, reduces efficiency, and increases mental fatigue. Founders often juggle multiple roles, wearing every department hat, but this constant switching between tasks can impair decision making and ultimately lead to burnout. Instead, focusing on focused work, dedicating uninterrupted time to high priority task can significantly enhance cognitive performance and outcomes.Â
Decision fatigue is something every founder experiences. What are some practical strategies leaders can implement to combat it?
Decision fatigue occurs when the brain becomes overwhelmed by the sheer volume of choices made daily, effectively the glass is flowing over. Some practical strategies include:Â
- Automating routine decisions through habit formation: The more automatic tasks/behaviours become, the more efficient you are cognitively, when we form habits, especially morning ones, we aren’t pulling so much of our cognitive reserves and therefore have more ‘battery’ when it comes to the working tasks..
- Prioritise decisions early in the day: Tackle big decisions when your cognitive energy is at its peak. I also suggest a decision limit per day, dependent on the level of business you are at.
- Batch similar tasks: Grouping similar decisions or tasks reduces cognitive load, this is effectively a chunking technique which scaffolds cognitive processes.Â
- Take cognitive breaks: Short, intentional breaks, like a walk or mindfulness exercise help reset the brain and improve focus. If you can get outside in daylight the impact is even greater on cognitive performance.Â
You speak about “brain profiling”. What exactly is that, and how can understanding our cognitive profile boost business success?
Brain and Cognitive profiling for me are interchangeable. Cognitive health profiling is a comprehensive assessment of your unique cognitive strengths, weaknesses, and cognitive patterns. Unlike personality tests, it explores how your brain functions in specific cognitive areas such as decision making, problem solving, memory, information processing, visual processing, and more. By understanding your cognitive profile, you can:
- Highlight your cognitive strengths to maximise productivity in your business..
- Identify areas for improvement and develop targeted strategies.
- Make better decisions by aligning tasks with your natural cognitive patterns. Much like our bodies, we have a profile of strengths and weaknesses..
- Enhance team behaviours by understanding how your brain interacts with others and others
- Understand what aids decision making, your impulsivity tendencies and what causes fluctuations with these processes.
- Learn how resources are best presented to you and how your brain ‘likes’ to see and read information to make informed decisions without wasting time.
Many business owners struggle with impulsive spending. What role does brain chemistry play in this, and how can we retrain our financial decision-making habits?
Impulsive spending often stems from the brain’s reward system, particularly the release of dopamine. This neurotransmitter is associated with pleasure and reward, and impulsive purchases can trigger a dopamine rush, creating a temporary sense of satisfaction. Such behaviours are also emotionally linked, as well as being impacted by cortisol, the stress hormone. A combination of these can lead to poor financial decisions over time, if the brain keeps seeking the reward (and more importantly the processes of getting to this reward). Understanding your pre frontal cortex behaviours via cognitive health assessments enables you to gain insights into your processes, as well as the role of emotion and behaviour. To maintain ‘sensible’ financial decision making habits:
- Pause and reflect: Implement a “24 hour rule” before making non-essential purchases. This allows the initial dopamine surge to subside, enabling more rational decision making.
- Mindful Spending: Practice mindfulness techniques to become more aware of emotional triggers that lead to impulsive spending.
- Cognitive Reframing: Shift your mindset from immediate gratification to long termer goals. Visualising the benefits of saving or investing can help rewire your brain’s reward system and reduce the dopamine seeking tendencies.Â
What’s one daily cognitive habit or mindset shift you recommend to all entrepreneurs to reduce burnout and sustain high performance?
One of my most recommended strategies for maintaining cognitive health and long term brain health is to learn something new. Every day. Even if it’s small. Incorporate a daily habit of learning or experiencing something new. This could be reading a short article on a topic outside your expertise, trying a new skill, or even taking a different route on your run. Better yet learn a language. Novel experiences stimulate the brain’s neuroplasticity, enhancing adaptability, creativity, and problem solving. For entrepreneurs, this can lead to fresh perspectives and new solutions.
