Welcome to the “Show Me The Way” podcast with David Seitter
In this episode of “Show Me The Way,” Dave sits down with Dr. Michelle Robin, Chief Wellness Officer of Your Wellness Connection, to discuss the impact of stress and anxiety that arises during business-related processes like mergers, acquisitions, and succession planning and how to handle them effectively.
Ep. 39 — From Stress to Success: Managing Anxiety in Business Deals with Dr. Michelle Robin
In the fast-paced world of business, dealing with stress and fatigue is inevitable, especially when it comes to complex processes like mergers, acquisitions, and succession planning. Dr. Michelle Robin, owner of Your Wellness Connection, shares valuable insights on how to navigate deal fatigue and stay mentally and physically well throughout the journey. We’ll highlight the key takeaways to help you effectively deal with the challenges that arise during business transactions.
Understanding Deal Fatigue
Dr. Robin defines deal fatigue as a condition that occurs during negotiations when parties on both sides of the transaction feel frustrated, helpless, or exhausted by the never-ending negotiation process. She emphasizes that deal fatigue is common in mergers and acquisitions, where the parties become adamant in their proposals and positions, often prolonging the negotiations. Understanding the causes and recognizing the symptoms of deal fatigue is the first step in effectively managing it.
Dealing with Stress and Anxiety in Business Deals
Dr. Robin stresses the importance of taking care of your overall well-being when dealing with stress and anxiety in any aspect of life. She suggests focusing on four pillars of wellness: physical, mental, emotional, and spiritual needs. By addressing these aspects and ensuring a balanced approach, individuals can make better decisions and manage deal fatigue effectively.
Starting with Your Why
Before delving into any deal or undertaking, Dr. Robin advises individuals to understand their “why.” By identifying the deeper purpose and motivation behind the deal, it becomes easier to navigate challenges and maintain perspective.
Take a Breath and Reconnect
Dr. Robin emphasizes the importance of taking a deep breath and reconnecting with oneself. By practicing mindfulness and being present in the moment, individuals can better manage stress and make decisions that align with their goals.
Seeking Perspective
When dealing with deal fatigue, it is crucial to maintain perspective. Dr. Robin suggests asking yourself, “What’s the worst thing that can happen?” Putting things into perspective can alleviate stress and make the decision-making process more manageable.
Reframing the Situation
To combat deal fatigue, individuals should reframe their mindset. Instead of focusing on the challenges, they should view them as opportunities for growth and learning. Reframing helps individuals maintain a positive outlook and approach the situation with renewed energy.
Navigating deal fatigue requires a holistic approach that prioritizes overall well-being and mental clarity. By understanding the causes of deal fatigue, practicing self-care, and maintaining perspective, individuals can effectively manage the challenges that arise during negotiations. Dr. Michelle Robin’s insights provide valuable guidance in dealing with stress and staying centered throughout the process. Remember, taking care of yourself is paramount, and when you’re at your best, you can make better decisions throughout your business journey.
To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at dseitter@spencerfane.com
Disclosure
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.