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A young athlete with a promising pro career, often plans to buy a house, along with a new car and a few luxuries as soon as the contract is signed. But is that the wisest move? While there’s no doubt that a comfortable home can offer pride in ownership, it also comes with costs and risks if finances are unstable. And the fact is, players often spend at a level that only makes sense during peak earnings. When those earnings end, a house payment, along with attendant expenses like property tax and maintenance continue.

Consider this: the average playing career for an athlete in the NFL is 3.3 years; for an NBA player, it’s 4.5 years; and in the MLB, one in five players will have only a single year career although the average is 5.6 years. Career volatility and the propensity for injury varies with position in football and baseball, but across the board, most players enjoy only a handful of years of active play. What happens after?

Professional athletes must also think about how long they will be based in one city. Players get traded from one franchise to another, moving from city to city and across the country. Accepting a trade may be required by the player’s contract—and life changes in an instant. Given the possibility of a trade or simply being cut, means renting can be a better option. Moving out too soon can result in tax penalties. If you don’t live in a home for 2 years, you will probably pay capital gains on any profit made in selling the house. As the seller, you also pay a realtor’s commission that ranges from 4% to 6% of the selling price. And property doesn’t appreciate quickly enough to turn a profit if you have to relocate in a year or even two.

Additional costs of ownership can occur if an athlete buys houses in different states—especially if one or more of the houses is an investment property. Loans for an investment property are often at a higher rate than an owner-occupied property. Estate and tax issues can also arise if you own multiple homes in multiple states, as well as legal complications should a dispute arise about the properties. You’ll need a good attorney in that case.

Home ownership also entails a time commitment. Again, consider how often a professional athlete travels during the playing season. While absent from the home, someone has to deal with maintenance or any damage that may occur due to fire, flood or earthquake. Renters can expect a landlord to take care of repairs and other chores, but a homeowner cannot. Do you want to take time to find a plumber when you’re on the road? Or, do yard work when you return?

While owning a home offers benefits like equity and certain tax breaks, renting offers greater flexibility. After all, real estate is an “illiquid” asset, meaning a property can take a long time to sell and you may not get the price you want. So, there are several considerations to take into account to make sure it’s the right time to buy, and the right place to buy—remembering that no one can foresee the trajectory of a playing career or guarantee a comparable income in the next phase of life Sudden reversals are just the nature of the business.

Home ownership is the American dream, but at a minimum, you must have:

• Enough cash for a 3%-20% down payment (while first-time homebuyers can get a loan for as little as 3% you will have to pay PMI)
• No debt – student loans or consumer debt
• Financial reserves to cover all expenses for at least 6 months should your income be disrupted in any way
• Beyond the down payment, and mortgage, you’ve factored in expenses like homeowners’ insurance, PMI, HOA fees, utility bills, property taxes, upkeep, etc.

Interviewed in Chicago magazine, professional basketball player Nazr Mohammed described how he learned the hard way about buying a home, renovating and losing money when he had to relocate from Detroit to Chicago. “I tell everyone, not just the rookies: rent. Because as an athlete, the only person making money when you’re coming and going [to new cities] is the real estate agent.”

Often, we think about pressure as existing in moments of high intensity—the pressure to save a life in the ER, to pass the bar exam, or to score the decisive point in the last seconds of a game.

Pressure, however, can exist over an extended period time as months of grueling athletic training or the protracted effort required to build a business.

How can we handle sustained pressure without losing focus, nearing exhaustion or succumbing to a sense of futility about one’s goals?

While I’ve encountered various prescriptions for avoiding burn-out, or making stress work for you, I found Dane Jensen’s perspective on the “problem” of pressure intriguing.

Jensen proposes idea that pressure is potentially a “solution;” actually, a form of energy or fuel, and that one’s mind-set is what matters most.

Under “long haul” pressure, we need to get in touch with the “why,” the “purpose-driven stuff.” We need to ask, what’s truly at stake?

In an article that contains an excerpt from Jensen’s book “The Power of Pressure,” he states that it is “…possible to not just endure these periods but actually become committed to navigating them as meaningful challenges we can rise to….[and] deep down we can feel a sense of pride in our resilience, confident that we can handle whatever life throws at us….”

The long haul, with its multiple professional and personal pressures, may not be as comfortable as we would like, but it can be a meaningful experience, a source of self-respect and confidence.

We need to be in touch with our passion, our over-arching intention, as well as the will to persevere and the capacity to know when we are low on fuel and need a moment to breathe.

I’m always looking for new insights into mental tools that help us to be more constructive in our approach to work and life.

While reading an article about self-confidence, I was struck by the idea of reframing one’s “less successful” experiences, not judging such events as “failures,” but rather as steps on the way to success.

The writer, West Point psychology professor Carmine Gallo, points out that the secret to improving performance is to “release” our feelings of disappointment or harsh self-judgement.

After all, we all make mistakes or fail to “match our expectations” whether our client presentation fails to impress, or our golf ball lands in the rough.

We need to learn from our mistakes, make note of what worked and what did not, and keep driving ahead towards the ultimate goal.

The “disaster” is just a bump in the road if you see it as incitement to practice (and practice more), as an experiment or as part of an active process in discovering what helps you relax, focus, and feel empowered.

If you’ve studied productivity, you’ll recognize the axiom above as Parkinson’s Law, the proposition of British naval historian Cyril Northcote Parkinson. The statement first appeared in a 1955 article in The Economist and later, as the basis of one of Parkinson’s books, The Pursuit of Progress.

To illustrate this principle, Parkinson used the example of an elderly lady who sets about writing a postcard to a niece. Since nothing else requires her attention, the simple task takes all day. She fills the time searching for stamps, looking up the niece’s address, worrying about whether the post office will be open, making a cup of tea, and discarding the original note to tinker with the language of the missive.

It’s easy to see how this example translates to emails, memos, and written reports in our workplaces. The impulse to give tasks more time than they require may be our desire for a bit of leeway, insecurity about one’s abilities or, it may relate to the idea that by taking longer, we will do a better job—although most people are limited in how long they can engage in purposeful activity without fatigue. Should we then impose strict time constraints on our work? Or that of those we supervise?

A relevant post on BBC WORKLIFE, addresses those questions and discusses Parkinson’s Law in more depth than I can do here. The article also quotes Princeton behavioral scientist Eldar Shafir on attentional fatigue: “Because our attentional capacity is limited, we divide it sporadically any way we can as we run through everyday life,” he says. Yet, now and then, we have to buckle down.

In his book “Scarcity,” Shafir and co-author Sendhil Mullainathan discuss the potential costs of laser-like focus: “When you have a deadline it’s like a storm ahead of you or having a truck around the corner. It’s menacing and it’s approaching, so you focus heavily on the task.” And while you may whip off a brilliant piece of work, problems can arise when all else is pushed to the periphery of one’s attention.

Plus, there’s a chance that pushing too hard, going too fast, can make us prone to errors in our work—just as it can lead to injury in athletic endeavors. “If your deadline is too short and you’re panicking…you might work inefficiently, and things might go badly anyway,” [Shafir] says. Ideally, we can find an effective way to complete our various tasks while managing both time and quality.

My recent post quoting mental training coach Colleen Hacker inspired me to watch a handful of YouTube videos featuring Dr. Hacker (professor of kinesiology Pacific Lutheran University). I found her words inspiring and useful not only for those who train for a sport as an amateur or a pro, but also for anyone pursuing a profession.

In one interview, Dr. Hacker emphasizes the power of the imagination – not just visualization – as a poly-sensory technique to improve performance in any competitive culture. One imagines vividly, specifically, in detail, and using all of one’s senses to achieve measurable results.

On another track, Dr. Hacker identifies the “4 pillars, plus one” of every sport—and perhaps any demanding endeavor. Those pillars are: Technique (whether the craft of cookery, surgery or sport); Tactical (adroit planning and prioritizing), Physiological (good health that supports one’s energy and endurance); Psychological (mental skills). The Plus One? How do I make my team better? How can I help others on my team, can I help my fellow players (or my family members, my colleagues) look good and succeed as well as myself?

Dr. Hacker is a great source of pithy quotes that might serve as useful mottos: “Do Now well.” “Go loose.” “Do simple better.” And importantly, “Mistakes are a part of living…a part of sport. Mistakes are a part of every role that we find ourselves in…a part of the fuel that fires us to improve.” When, inevitably, we miss a putt or drop the ball at work, recognize the error, own it and move on – let it go!

For top athletes, mental skills training is essential to dealing with the pressure of competition. Can the strategies Olympians use improve performance in any field?

An August article in the New York Times features a handful of top “psychological consultants” who work with world class athletes, counseling them on “…how to avoid choking under pressure, how to tune out media chatter and how to quell stomach butterflies.” Pressures arise in any profession on those days when it’s imperative to perform and keep cool, even if the spotlight is not quite as intense as it is during the Olympic Games. What do mental coaches have to say that we can apply to our own life?

1. Use Your Imagination

When Colleen Hacker worked with the 2018 women’s Olympic ice hockey team, she asked them to imagine the moves they would perform in competition. In many cases, the repeated use of such sensory-based imagery improves performance as much as a similar amount of actual practice. Try it on your tennis backhand.

2. Stress Out – With Intention

Find ways to boost your stress level as you prepare for a presentation or difficult conversation. How? Role-play with friends or practice in front of colleagues who might toss out provocative remarks as you learn to stay calm and collected.

3. Loose Up, Laugh It Off

Crack a joke, watch an SNL sketch, or dance around the office supply room. Laughter or horsing around with others can break the loop of negative thoughts and escalating tension.

We can take a tip from Julie Foudy, Olympic gold medalist, who says. “It’s like, OK, come on, laugh about it. And then let’s go win.”

I’ve written previously about developing “mental armor” to handle the pressures and demands of life and work.  The subject came up once again when I saw a Twitter post featuring Gordon Parker, AO (Officer of the Order in Australia), a prominent psychiatrist, who speaks briefly about burnout—what it is and how to prevent it.  Scientia Professor at the University of South Wales, Parker’s research into the symptoms of burnout leads him to promote physical exercise and meditation as two helpful ways to prevent or remedy the physical, mental and emotional exhaustion we know as burnout.

Doing a little further “research,” I learned that while burnout is not recognized as a distinct clinical diagnosis like major depression, the World Health Organization has recognized burnout as an “occupational phenomenon.”  In this context, when stress is excessive and/or chronic, one’s resources become depleted, affecting one’s performance at work—even if, or perhaps intensified by—working from home.

Professor Parker and a colleague, Gabriela Tavella, recently authored an article on burnout published on the ABC News web site, discussing burnout in a broader context than that of work alone.  The authors point out that an event like the pandemic created stress in virtually every context and that while escaping stressors isn’t always possible, there are “…some de-stressing strategies to help curb your burnout symptoms. Things like exercise, meditation and practicing mindfulness are consistently nominated…as most helpful.”

For my own part, I find that challenging physical activities—like climbing mountains—along with meditation, are good preventative medicine and invaluable in maintaining mental clarity and emotional balance.

#ICYMI: As the pandemic, the stresses, and the WFH/school life continues for many, a different kind of fatigue has set in – burnout. @blackdoginst's Prof. Gordon Parker says there are four things people can do, if they're feeling burned out and want to change it. #TheDrum pic.twitter.com/HqmaLwZMwL

— ABC The Drum (@ABCthedrum) September 17, 2021

In July of last year, an essay in the New Yorker proposed that crises can be a catalyst for positive change.  As the U.S. suffers a fourth wave of COVID-19, is optimism still warranted?  I am hopeful that we can count on human resilience in the face of adversity and historical evidence that suggests the potential of crises to “shake up the way people think.”  Those words were spoken by Gianna Pomata of Johns Hopkins University, and quoted by Lawrence Wright’s essay, “How Pandemics Wreak Havoc – and Open Minds.”

A professor of Medical History, Pomata notes that in the 14^th century a virulent disease known as the Black Plague devastated Europe (as well as China and India), but also ushered in the European Renaissance.  Arts and sciences flourished in this era of profound change, while hereditary class divisions and control of wealth gave way to new social and economic forms. “After the Black Death, nothing was the same,” Pomata says. “What I expect now is something as dramatic is going to happen… in economy and culture. Because of danger, there’s this wonderful human response, which is to think in a new way.”

Wright adds, “We seem to be at another point when society will make radical adjustments, for good or ill,” and his essay offers a look at the mixed effects of pandemics that emerged throughout the history of the western world.  Pandemics almost always triggered economic volatility, but responses varied widely.  Wright is hopeful that our present pandemic will open minds to the possibility of “major transformations.”  He notes that, “Like wars and depressions, a pandemic offers an X-ray of society, allowing us to see all the broken places.”

The events of early September 2021 might alert us to the urgency of a response to climate change, as well as to the effects of a COVID-19 rebound which has dramatically slowed hiring.  Much still seems uncertain, but perhaps a look at history can help us to find a sense of perspective if not equanimity—and also inspire us to take up the work of creating positive change.

Over the past year, elite athletes have brought unprecedented focus to the psychological challenges of performing at the highest level.  Unsettled by pressure to win the Gold, Simone Biles pulled out of gymnastics events at this summer’s Olympic Games.  Earlier, Naomi Osaka withdrew from the French Open, citing depression and mounting anxiety.  And in England, Tyrone Mings revealed that his mental health plummeted before Euro 2020, prompting the footballer to call upon his psychologist to cope with competitive anxiety.  An excellent article by Simon Usborne in The Guardian takes a look at the pressures faced by professional players and the rest of us:  “How to win at life:  What sports psychologist can teach us all.”¹

To capture a few points in The Guardian article:  sports psychiatrist Steve Peters, who has worked with British cycling, football, and taekwondo teams, says that he asks athletes to think about possible scenarios prior to competition to prevent panicky reactions during competition.  “I’d take a sprinter and say, this is what could happen in this 100m race: a world record; underperformance; or an unexpected event.”  Dr Andrea Furst, who works with England Rugby and the Australian sailing team, says the ability to focus on specific things that need to be improved separates elite athletes and mortals.  It’s the focus on the thing that needs to be changed, “. . .done day after day that makes supreme performers.”  Others emphasize pausing at critical moments to take control of a situation—but without overthinking it.

I believe that we can all learn from how athletes are nurturing well-being as well as prowess through disciplined preparation, learning to relax while remaining focused, and finally, allowing ourselves to celebrate even a small win.  The following is an edited list of 8 practices proposed by the psychologists quoted in the article:

• Break big goals into do-able chunks
• Use positive self-talk
• Visualize success
• Consider potential outcomes. Prior to competition, deal with the chance of a brilliant showing, a stumble or a random event to stay focused and “in the moment.”
• Use relaxation techniques:  breathing, meditation, music
• Ask yourself—and your coach or mentor—what’s not helping.  Then work on it.
• Pause before all-out effort – but not too long
• Celebrate triumphs big or small

1. Usborne, Steve, “How to win at life: what sports psychologists can teach us all,” August 21, 2021, The Guardian, retrieved 8/22/2021 https://www.theguardian.com/lifeandstyle/2021/aug/21/how-to-win-at-life-what-sports-psychologists-can-teach-us-all

At the Summer Olympics in Athens, twenty-one-year-old Oscar Figueroa placed 5th in the men’s weightlifting competition and came to Beijing in 2008 hoping to better his performance.  Unfortunately, due to a cervical disc injury, he failed to make a lift in the snatch category and left the Games without posting a result.  Failure and a risky surgery did not stop Figueroa.  With a new coach, he began training immediately and arrived in London in 2012 stronger and mentally committed.  With maximum concentration, he completed an Olympic Record lift of 177 kg, earning a Silver Medal.

A second painful surgery followed success in London, yet Figueroa maintained focus, practicing meditation and preparing mentally as well as physically for Rio de Janeiro in 2016.  Observers noted that he remained remarkably calm before a roaring crowd, with Colombian fans “in a frenzy” and rivals falling away.¹  In Figueroa’s own words, he knew that in order to win, “…you had to believe, to trust, to desire, to be disciplined…the only way was to keep working.”²  At age 33 in Rio, Figueroa fell to his knees and burst into tears after winning the men’s competition and taking home Gold.  “I never give up.”

1. https://www.hindustantimes.com/olympics/figueroa-whose-prison-sentence-was-commuted-wins-weightlifting-gold/story-Qjt0iI41l6Y8kTJ2A34biK.html
2. “Against All Odds,” video, retrieved January 10, 2021, https://www.olympicchannel.com/en/athletes/detail/oscar-figueroa/

The emergence of Covid-19 has forced all of us to change the way we conduct our lives.  For nearly a year, people in every circumstance and walk of life have dealt with an invisible threat to the health of family, friends, and neighbors, as well as the distress imposed by economic uncertainties.

While there is encouraging news about COVID vaccines, daily life continues to be challenging as infections again surge.  We still need what some military sources call “mental armor” to cope and carry on, to remain resilient and adaptable.

A key component of my own mental armor is meditation, which I use to mask the “noise” of the daily news and other distractions. I use both inner-focused meditation techniques and outwardly directed practices to help me to focus and “clear the decks.”

The second component is finding a purpose beyond my own immediate concerns.  As psychiatrist and concentration camp survivor Viktor Frankl wrote in Man’s Search for Meaning “Those who have a ‘why’ to live, can bear with almost any ‘how.’”  I also adhere to ideas expressed in Mihaly Csikszentmihalyi’s Flow: The Psychology of Optimal Experience: “It is by being fully involved with every detail of our lives, whether good or bad, that we find happiness, not by trying to look for it directly.”  For me, this means being clear about my intentions, setting goals slightly above my ability and engaging in physical activity. I see these philosophies at work when I run marathons and climb mountains to raise money for cancer research and in my commitment to financially support an Asian researcher.  Fighting cancer has profound personal meaning for me.

Finally, I find the Stoic philosophy helpful.  Epictetus (50 A.D.–135 A.D.) wrote that, “Some things are within our control and others not.”  The Greek philosopher consistently considered the capacity for choice and the limits of  “volition,” writing, “There is only one way to happiness and that is to cease worrying about things which are beyond the power of our will.”

In essence, leadership is the art of guiding a group of people toward a common goal.  But what are the qualities of an effective leader?  Is it a matter of charismatic personality or something that can be learned and cultivated?  My interest in leadership led me to an article in the Harvard Business Review entitled, “What Sets Successful CEOs Apart?”

The writers of the HBR piece, noting that 25% of CEO departures are involuntary, conducted a ten-year study called the CEO-genome project.  The resulting data disputes the frequent assumption that a successful CEO is most likely to be a tall, extroverted visionary with an Ivy League education and an astronomical IQ.  In fact, the key finding was that, “successful chief executives tend to demonstrate four specific behaviors” and that most high-performance CEOs excel in more than one of these four behaviors.  Those with a poor leadership profile rarely do so.

The Four Behaviors

Deciding with speed and conviction

High-performing CEOs “make decisions earlier, faster, and with greater conviction…even amid ambiguity, with incomplete information, and in unfamiliar domains.” In fact, leaders who were indecisive were much more likely to be fired than those who simply made one bad decision.

Engaging for Impact

Once a decision has been made, the CEO must get people “aligned around the goal of value creation.”  Per the study, CEOs with a results orientation were “75% more successful in the role.” And while good leaders do solicit information and ideas, they must also be willing to engage in conflict and ultimately, chart a clear course—giving “everyone a voice but not a vote.”

Adapting proactively

The authors’ analysis shows that leaders who excel at adapting “are 6.7 times more likely to succeed.”  Equally, the ability to adapt requires an ability to think long-term and anticipate change.

Delivering reliably

Project data indicates that reliability is paramount.  “A stunning 94% of the strong CEO candidates we analyzed scored high on consistently following through on their commitments.”  The writers also note that reliable results require the ability to effectively organize, plan, systematize and build a strong team.

I think anyone can benefit by practicing these four behaviors.  After all, imagine an indecisive military leader, a football quarterback who can’t adapt to moment-by-moment shifts on the field, or any leader in business who doesn’t engage and motivate his or her team.  I hope you will find this information as useful as I have.

This is the No. 1 behavior that transforms ordinary people into successful CEOs. https://t.co/PkMIHRTN8C via @CNBCMakeIt pic.twitter.com/P7pb8Nzg31

— CNBC (@CNBC) May 20, 2019

The question arose after reading an article in The New Yorker by Douglas Starr, professor emeritus of science journalism at Boston University.¹  Although the article was written with regard to how the concept of swarm intelligence might apply to guiding a response to the current pandemic, Starr prompted me to consider how it might apply to sports and even more broadly.

First, a definition:  swarm intelligence is the “phenomenon in which groups of animals act in concert” or when people “come together to create a synergy that magnifies their individual capabilities.”  It differs from cooperation, in which people work together in a structured way to achieve a specific goal.  Starr notes that, “…it’s an emotional and reactive behavior, not a plan that can be written out on a flowchart.”  It’s the unified action of soldiers in battle, or the way that a basketball team can seem to move as one.

I drew from Starr’s article 5 essential elements of “swarm intelligence:”

• Unity of purpose
• Adoption of a spirit of generosity
• “Stay in your lane”
• “Check your ego at the door,” decline to seek credit or assign blame
• Interpersonal trust and respect

In an interesting way, retired college football coach Urban Myers’ in a recent Twitter post, refutes the idea that “bad players” are the cause of poor team performance.  According to Myer, you have to “look under the hood,” where you will discover:

• Trust issues – between players and coach or among the players
• Dysfunctional environment – e.g., high-performance expectations, but a lack of discipline and hard work
• Selfishness – a lack of generosity and mutual support among players

For both journalist and coach, exceptional performance as a team or in Starr’s case, a task force, requires a shared sense of purpose, a spirit of generosity and an environment of trust and respect.  These values are at work whatever your game.

1. https://www.newyorker.com/culture/annals-of-inquiry/what-should-crisis-leadership-look-like?utm_source=twitter&utm_medium=social&utm_campaign=onsite-share&utm_brand=the-new-yorker&utm_social-type=earned

This is how Navy SEAL training can put your ego in check pic.twitter.com/yWm3JNbuPQ

— Business Insider (@businessinsider) March 29, 2019

If you had 15 minutes with a Nobel Laureate, what would you ask?

When PhD student Sofie sat down with 2018 Chemistry Laureate @francesarnold, they talked about everything from fearlessness to persistence.#WomenInScience

Watch the full conversation: https://t.co/Wa35lDUnSq pic.twitter.com/jVGNSTRU9D

— The Nobel Prize (@NobelPrize) March 7, 2019

“The organization will let you work on whatever you want to work on. You just have to make sure you are working on things only you can work on… Certainly true if you are going through a period of tremendous scrutiny or big changes… You have to set time aside to make sure you know where you are.” Qualcomm CEO Steve Mollenkopf, minute 22.

Mr. Mollenkopk’s words had a big impact on me as an entrepreneur as there are no shortage of items that need attention. His comments bring clarity to how to prioritize tasks to determine what needs should be delegated versus owned. End goal is efficiency as to avoid burnout as one scales mountains.

Louis Gerstner’s book Who Says Elephants Can’t Dance is a fascinating account of the former IBM CEO’s historic turnaround of the tech giant. One lesson I took away from the book (available on Audible.com) was that Gerstner initially made no major decisions, but rather spent time talking with different divisions.  One when he had a clear idea of IBM’s needs across the organization, did Gerstner develop an overarching strategy that served to right the ship.  This collaborative approach relates to author Steven Kotler’s statement in Stealing Fire about the  kind of leader Google was seeking in a CEO: someone able “…to let go of his ego, merge with the team…” Stealing Fire by Steven Kotler and Jamie Wheal is available on Audible.com.

How Google used Burning Man to find a CEO who was familiar with group flow pic.twitter.com/saUgEX2q2r

— Business Insider (@businessinsider) January 19, 2019

IAC Chairman and media legend Barry Diller: "One of the ways you guard against arrogance is to forget success. So I just always tried to brush it clean. Sometimes successfully."

Read more: https://t.co/UyUmWhZngO pic.twitter.com/CUniGohzQ4

— Yahoo Finance (@YahooFinance) January 19, 2019