LAS VEGAS—How can a person not just change the course of their own life but even disrupt the entire financial services industry? By simply counting down 5-4-3-2-1.
It’s a strategy that Mel Robbins shared with attendees at CUNA’s America’s Credit Union Conference that helped her to overcome the fears, anxieties and doubts in life that had long plagued her. In fact, just counting down from five is what she credits for moving forward in life so that she is now a successful CNN legal analyst, speaker and entrepreneur. That philosophy for decision-making in life, which she calls the Five Second Rule, has helped to guide her for more than five years. And it can help credit union leaders, as well, she said.
“If you want to change, innovate and change the perception of credit unions—not only with existing members but new ones as well–it will come down to your ability to make five-second decisions,” said Robbins.
Robbins, who has presented one of the 10 most viewed TED Talks, shared a story of how some five years ago her husband decided to quit his job and open a small chain of pizza restaurants. The first one was successful, but then all three began to fail.
“We have to go back to 2008, a time I know was horrible for you and many of your members,” Robbins said. “When I turned 40 my husband came home with a box of stuff. And I asked what was in the box, and he told me his stuff from work and that he had just gotten fired. I told him things would be OK. And then he said the words you never want to hear from your spouse—‘I have been thinking…’”
$800,000 In Debt
Robbins went on to explain that her husband wanted to open a pizza restaurant and used a second mortgage on their home to finance it. Initially, the business prospered, enough so that her husband invested in two more restaurants. Those restaurants lost money, and to keep them open required another line of credit, the emptying out of a 401(k), and the draining of their kids’ college fund. What all that added up to for Robbins and her husband was $800,000 in debt. And in the middle of all that, Robbins lost her job.
“I remember having to call the local town and say we couldn’t afford the $120 for one of my kids to play soccer,” recalled Robbins. “I don’t think anyone gets up in the morning and says I want to screw up my life. I woke up one morning and said, ‘How did I get here?’”
But what turned Robbins’ life around was another morning epiphany: the power of counting backward—5-4-3-2-1.
“I invented the rule by mistake, and I never thought I’d be the kind of person making a living talking on stage,” said Robbins.
Robbins explained that for much of her life it had been difficult to get motivated to even get out of bed in the morning and to try to make positive changes in her life, such as going to the gym and looking for work. She suffered from numerous anxiety and even depression.
“One night I was watching TV and there was a rocket blasting off at the end of a commercial,” recalled Robbins. “I said to myself that when I want to get out of bed (the next day), and I am lying there thinking I don’t want to get up, I am going to count 5-4-3-2-1 and then launch myself out of bed so fast I won’t have time to think about not doing it.”
Not Mumbo-Jumbo
Robbins said she started doing that for several days in a row and that she noticed her new exercise was working.
“When you hear the world courage, you tend to think about facing the big stuff—life and death situations. But courage can be facing the small situations, things that you are uncertain about or fear. Courage is what I needed to get out of bed and face all the things in front of me,” she explained.
Today, the Five Second Rule has helped Robbins overcome many obstacles in life her mind has placed in front of her due to procrastination, fear and simply overthinking.
The power of the Five Second Rule isn’t just some baseless self-improvement mumbo-jumbo, said Robbins. Instead, there is science behind it.
“Our brains are on autopilot 47% of the day,” said Robbins. “These are activities you do every day, encoded patterns in your brain.”
But it’s that same autopilot that makes it very difficult for people to overcome fears and insecurities and make changes in their lives, she said. And that’s where the counting down from five comes in. The exercise “blocks” the brain from functioning on autopilot and engages the region of the brain, the prefrontal cortex, that gives people the confidence to take control of their actions.
“Psychologists call it a starting ritual, and as you use it over time it will prompt you to act with confidence and courage,” Robbins said.
Robbins encouraged CU executives to apply the Five Second Rule to take control of their business lives and make decisions they know will improve the credit union and the industry.
“Use this to push yourself to change, to find the courage to speak up,” said Robbins. “Do not underestimate your ability to change the things that matter to you—it will all come down to five-second decisions.”