part 4 of 10 of the Thriving in Uncertainty Series
Estimated reading time: 6 minutes
The Unbreakable Power of Focusing on What You Can Control
Rubin “Hurricane” Carter was a boxer who fought the greatest battle of his life not in the ring, but in a prison cell for nearly 20 years—wrongfully convicted for a crime he didn’t commit. Stripped of his career, freedom, and reputation, Carter faced a choice: let bitterness consume him or focus on what he could control. While the courts and public opinion were beyond his influence, his mindset was not. Carter chose to rise above his circumstances, proving that true power comes from mastering our own thoughts and actions, not external events.
Instead of giving in to bitterness or despair, Carter focused on educating himself, writing, and maintaining his dignity. He famously said, “I am not a prisoner. I am a free man; my mind is free.” Despite everything being taken from him, he found strength by focusing on what he could control—his mindset and actions. His perseverance eventually paid off, and his conviction was overturned in 1985.
In the Stoic philosophy, the Dichotomy of Control teaches us a timeless lesson: we must differentiate between what we can and cannot control. This mindset is especially powerful for financial advisors and business leaders navigating uncertain markets, client expectations, and broader economic forces. When we focus on what lies within our control, we avoid the energy-sapping trap of trying to change what is outside our control and therefore cannot be changed. But this isn’t just a philosophical discussion, modern behavioral science findings show that we often fall victim to the illusion of control — the belief that we can influence outcomes in situations where, in reality, we have little or no control.
The Value of Assessing and Directing Our Efforts
While we can set strategies and define clear objectives, the reality is that the end result is often beyond our control. What is within our control are our actions, decisions, and efforts along the way. In life, business, and relationships, it’s not about relentlessly chasing specific goals. Instead, desired results naturally emerge from focusing on what we can control—the process, the journey.
We live in a world where technology gives us the illusion of control—flip a switch, and the lights come on; turn a tap, and hot water flows. We’ve built systems that make life feel predictable, and the narrative that we are the masters of our own destiny only reinforces this sense of control. Yet, this illusion often leads to frustration and anxiety when we inevitably encounter things beyond our control.
This is the fourth of a 10-part series about Thriving in Uncertainty. Rather than chasing control over every outcome, I’ll share tools and frameworks that help us embrace uncertainty, focusing on resilience, learning, and adaptability instead of the futile pursuit of controlling the uncontrollable.
This is a dialogue we all need to engage in. I believe the biggest challenges ahead involve letting go of the illusion of control and building the mindset and skills that allow us to thrive in uncertainty. What do you think?
Comment on this post or send me a private message to share your thoughts, stories, and feedback. Let’s explore this journey together and shape a future where we embrace uncertainty rather than trying to control it.
Accepting what is not in our control, and focusing energies on what is in our control, is a profound tool for improving decision-making. Think of an archer aiming at a target: they can control their practice, equipment, and release — but once the arrow flies, the wind or a defect in the arrow could shift its path. The Stoics teach us that our power lies in the process, not the outcome. Master the shot, but let go of the result.
In financial advisory and leadership, knowing where to direct your energy is crucial. If something is within your control, take deliberate action. If it’s not, let it go and move on to the next productive task. This not only prevents burnout but also helps you stay focused on your real goals.
In modern society, however, we are encouraged to buy into the illusion of control which causes individuals to overestimate their ability to control events that are, in reality, beyond their influence. For example, investors may feel they can ‘time the market’ or control investment returns, when in fact, these outcomes are largely dictated by external market forces. Ellen Langer’s research demonstrated that factors like personal involvement or frequent action — such as making constant trades — can deepen this illusion, leading people to believe their skill can influence random outcomes.
Understanding this cognitive bias is essential for advisors to avoid costly mistakes. In fact, traders who exhibited higher levels of this illusion of control were shown to perform worse in both analysis and risk management. By focusing on what truly lies within their influence — client relationships, consistent investment strategies, and sound financial planning — advisors can avoid the pitfalls of this bias. Similarly, by focusing on what is within their control — the inputs in the decision-making process, getting broad perspectives, thinking proactively about likely obstacles and setbacks — business leaders can minimize the likelihood of poor outcomes, even though the outcome itself is out of their control.
Lessons from John Wooden and Focused Action
Legendary UCLA basketball coach John Wooden understood this dichotomy better than most. During his tenure, Wooden led his teams to 10 NCAA championships, focusing on the few things his players could control: effort, attitude, and preparation. He famously didn’t allow his players to fixate on refereeing decisions, the strength of the opposition, or other external distractions. By focusing their energy on controllable actions, Wooden’s teams became some of the greatest dynasties in sports history.
Similarly, financial advisors can help clients by teaching them to accept market volatility or changes in tax policy — things they cannot control — while emphasizing the importance of consistent saving, rebalancing, and sticking to long-term plans.
Actionable Insights for Advisors and Leaders:
- Teach Clients to Recognize the Illusion of Control: Just as gamblers believe they can influence a roll of the dice, investors often think they can time the market. Advisors must educate clients on focusing only on the elements they can control, like regular contributions and diversification. Leaders must remember that they can create strategy, but so do their competitors — everything is always in motion.
- Focus on Controllable Factors: Encourage your clients and team members to direct their energy toward things within their control, such as savings rates, investment behavior, and tax efficiency, and the quality of their analysis, rather than chasing market returns or rigigly implementing a static strategy.
- Combat Bias through Education: Address the illusion of control by making clients and team members aware of this bias. Help them understand that personal involvement — like frequent trading — can often lead to negative outcomes.
We can’t control uncertainty, but we can control how we respond to it. I believe this is one of the most pressing challenges we’ll face in the coming years. What do you think? Comment below or send me a private message to share your thoughts.
Next Edition:
Next, we’ll dive into Define, where we’ll explore how gaining perspective can help clarify what truly matters. Stay tuned!
