As founders are going through difficult times now due to the COVID-19 situation, it helps to have the right mental model. A good mental model avoids the rollercoaster emotions of fear/euphoria. It prevents bad decisions arising from those emotions. Here is a thread on that.

1. Accept responsibility. YOU are the reason for everything that is happening in your company. It’s not the market, partners, investor, investment climate, or team but YOU and how YOU handled them. Even if you believe otherwise, just assume and accept this.

2. Be in 'Form'. The objective of the mental model is to get YOU in Form (aka 'Flow'). Like a cricketer, however great your skills, you will still fail if you are not in Form. By Form, I mean you can execute effortlessly without fear or excitement. Effortless is the keyword here.

3. Leave Beliefs at bay. It doesn't matter what YOUR beliefs are or what you learned from the past. It doesn't matter what your 'Gut feeling' says. Don't predict the future based on your beliefs. It's just your Ego. Truth is unfolding in front of you. Just observe and react.

4. Don't have 'Favorites'. Scrap your favorite project. Chuck your favorite framework. Leave your favorite team member. React objectively, honestly, and truthfully.

5. In uncertain times like this, take one day at a time. What matters is 'Now' and how you respond to today's events. Forget the past and forget the future. Focus on 'Present'. Forget your 5-year business plans and plan for today.

6. Don't be a naive Optimist. You are not seeing the Reality and also preventing your team from seeing the Reality. And you will end up making hefty promises to partners that you can never fulfill. Hope or optimism is not going to solve your problems.

7. Self-pity is a crime. A Founder should quit instead of getting into this vicious loop of 'Self Pity'. You will never win without a winning attitude and you can never get that attitude with Self-pity drowning you.

8. Fuck Fear. If you are afraid of every step, how can you ever take a bet? Your job continues to be taking calculated bets and doubling down on winning bets. Don't let fear stop you in these uncertain circumstances.

9. A winning attitude is not Greed. It's not the same as being hopeful. It's about playing to win. It's about execution without the fear of failure or excitement of success.

10. Stick to the input process. The output is outside your circle of influence. Input is how you should measure yourself. Would you do anything better if you have to re-do a process or re-live a day? If no, you have succeeded irrespective of what the outcome was.

11. Unshackle the constraints. Don't promise anything to team, partners, or investors. Just tell them your process and get alignment there. Freedom gives you a lot of options in these circumstances.

12. Last - Don't retaliate or take revenge steps. Be it Employees, Partners, or Investors. They are also facing tough times and might hurt you in the process of saving themselves. Revenge will cost you more than to them.