How Entrepreneurs Thrive

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Scenario: "Dude, it's going to take so much blood, sweat, tears, and a zillion hours of work to build a million-dollar business. Ahh!" You take two people from different socio-economic backgrounds:

  1. Poor kid Pappy who works his butt off feeding his family.
  2. Rich dude Richie rolling with silver-spoons from his rich dad.

Flash-forward 15 years later: They become entrepreneurs. Typically in these scenarios, what would happen?

  1. Pappy would grow up generating a decent $50K/year working 100-hour work weeks.
  2. Richie would grow up making $MM/year working half-as-hard.

You might think:

"Hey! That's unfair! The rich kid fed off his dad!"

But, look closer to their business mindsets/expectations/biases:

  • Pappy: "It's almost-impossibly-hard to make millions. That means since I work 100 hours making $50K, I must work 20x more work."
  • Richie: "It's not-that-hard to make millions. I saw how my dad, his partners, and his peers worked. Now if they can do it..."

In others words -- while Pappy thinks it'll take 998543985925328230985092835039809235 to build a million-dollar business: Richie thinks it'll take 5000 hours to do it. The both act accordingly -- with Richie probably always winning.

How Your Mindset Can Screw You

  • You expect an easy test: you start finding the least path to resistance.
  • You expect a hard test: you start over-complicating yourself.

Your expectations dictate how you'll act.

  • If Pappy thinks creating a million-dollar business takes is super-complex -- like computing complex profitability formulas, enforcing Six Sigma management, conducting comprehensive due diligences for suppliers, doing five-month background checks, attending nationwide networking conferences, reading every Tony Robbin books, yadda, yadda, yadda -- he'll complicate himself unnecessarily.

That leads to: 'I never enough time in a day to do what I have to do in a day,' resulting in a disastrous failure.

  • If Richie thinks it's simple to gear his business for millions, he'll take a much easier route: (1) consistently filling his sales pipeline, then (2) fulfilling those orders. Done.

His chances for success got way sexy.

Building Your Business Should be Simple

  1. Take any typical entrepreneur who's built at least a 25MM business from scratch (not some ebook self-proclaimed wiz-master).
  2. Ask them how you'd start a business that generates over $1 MM from scratch -- in 3 years.

How would they respond? Something along the lines of: "Not too difficult. Focus on..." (Yeah, we'll let you in on that 'secret' in a future article.) The point? It shouldn't be overly complex/hard/crazy to build a thriving/lucrative/million-dollar business.

  • If you think it's complex, you'll confuse the freak out of yourself -- leading to a probable disaster.
  • If you think it's easy, your confident booty will scope out the easiest path to get there -- boosting your chances of succeeding like the badass we know you were meant to be.

If you're guilty of the 'it-takes-too-much-work' mindset, start reminding yourself:

"Wow, it shouldn't be so hard after all."


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Posted on April 20

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