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:
- Poor kid Pappy who works his butt off feeding his family.
- 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?
- Pappy would grow up generating a decent $50K/year working 100-hour work weeks.
- 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
- Take any typical entrepreneur who's built at least a 25MM business from scratch (not some ebook self-proclaimed wiz-master).
- 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."
Posted on April 19
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