Hey guys,
Want to know why business is a bitch?
Great, I have been doing some work around this area for the past couple of days and here is the underlying theme that separates the winners from the losers:
The steps/road to success is always Counter-Intuitive and Not Obvious (Credit goes to Eben Pegan)
- We as humans think we get everything and that we don't need help
Here are some examples of how this concept applies: (note: I would like to see what your thoughts on #7 are, as this is the one that I myself need better clarification on)
1. We tend to focus on our needs and what we are getting (it's not obvious and its counter-intuitive to put your needs on the other person)
2. It's intuitive to convince your customer to buy your product or service (it's counter-intuitive to go up to ppl and say "what is your need?" , then create it and say, do you want it" )
3. It's intuitive to be the smart one and walk around saying "no no , this is how you do this and this goes over there" (it's counter-intuitive to let the other person be the smart/important one)
4. It's intuitive in business to persue ideas that YOU like and keep working on it (it's counter-intuitive to create an idea and then emotionally detach from it)
5. It's intuitive to consume right now (it's counter-intuitive to re-invest and allow compound int to do its trick)
6. It's intuitive to mulit-task (it's counter-intuitive to do one thing WAY better than well and outsource the rest)
7. It's intuitive to grab every opportunity (it's counter-intuitive to let all those opportunities go by and not get distracted)
8. It's intuitive to have problems upset you and get the better of your emotions (it's counter-intuitive to recognize whenever there is loss, that you get a window to look into your business system and learn about it)
I feel these are all great, however for number 7, I know that even in MJ's book he talks about, how opportunity strikes and it doesn't care if it's a bad time for you or not. (I.E. this site is just one example of what he was talking about)
I was wondering what you guys think with regards to opportunities? When do you take them vs. letting them go? If opportunity rises, do you act even if you are really busy?
Personally, I am starting to approach opportunity with this regard: I have one big business in process, if I see opportunity I weight how much time it would take me to follow through. If I could do a good job while maintaining focus on the main business I would then weigh it's opportunity cost to say developing a new skill as well. If that checks out then I might as well test it real quick.
I guess my best comparison to what I am talking about is something most of you are familiar with, so I will use this site again.
In TMFL, MJ talked about starting another business, but it was taking up too much of his time and his limos.com was suffering because of that. Therefore, he focused on his winner and dropped the other business.
Now, he also saw an opportunity with this forum, however I think the big difference was this:
This forum, is also a hub where he gets to network with other millionaires and it was always going to be a nice platform for his book release. Obviously it led to some more cash flow and he had already automated limos.com to 85%.
This is my analysis of it anyway, but of course I would love to hear some other stories from you guys.
What opportunities did you let go? Which ones did you have to take on?
Cheers,
The-Truth
Want to know why business is a bitch?
Great, I have been doing some work around this area for the past couple of days and here is the underlying theme that separates the winners from the losers:
The steps/road to success is always Counter-Intuitive and Not Obvious (Credit goes to Eben Pegan)
- We as humans think we get everything and that we don't need help
Here are some examples of how this concept applies: (note: I would like to see what your thoughts on #7 are, as this is the one that I myself need better clarification on)
1. We tend to focus on our needs and what we are getting (it's not obvious and its counter-intuitive to put your needs on the other person)
2. It's intuitive to convince your customer to buy your product or service (it's counter-intuitive to go up to ppl and say "what is your need?" , then create it and say, do you want it" )
3. It's intuitive to be the smart one and walk around saying "no no , this is how you do this and this goes over there" (it's counter-intuitive to let the other person be the smart/important one)
4. It's intuitive in business to persue ideas that YOU like and keep working on it (it's counter-intuitive to create an idea and then emotionally detach from it)
5. It's intuitive to consume right now (it's counter-intuitive to re-invest and allow compound int to do its trick)
6. It's intuitive to mulit-task (it's counter-intuitive to do one thing WAY better than well and outsource the rest)
7. It's intuitive to grab every opportunity (it's counter-intuitive to let all those opportunities go by and not get distracted)
8. It's intuitive to have problems upset you and get the better of your emotions (it's counter-intuitive to recognize whenever there is loss, that you get a window to look into your business system and learn about it)
I feel these are all great, however for number 7, I know that even in MJ's book he talks about, how opportunity strikes and it doesn't care if it's a bad time for you or not. (I.E. this site is just one example of what he was talking about)
I was wondering what you guys think with regards to opportunities? When do you take them vs. letting them go? If opportunity rises, do you act even if you are really busy?
Personally, I am starting to approach opportunity with this regard: I have one big business in process, if I see opportunity I weight how much time it would take me to follow through. If I could do a good job while maintaining focus on the main business I would then weigh it's opportunity cost to say developing a new skill as well. If that checks out then I might as well test it real quick.
I guess my best comparison to what I am talking about is something most of you are familiar with, so I will use this site again.
In TMFL, MJ talked about starting another business, but it was taking up too much of his time and his limos.com was suffering because of that. Therefore, he focused on his winner and dropped the other business.
Now, he also saw an opportunity with this forum, however I think the big difference was this:
This forum, is also a hub where he gets to network with other millionaires and it was always going to be a nice platform for his book release. Obviously it led to some more cash flow and he had already automated limos.com to 85%.
This is my analysis of it anyway, but of course I would love to hear some other stories from you guys.
What opportunities did you let go? Which ones did you have to take on?
Cheers,
The-Truth
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