“If you’re not a risk taker, you should get the hell out of business.”
~ Ray Kroc, McDonald’s founder
One of my business mentors is a guy called Charlie Munger. He’s Warren Buffett‘s business partner, a fellow billionaire, and one of the smartest people on the planet.
A cornerstone to his success has been looking for problems before they become problems and doing everything he can to avoid them.
His exact words: “Invert, always invert: Turn a situation or problem upside down. Look at it backward. What happens if all our plans go wrong? Where don’t we want to go, and how do you get there?
Instead of looking for success, make a list of how to fail instead – through sloth, envy, resentment, self-pity, entitlement, all the mental habits of self-defeat. Avoid these qualities and you will succeed.
Tell me where I’m going to die, that is, so I don’t go there.”
Most of the problems you’ll face in business will be internal problems.
I forget who said this, but someone once told me most businesses don’t die due to starvation – they die due to indigestion.
They make unforced errors – like mismanaging cashflow. Or hiring the wrong person. Or ignoring a customer complaint, which turns into a legal issue. Or having a lagging fulfilment process that can’t keep up with sales, etc.
All of these challenges can suck up cash very fast. And there’s a strange habit of them all showing up at once, at the most inconvenient times. This is why making predictions about what could go wrong, and then proactively fixing them is so important.
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Remember to invert, always invert.
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Anyway, today I want to talk to you about what you’re doing to feed your mind with the right information to maximise your chances of success in business.
At the end of the day, the main thing which separates you from the super wealthy is knowledge and the application of that knowledge.
Everything they do and have done to get where they are, can be learned.
Which biographies about successful entrepreneurs and business people are you reading right now?
If there’s one common “secret” I see over and over again in these biographies, it’s the willingness to put in hard, focused work. Everyone wants shortcuts, and there are some systems that can simplify and automate the selling process. However hard work is the real secret to success.
Look at people like Ray Kroc, who started with very little at the age of 52 when he built McDonald’s, a tremendous global corporation that’s still thriving years after his death.
And there’s Bill Gates. On the day he dropped out of college, he told his father that he wasn’t going back. His father said, “Son, you’ve just thrown your whole life away.” Of course, we all know the Bill Gates story didn’t turn out that way.
He worked his tail off, and you know the rest of the Microsoft story.
He was so focused at one point in 1981 that he called and told his mom that he wasn’t going to call or come over for his usual Sunday lunch for the next six months. Weeks would go by when he would barely leave his office and he wouldn’t even go home to shower for days.
There’s a book called The Secret by Rhonda Byrne that made the rounds in the self-help circle over 10 years ago. It’s main message is that you can affirm your way to success. But the truth is, success really isn’t a secret at all.
When you read books about people who have actually turned small sums of money into huge fortunes, you’ll find out they didn’t use The Secret to make themselves the successes they are today.
They didn’t just sit around and affirm their success, chant positive things, and get their minds right. All that has its place – attitude definitely plays a big role in success, there’s no question about that – but it’s hardly the major component in business success.
The most successful people all worked hard, focused constantly on what they wanted, and practiced dramatic self-discipline and sacrifice to get where they are today.
I encourage you to read the stories of other successful people, the ones that are mostly told in biographies (don’t just read autobiographies – they’re too unreliable), and you’ll find that it took a lot of work for that success to happen. They serve as models for the rest of us.
If you want to be successful at anything… business, sports, music… you do have to devote the time, energy, and effort to what you’ve chosen. One expert said it takes 10,000 hours of dedication to master something.
But here’s the thing. If you’re going to spend that much time and energy giving yourself to an endeavor, it better be something you love. Because there’s a price that has to be paid for success in anything.
That’s reality. And that’s the real secret.
If you get into it, and it’s the right thing, what you thought was work really isn’t work after all. You end up devoting a lot of hours to it, and the payoff both in financial terms and in what you become and achieve is well worth the effort that’s involved to get there.
https://i0.wp.com/easyonlinebizsolutions.com/wp-content/uploads/2018/08/The-Secret-Book-Summary.jpg?fit=600%2C200&ssl=1200600Nicky and Davehttps://easyonlinebizsolutions.com/wp-content/uploads/2017/09/EzyOnlineBizSolutions-logo-shadow-500-156-300x94.pngNicky and Dave2018-08-18 18:00:202018-12-19 14:29:16The Real Secret to Easier & Lasting Success
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