EP028: Why Business Is Simple But People Are Complicated

After last weeks episode, I thought to myself in frustration – why aren’t people taking massive action? In all fairness, I am not there to see you and I don’t want to judge what you do with your time after listening to an instructional video, a course you may have taken or a podcast you have listened to.

However, from what I’ve learned about business psychology and more importantly, human psychology, over 95% of us will not take action with the knowledge we have learned. Why? For all sorts of reasons but the reasons are more internal than anything else.

You see — business is like a computer program — all there are is 1s and 0s. In other words, business is a completely rational and logical process. However, some people are irrational and illogical and this is why business is simple but people are complicated.

Let me elaborate some more by giving you a few examples:

You don’t validate your business idea

  • All new business ideas that have not been invented yet must be validated first.
  • There are a ton of ways to validate your business idea.
  • You can validate your business on Reddit, on forums, by using a survey or using survey monkey

You Jump from one idea to the next

  • As a result of not validating your business idea, you jump from one idea to the next and as a result, your self esteem and your confidence begin to take a hit.
  • As Entrepreneurs, we’re problem solvers by nature. By validating your idea, you’re simply solving a problem that exists but has not been solved yet.
  • Take any business that is viable and profitable and you will notice that in some way, it solves a problem someone or a group of people are having.
  • The reason why you’re jumping from one idea to the next is not because your idea sucks but because not enough people are ready and willing to pay for your product or service before you release it.

You don’t believe in yourself and you have low self-esteem

  • What is one way to increase your confidence in something? Its to do something you’re terrified of doing and surviving it.
  • When you constantly challenge and push yourself to do things you’re afraid of, you not only realize your potential but you also gain a few points of confidence and if it continues, your self esteem will rise with it.
  • The trick is to start something — whatever it may be that you’re afraid of doing, then do it again and again.

There is not a strong enough why

  • If you put money first, you will ultimately fail.
  • Your why must be very strong — is it to solve a problem or help out as many people as possible?
  • Or is it to make a lot of money? As long as your reason is more than just yourself, then your why is strong enough.
  • Finally — how thirsty and hungry are you for success? Its all about the drive, the madness that we have when starting a venture. If  you don’t wake up every day feeling excited about that new business idea or the business you’re currently in, it may not last too long.
  • Chances are, you’ve been in business for 4-5 years — in that case, you may be bored but one way of alleviating boredom is to continuously innovate and make things better.
  • Never become comfortable — always stay thirsty for more.

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