One Crippling Belief That Breaks Entrepreneurs

Is it just me, or is the “do it just for the money” thing ridiculously overrated?

Sure, there’s a certain “je ne sais quoi” about those Silicon Valley entrepreneurs who claim to be inspired by a haphazard idea… only to go off and sell their company for billions.

But as I revealed in the Insiders’ Club Bonus PresentationThe Core Profit Spectrum, it appears their success is deeply rooted into something larger.

You see, on the surface, the dream of lining our pockets with cash and doing away with all our financial worries really gets us excited.

After all, while the true purpose of business must be to deliver a significantly greater advantage or benefit to our customer – the ultimate goal is to make a profit (for-profit businesses are not to be confused with charity).

Like many entrepreneurs, I set out as a 20-something entrepreneur with the mantra: “I’ll shovel shit if it makes me a million dollars.”

Well, be careful what you wish for.

During one episode of Undercover Boss, Jim Rogers, CEO of KOA Campgrounds, visited a franchisee who felt so overworked and tired he said (and I paraphrase):

“If you offered me a $1.00 to sell you back my campground last year, I would have taken it.”

Fortunately for Jim, it appears the franchisee reignited his passion and is fiercely committed to having the #1 KOA campground in America.

As for me – fortunately and unfortunately – my mantra also came true.

Sure, I achieved my 7-figure goal – but in turn, I admitted myself into the emergency room for stress, nearly got a divorce, couldn’t sleep, and was hitting rock bottom emotionally (and I mean rock bottom).

What did I do wrong?

I started that particular business for all the wrong reasons – I did it only for the money.

And just two and a half years into the business, I wanted to give the whole thing away and be done with it.

This is So Important: 

After much reflection, I realized I was trying to squeeze a square peg into a round hole.

You see, to an artist – it doesn’t matter if they are in real estate development or a commodity trader – everything looks like art.

We all walk around with “rose colored glasses” – only our glasses are a by-product of our values.

Your values are the gravitational pull naturally driving your focus, primary interests, and motivations.

If I follow you into a Barnes & Nobles, what section will you go to first? The business section? Real estate section? Motherhood section? Which one?

If I look at the websites you visit on your free time, what common theme would I find?

If we were to come together for a conversation at 3:00am, after you just landed from a 6-hour flight, completely exhausted – and I brought up just one particular topic which would completely energize you, what would it be?

What do you like talking about most?

Your answers to the above questions represent a certain theme.

As for me, my theme was “growing businesses” – and at that moment, I changed my role inside that company to see what I needed to do to keep myself in the role of “thinking strategically” for the growth of the business. Hiring people to satisfy the product/service side of the company was sucking the energy out of me.

The point here is to build and maintain a competitive advantage – to achieve breakthroughs in innovation and opportunity – and to do this, you’ve got to play your best hand with all the odds in your favor.

Hope this helps.

In your corner,

Charlie

P.S. If you found this conversation helpful, you’ll love the bonus presentation called The Core Profit Spectrum I’m give you as one of the many benefits of becoming an Insiders’ Club Member. Join while memberships are available.

 

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