My 2 Cents on Mel Abraham’s “Entrepreneurial Mind Traps”

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Mel Abraham’s book and online course, “The Entrepreneur’s Solution,” are full of excellent insights and I highly recommend them both.  This blog will primarily focus on my 2 cents on week two of his online course.  All quotes in this text are from the course.

“Anticipation is your friend.  Anticipate what could happen and create options that will move you forward.”  It is sometimes necessary to take a leap of faith.  But make sure you bring a parachute, when possible, just in case you’re jumping off a cliff.  In most situations there are a number of different predictable outcomes that can happen when you decide to do something.  Know what the possible outcomes are and make plans specific to each possible outcome.

“Don’t have a destination Plan B, only have one destination.  But have multiple plans or ways to get there.”  There is more than one way to our destination, goal or outcome.  Create multiple business plans.  Obstacles will show up. Prepare yourself with multiple options to overcome the obstacle.  “Be committed to the outcome but flexible with the path.”  Know where you’re headed and be committed to getting there or dying in the attempt.  But do not be stubborn with the path to get there.  Insanity is doing the same thing over and over and expecting a different result.  Tweak the approach and try again.  Do not give up because often you are only a few degrees off course and small adjustments will lead you to success.  Learn from your mistakes and make a new mistake next time.  There are only so many new mistakes you can make before you find success.  Just don’t make the same mistake twice.  Go into situations knowing that if it doesn’t workout you still have five other approaches that could work.  This knowing comes from planning ahead and anticipating possible outcomes and courses of action based on those outcomes

“What’s your why? It has to be more than money.”  When the going gets tough, what is going to motivate you to keep going?  When doubts of financial success creep in, what is going to push you to see your commitment through?  When you feel you are nearing exhaustion, money won’t be enough to push you.  Find something or someone you are willing to die for.  Whether it be a family member or the city you’re from.  Fight for something.  For me it is my daughter and my siblings.  I cannot give up because those close to me are watching me even if it feels like they are not at times.  Everyone has something they can fight for if they look for it.  Find your motivation and use it to push yourself in times of doubt or complacency.

“Fear –> redirect focus to present –> leads to passion.”                                              The cave that you are most afraid to enter is the same cave that holds your treasure.  Stepping into your fear in the present moment, repeatedly, is the only way to overcome your fears.  You must do what you fear to do in order to grow.  Fear is only an illusion.  It is a lie. It isn’t real no matter how much it feels real.  The only way to see how far you can truly go is to keep testing your limits.  It is your destiny to overcome what you most fear by stepping into your fear.  Truly, the only thing to fear is fear itself.  This means that whatever you are afraid to do should not be the basis of your fear.  Your fear should be not reaching your potential because of fear.  You should be afraid of fear keeping you in mediocrity.  Attack your fear with courageous action. This is easier said than done, yet it is not impossible.  It is completely within your capability to do that which you are afraid to do. Do that which you are afraid to do repeatedly, otherwise you will look back on your life with regret knowing that you were capable of so much more but you let an illusion hold you back.  You can do it.  The secret is doing it!

“Complacency –> redirect focus to engagement –> leads to positive expectation.”    Engage yourself when you become complacent.  Complacency kills.  It is a roadblock to reaching your full potential.  A roadblock that you can overcome.  Look to your why and realize that you have more to do.  You have to keep pushing.  You are better than what you have portrayed so far.  Engage yourself in your passions.  Take the next step and use your why to motivate yourself to give it everything you’ve got.

“Blame –> redirect focus to responsibility –> leads to possibilities”                                   Blaming and complaining is a waste of time and energy.  Time is your most valuable asset.  Don’t waste it blaming others for hardships in your life.  Your life is the result of choices YOU made.  Learn from every setback and make better choices based on those lessons.  The more responsibility you take the more freedom you have.  When you realize that you are 100% responsible for the quality of your life, it opens the door to infinite possibilities.  You are able to see that you dictate your reality, and nothing anyone else says or does can take away from that freedom you have.  Own your life so that you may create the life you desire.

“Indecision –> redirect focus to action –> leads to progress.”    Opportunities reveal themselves after you have taken action.                                                                        “Perfection is the lowest standard. Go for excellence.”  When you need to make everything perfect, you lose.  If you cannot act until it is the perfect time, you will never act.  Perfectionism is something I personally have struggled with and it has cost me many opportunities and much precious time.  Time is our most valuable asset and waiting for everything to be perfect is a big fat waste of that asset.  Do not wait for things to be perfect, act.  Hold yourself to a standard of excellence but let go of perfection lest you get stuck in the drought of inaction.

Ask yourself, “If I sit here in this stew of procrastination, what is it gonna look like 5 years from now?”  “Imagine the result of inaction 5 years from now.” “What’s the worst that can happen if I make a decision?”  Napolean Hill said that indecisiveness and procrastination go hand in hand as two of the major leading causes of failure in life.  Indecisiveness is something that I personally have struggled with and I have suffered much unnecessary pain when I make the choice to procrastinate on making a choice.  To make a decision is to be alive.  Indecisiveness is death.  If 5 years ago I had the choice to go to college or to start a business and I allowed myself to sit in indecisiveness, I will have effectively wasted 5 years of my life.  5 year’s worth of my most valuable asset.  It would be better if I had burned 1 million dollars into rubbish.  On the other hand if I had chose to go to college, I could have graduated and be one year into starting a business.  Or I could have chosen to start a business and be turning a serious profit.  I could have done both at the same time.  Indecisiveness must be treated as the archenemy.  Attack it with decision.  Procrastination wants to steal your dreams, rob your soul, and send you to your grave with nothing but regrets.  Kill that bastard with one swift blow of decisive action.

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