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The strategy myth is responsible for the failure of most businesses according to Tony Robbins in his White Paper, Mindset Over Marketing. Unfortunately, most would be entrepreneurs are doomed to fail because they do not truly understand what it takes to be successful. They follow conventional thinking and place their trust in the strategy myth, he says.
The strategy myth is based on the idea that the basics of business is a killer product, a great target market, and a well written business plan. This will not create lasting success says Tony, the success guru. While strategy is necessary, business owners first must establish the true foundation of entrepreneurial success; vision, passion, and mindset.
Anthony Robbins is a leadership and peak performance expert and he applies the 80/20 rule to the study of success. He states that in almost every circumstance, 80 percent of success is due to psychology-mindset, beliefs, and emotions-and only 20 percent is due to strategy or action.
See, I told you Tony Robbins agrees with me. This is something I harp on about all the time. Mindset, mindset, mindset. Tony and I do not come at this from exactly the same perspective, though. I've never heard him speak about the Law of Attraction, and I'm not sure if he subscribes to it or not.
Whether you believe in the LOA or not, like I do, one thing is certain. Anyone who makes a study of success would have to agree that mindset is an important factor in success, no matter what the exact reason is.
If that is the case then, why do so few business people actually place much emphasis on thinking or give it any serious consideration? Perhaps because since the advent of the Scientific Age, we have based our beliefs on evidence, on the concrete, on what we can see and touch. Mindset or thinking is somewhat ephemeral. It can not be seen or evaluated and it is hard to define.
Mindset is an internal practice and education and particularly business education and indeed all forms of knowledge are external forms like information or knowledge. We can control and evaluate external practices like balance sheets, business plans and strategies. How do we teach and evaluate thinking? How can we test beliefs and grade accordingly? The truth is we can not because our understanding of mindset is still largely theoretical.
As a High School teacher, I was appalled at the lack of interest in thinking as a subject even among the teachers, and I was also appalled at the initial results my students attained with the traditional information based teaching that I had been taught to apply.
Being the obsessive and (in those days) perfectionistic type, I had to come up with a method that would achieve better results. Unfortunately, most of my English and Social Science students just did not 'get' how to evaluate a topic, structure a response and write an effective essay, something that I could do easily. So, I asked myself, 'What process does my brain go through in order to achieve this task successfully?'
I quickly realised that if I taught my students how to think then they had the tools not only to write essays, but to understand the issues involved in any decision making activity. The results were staggering and the improvement in performance attracted the attention of the administration. Long story, but were my attempts to teach the teachers this process accepted and integrated into the school curriculum? Of course not, because Bertrand Russell was right when he said, 'Most people would rather die than think,' and that includes teachers.
As more and more people move into business and away from the security of the job market, it will become even more crucial for the study of business to include the teaching of thinking as a legitimate area of study.
Until that time, I will continue to harp on about mindset, knowing that I am in good company with my mate Tony Robbins.
How much time and money do you invest in taking control of your mindset and learning to think like a true entrepreneur?
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Source by Madonna Robinson