We’re wired backwards for success in business and money. There’s something very fundamental that we do not understand about money, success and business. Despite the plethora of books that continue to be published on these topics the fundamentals continue to elude us.
This topic got me to really thinking after I heard an 8 figure income speak on this topic. He went on to say that we have psychological mechanisms that prevent us from succeeding in business and with money. In fact, it is proven that we don’t even know how to make proper decisions regarding business and money.
Just look at the large failure rate of businesses in this country. How about the unprecedented foreclosure rate? It’s estimated that we will easily hit the 3 million dollar mark in 2009. What about the lack of savings? Have you considered the work for sixty years so you can get a watch plan? Would it even be fair to say that we even lack the skills necessary to become debt free?
How many people do you know right now that are near retirement age but will still have to work after they retire to supplement their income? How many people do you know that are paying into a government fund (social security) that is at or near becoming bankrupt? How many people do you know right now that if you needed to borrow $1,000 from them it wouldn’t cripple their bank account?
We are all about living in the moment. Delayed gratification is as unpopular as the school bully. We know little about discipline and long-term planning. We know little about choosing the right business model for our businesses. We know little about marketing and sales. We know little about customer service and the life time value of a customer. We know little about savings and investing. Perhaps a more accurate statement is that “we know about it” but “we don’t know it.” Knowing implies action moving in that direction.
That’s my spin on it.
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