❌ How to avoid these 6 disastrous pitfalls in business.

(4 min read) 3 Concepts, 2 Frameworks, 1 Proverb Pic

Author

Erick Vargas
March 26, 2023

Happy Sunday! This is the Christian Entrepreneur, the weekly newsletter that helps Christian entrepreneurs launch their solo careers like the prince of pop Justin Timberlake, and avoid disastrous mistakes. Don't buy MySpace like he did. 🫣 🫣 🫣

Let's dive into this week's email so that you do not have to Cry Me A River 🎶

What we got for you in this week's email:

  • Don’t get distracted by shiny object syndrome

  • Don’t let “learning” slow you down

  • The #1 thing holding us back

  • 1 Proverb Pic and much more!

3 Growth concepts

Concept #1

Do more of what’s working. Ignore the rest.

Alex Hormozi

My Takeaway: People get distracted by shiny object syndrome. Shiny object syndrome (SOS) is a continual state of distraction brought on by an ongoing belief that there is something new worth pursuing. In business, this trait can be downright disruptive— and not in a good way. Instead, the important thing is to look at what is working and try to double that. For example, in my software business, our number one marketing channel is our integration partnerships. It is very tempting to look to social media or other kinds of advertising to see if we can make that work. But instead, a lot of problems would be solved if we would adjust to get in front of our partner’s customers twice as often as we do now. And it's much easier than trying to figure something new out. Most people try new things because they are bored of doing the same thing. That is the breeding ground for shiny object syndrome.

Concept #2

Ultimate productivity hack: learn by doing

Sveta Bay

My Takeaway: If you want to double your rate of learning, then start doing. Most people's learning process looks like this: Learn, do, learn. If you start by doing and trust the mental map that you already have in your head, your learning will look like this: Do, learn, do. You just doubled your doing and learning in the real world. I believe most people are competent enough at whatever they’re doing just to get started. The learning just makes you question yourself and slows you down from doing. You will learn more in your first 100 sales calls than you will learn by reading any book on sales. Then after you have done your 100 sales calls, you will have the context to actually apply the things in the books.

Concept #3

There’s somebody who’s had it worse and done better.

Unknown

My Takeaway: There is a guy at my CrossFit with one leg and a crippled arm from a car accident. He demolishes me in the workouts. During the workout, when I want to give up, I look over at him and think to myself, “what is my excuse?” Most things that hold us back, hold us back because we allow them to.

2 Personal frameworks

1. Intensity > Strategy

I am starting to hate the word strategy. Most strategy meetings don't produce anything strategic. And “the strategy” changes at the next curve ball that is thrown your way. Who could have strategized for COVID? One-year strategies are helpful in planning what needs to be accomplished every quarter. But other than that, the best strategy is to turn up the intensity. Rather than doing something different, why not just do the same thing with double the intensity? if you have a marketing channel that is working, double it. If you have an employee that is doing great, give them more responsibility rather than hiring a new person. If you can do 10 squats at 135 pounds, do 20. That’s how you’ll see growth.

2. Embrace criticism before people stop telling you the truth about yourself, and you live in your own little world.

Leadership creates a bubble. It insulates you from reality. People are afraid to tell leaders the truth. So, whenever you get criticism, it is gold. Even if it's 1% correct. Whenever I am trying to get feedback from our users, I beg them not to be nice because that's not helpful to me. I want to know the real raw and dirty truth. That is solid ground to build on. The most successful people are able to see reality better than others and then do something about it.

1 Proverb Pic

A good name is more desirable than great riches; to be esteemed is better than silver or gold. Proverbs 22:1

My takeaway: This proverb is about the value of your reputation. Your reputation is about how you deal with people. A good reputation is more desirable than riches because your reputation provides all that money can provide and more. If you lose your money, your reputation can help you rebuild what you lost. If you lose your reputation, money cannot rebuild that.

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Entrepnueship is creating as God creates—something out of nothing. Thanks for being a part of my journey and this community!

❤️ Erick Vargas

P.S. I want to hear from you. Reply and share with me what you are building.

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