The 5th Most Deadly Cause of Failure
Setting the stage: Through my work, I have identified and categorized the biggest causes that are holding people back. There are five insidious ones – the ones I see repeated the most often and holding people back the most. We’re exploring them, one each day for five days.
The 5th Most Deadly Cause of Failure…
The 5th most deadly cause of failure is one that entrepreneurs are particularly susceptible to. The most elegant way I can describe it is:
The Inability to Make the Main Thing, the Main Thing
Let me give you both a micro and a macro example. Start with the micro.
Did you see the interview Joe Rogan did with Elon Musk on his podcast? Brilliant insights provided. But what were most people were talking about? The fact that Elon was toking up during the interview. That’s like getting invited to an orgy and complaining about the guacamole dip.
People chase squirrels instead of being focused on what’s important. All I need to demonstrate this is a glance at my Twitter feed. I can find post after post about “Emmy snubs,” “the 7 biggest surprises from the Emmys,” and “Emmys Red Carpet.” Seriously? I love me some Game of Thrones and Westworld, but I wasn’t watching the Emmys last night; I was watching the live SpaceX webcast. You can take 30 seconds and see if your favorites won. Or you can even watch the broadcast if you like that sort of thing. We all need diversions and entertainment. But there are people who are spending four hours still today, analyzing who wore what designer, instead of moving closer to their dreams.
To be successful, you set aside time for relaxation and revitalization, and you block off “game time,” which is when you’re working towards your goal. And when you’re in game time, you have to KILL DISTRACTIONS.
Many of the people who fail to achieve high-level success are the busiest people. They’re busy all day! But they’re busy reacting to the email bell, SMS messages, and other people’s emergencies. Successful achievers know how to block off their calendar, become unavailable, and focus on rainmaker activities.
OK, let’s look at the macro…
Some of you know one of my goals is to become a billionaire. And one of the benchmark goals along the way was building a $300 Million business. And because I was impatient to do that, I was bouncing around everywhere, looking for lucrative opportunities.
And you know what?
There are millions of lucrative opportunities out there. Everywhere you look, if you’re looking with the right perspective. You simply look for situations where you can add, value, solve problems, or foresee opportunities.
In my case, I could see about 300 ways I could make a million dollars. So I jumped into as many as I could, figuring the cumulative effect would get me to my goal. Big mistake. Because if you try to do 300 things to make a million bucks each, you don’t make $300 million. You don’t even make a million. Because you’re too distracted. I realized that in my case (and probably yours), there are only a few possibilities that could take you to the $300 million level. You need laser focus, dominating your niche and building a strong market share, before you start to diversify.
As I said, this is particularly an issue for entrepreneurs. We have “blind, hungry dog in a meat locker” syndrome.
CLUE: If you have a “holding company,” and you’re not doing at least $100 million in revenue, you’re getting distracted too early.
Here’s the Key…
When you want to make the main thing the main thing – remember the “main thing” has to be about your customer or clients. Too many people focus on what they want, not what their market is looking for.
Wrong question: How can I make more money?
How can I solve a problem? How can I add value to a process? What possibilities might my customers want in the future, that they aren’t aware of yet?
Want to avoid the 5th most deadly cause of failure? Know what’s important to your clients and customers. Know the rainmaker activities that take you closer to your goal. Then kill distractions and focus.
I have categorized these five causes of failure, based on my work coaching with some of the most brilliant people in the world through consulting and my Breakthrough U coaching program. Due to demand, I am opening up five additional spaces. If you want to play in that sandbox, act quickly.
In tomorrow’s post, we’ll explore the 4th deadliest cause of failure. And I’m betting it’s going to surprise you.
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