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Entrepreneurs, we’re a funny bunch, aren’t we? We like the shiny objects. We buy a phone the following year, it still makes the same phone calls, still connects to the same internet, maybe has a little bit of a prettier camera, but there’s never marginally or massive difference between the year before yet we still want it because it’s new. As entrepreneurs, we want the shiny objects. We want the next best thing, because it’s the next best thing. Quite often, we end up getting it and after a few minutes going, “It does the same job as the last one I had, but it’s costing 200 bucks more.” If you’re lucky. May cost you thousands of dollars more.
But as entrepreneurs, that’s what we do. We are shiny object syndrome. We sit there and just go, “Squirrel,” and we’re gone. Our attention is placed wherever the shiny object is. Now I know that. And I, over the years have spent money on stuff that I’ve looked at and gone, “Why did I spend money on that?” So I found a way of correcting or helping crutch that issue. And the way that I do it is I say yes, and I buy everything, mentally. Not financially. So if I see something that’s shiny and has got my attention, I’ll go, “I’m having that. I’m buying it. Yes. I’m allowed.” We know full well, that if we turn around to each other and go, “Hey, you can’t buy that. You’re not allowed to buy that. I refuse. You are banned from buying that.” How many seconds before we bought it?
You see, no one’s going to tell us what to do because we’re entrepreneurs, we do our own stuff, but usually we’re our own worst enemy. So what I did to actually get myself over this hump is I in my head go, “I like that. I’m buying it. No one’s telling me any different. I’ll be picking that up next week.” Once you’ve actually decided you’re buying with it, you start mentally living with it. What would it be like to have that bigger TV? What would it be like to have that faster motorcycle? What would it be like to have that new pair of shoes or something like that? And half the time you go, “It wouldn’t be much different, it won’t be any difference at all. So what’s the point?” And you talk your way out of it.
That’s a good way of actually saving money. It’s a good way of saving yourself stress and headache. Another way to look at this issue that we have, this virus, this illness that most entrepreneurs have is to ask yourself, if it burned down, would you buy it again? If you look at everything in your office, if you look at the subscriptions you’ve got, if you look at the clothing you’ve got in your wardrobe and you asked yourself if that got turned off, if that got burned down, if that got stolen, would I buy that again? Would I buy that TV again? Would I buy that audio again? Would I buy that watch again? Would I subscribe to that service? If it burnt down would I buy it again?
If the answer’s no, you already know the answer. So understand your weaknesses. As entrepreneurs, knowing what you’re bad at is sometimes more powerful than focusing on what you’re good at. It’s those little things that you really shouldn’t be doing that catch you up.
That’s a short and sharp one, but I want you to run out there. I want you to maximize your life and you can only do it by working with the things that are most impactful in it.