Entrepreneurs who make a lot of money defy norms whilst those who are content with average money conform to them.
The choice is yours.
Take a listen to this week’s podcast
Transcript:
Most of us can’t understand why seemingly good businesses go under.
They employ smart, dedicated people and they have a strong track record in the industry. So, what goes wrong?
Industry norms are often to blame.
Industry norms are often based on a faulty premise, not facts.
It is easier to accept unproven strategies because they seem to make sense.
When you first get into a business it is normal to model it on what others are doing. Like transferring to a new high school. You spend your first few weeks looking around to see how things are done. What do the cool kids do? How do I conform in order to be accepted?
It is no different in business
The majority is always wrong.
In business, conforming to industry norm’s guarantees – average results.
Industry norms by their very nature are based on the average, the median, what everybody else is doing. But that doesn’t mean they are right or that those results are good enough for what you can achieve with your business.
Sometimes it is better to start a new business category, where norms don’t exist.
Make your own mark and stamp out your territory in business.
Once looked upon as a maverick, you start to develop a position of leadership with money and success mounting. You become an overnight sensation or just plain lucky- no one really knows how it happened but keep amplifying your uniqueness and the customers will flock to you because they appreciate differences from what’s common today.
Entrepreneurs who make a lot of money defy norms whilst those who are content with average money conform to them.
The choice is yours.
