I Spoke my Wealth Into Existence Ep 662



In this episode, the host delves into the interplay between beliefs, skills, and character traits in entrepreneurship, emphasizing the transformative power of self-narratives. He shares personal anecdotes and others' experiences, illustrating how changing beliefs can catalyze business growth, as seen with his friend's fitness app and his own shift from gym ownership to a licensing model, which skyrocketed his revenue. The host underscores the necessity of aligning beliefs, skills, and character traits at each entrepreneurial level, advocating for self-reflection and storytelling as tools to reinforce positive traits and overcome limitations. He challenges the effectiveness of affirmations, proposing that making arguments against one's negative thoughts is a more potent strategy for identity and character development. The host's wife, Layla, contributes by encouraging evidence-based self-assessment, further supporting the theme that personal growth and business success are deeply interconnected.

Summary Notes

Self-Reflection and Personal Stories

  • Recognizing and affirming personal character traits through reflection on past actions.
  • The importance of storytelling in shaping self-perception and personal development.
  • Acknowledging that everyone has displayed certain traits at some point in their lives.

"And so what you have to do is you have to peel in your past and say, when did I exhibit these things? Because all of us have exhibited these character traits at some point in our life."

This quote emphasizes the process of introspection to identify instances in the past where one has demonstrated particular character traits. It suggests that personal growth starts with recognizing these traits through self-reflection.

The Power of Self-Narrative

  • The impact of self-told stories on beliefs and character.
  • Skepticism towards traditional affirmations and personal development methods.
  • Personal anecdotes as a powerful alternative to change beliefs and behaviors.

"The most powerful things that change our behavior and our character are the stories we tell ourselves."

The speaker highlights the profound effect that the stories one tells oneself have on personal behavior and character, suggesting that these narratives are more influential than traditional affirmations.

Entrepreneurship and Personal Growth

  • Entrepreneurship involves changing beliefs, increasing skill sets, and developing character traits.
  • The interplay between beliefs, skills, and character in achieving success.
  • Real-life examples illustrating the transformation through belief change.

"Entrepreneurship is about three things. It's about changing the beliefs that you have. It's about increasing the skill set that you have, and then the character traits that go along with that to make sure the skills are successful."

This quote outlines the three pillars of entrepreneurship as perceived by the speaker: evolving beliefs, enhancing skills, and cultivating character traits necessary for success.

Case Study: Fitness App Entrepreneur

  • The story of a fitness app entrepreneur who underpromoted his product due to self-doubt.
  • The realization of the app's value and subsequent success upon changing beliefs.
  • The entrepreneur's unchanged skills and character traits, highlighting the sole alteration in belief.

"He believed that his app wasn't good enough, and so he never promoted it... And when he realized that it was okay for him to promote it... he went from $20,000 a month to, like, $150,000 a month like that."

This anecdote serves as an example of how a change in belief—overcoming the notion that the app wasn't good enough—led to a significant increase in revenue, showcasing the power of belief in entrepreneurial success.

Personal Example: Transition in Business Model

  • The speaker's experience with a chain of gyms and the influence of a mentor's advice.
  • The dramatic growth following a shift in business model based on a change in belief.
  • The importance of aligning skills and character traits with new beliefs to realize potential.

"I had all these skills and I also had the character traits. I just needed, again, to change my beliefs."

The speaker shares a personal example of how a change in belief, prompted by a mentor's suggestion to switch business models, resulted in exponential growth, reinforcing the theme of belief as a catalyst for success.

The Role of Discipline and Focus

  • The necessity of discipline and focus as character traits for entrepreneurial success.
  • The potential pitfalls of lacking these traits, such as the inability to achieve success due to divided efforts.
  • The interdependence of beliefs, skills, and character traits in the entrepreneurial journey.

"If you have, for example, if I had had those skills but I didn't have the character traits of being disciplined and being focused on one thing, I would have jumped between multiple entrepreneurial endeavors and never been able to see success."

This quote discusses the hypothetical scenario where lacking discipline and focus could derail success, even with the right beliefs and skills, highlighting the importance of character traits in entrepreneurship.

Importance of Aligned Beliefs, Skills, and Character Traits

  • Success requires the alignment of beliefs, skills, and character traits.
  • Each level of entrepreneurship demands a check on all three aspects.
  • The lack of alignment in one area can be a constraint to moving up the ladder of success.

Until I had the character trait of focus, the character trait of discipline, then I would not have seen the success, right?

This quote emphasizes the importance of having specific character traits, like focus and discipline, to achieve success.

And so the next natural question is, okay, well, if I have to have aligned beliefs, skills and character traits at each level of the ladder...

This quote introduces the concept that beliefs, skills, and character traits must be aligned at each level of an entrepreneurial journey.

The Ladder Analogy for Entrepreneurial Growth

  • The ladder represents levels of entrepreneurial success.
  • Each rung signifies advancement in beliefs, skills, or character traits.
  • Removing constraints in one area can lead to rapid progression up the ladder.

And so, for example, you might have the left side built up six stories above where you're at, and you might have the right side built up ten stories from where you're at right now.

This quote describes how one might be more advanced in certain areas, like beliefs or skills, than in others.

But all of a sudden, if you change your character and that character trait development gives you three more rungs. All of a sudden you go three rungs because the constraint has been removed.

This quote illustrates how developing a character trait can remove constraints and allow for quick advancement.

Skills Development and Its Impact on Growth

  • Skills acquisition is straightforward and involves learning and practice.
  • Many marketers lack essential skills such as selling and managing a sales team.
  • Acquiring a missing skill can result in rapid business growth.

The skills are you just go buy the course, and you read the book, and you consume the content like this, and you practice, you apply, right.

This quote explains the process of acquiring new skills through courses, reading, and applying knowledge.

They don't know how to sell. They don't know how to develop a sales team. They don't know how to manage and grow a sales team.

This quote identifies a common skill deficit among marketers that hinders their ability to scale their businesses.

Personal Beliefs and Their Role in Success

  • Beliefs can be a major limiting factor.
  • Personal insecurities can impact one's belief in their ability to succeed.
  • Trust in oneself or from others can be instrumental in overcoming belief barriers.

I was fortunate because I had a ton of the skills in my skill toolbox, but I went from making nothing to tons because I had all of these rungs of this ladder already built out to a $30 million level. Except I just didn't have the beliefs.

This quote reflects on the speaker's own experience with having the necessary skills but lacking the belief in their potential to succeed.

And candidly, I think still one of my biggest issues is belief. I suffer from a lot of insecurities.

The speaker openly shares that despite their skills, personal insecurities and beliefs remain a challenge.

Support System and External Validation

  • Having someone who believes in you can be crucial for success.
  • External validation can help overcome personal doubts and insecurities.
  • Borrowing trust from others can be a stepping stone to developing self-belief.

My wife was the one who was like, you can do this. You don't have to have these gyms. You can license out the model. You can really succeed like this.

This quote highlights the role of the speaker's wife in providing belief and support, which helped the speaker trust in their own potential.

I trust in your skills and your beliefs, so, hopefully, you can borrow some of that trust, because I promise you, the world does get better when you take those leaps of faith.

The speaker offers trust to the listeners, encouraging them to take leaps of faith based on their skills and beliefs.

Evidence-Based Self-Assessment

  • Questioning the evidence behind one's self-criticism can lead to a more objective self-assessment.
  • Challenging negative beliefs with evidence can help in overcoming self-doubt.

What's the evidence? What's the evidence that you're so bad at this?

This quote from the speaker's wife encourages questioning the validity of negative self-beliefs by seeking objective evidence.

Access to Additional Resources

  • The speaker mentions the availability of a video version of the podcast with more effects, visuals, and graphs.

If you ever want to have the video version of this, which usually has more effects, more visuals, more graphs, drawn out stuff, so

This quote informs listeners that there is a video version of the podcast that includes additional resources to enhance understanding.

Personal Growth and Identity

  • The importance of examining personal narratives about oneself.
  • The fluidity of identity and the ability to change character traits.
  • The relationship between character traits and professional success.
  • The process of reinforcing positive character traits through personal storytelling.
  • The concept of using past experiences as evidence of possessing desired traits.

What I do when I identify a character trait that I lack or I identify a skill that I don't have or a belief that I don't have.

This quote highlights the speaker's practice of self-awareness, specifically identifying personal deficiencies in character traits, skills, or beliefs.

And this one, I'll just specifically talk about the character traits because I think it's really important.

The speaker emphasizes the significance of character traits, suggesting they are a critical aspect of personal development.

It's probably the one that people struggle with the most is what are the stories that you tell yourself about yourself?

The quote points to the common challenge people face regarding the internal narratives they create about who they are.

Right. But Leila and I both believe this is that your identity is fluid, and you need to be able to change your identity and your character traits based on what the business requires.

The speaker, along with Leila, believes in the malleability of identity and the necessity of adapting character traits to meet business needs.

If you want to grow, if you're not a patient person, then you need to become patient macro micro speed, macro patience.

This quote underlines the necessity of developing patience for personal growth, suggesting that patience should be applied both in the short term (micro) and long term (macro).

If you want to develop a reputation, you need to become a person of integrity, which means sometimes, short term, you have to sacrifice.

The speaker associates integrity with reputation-building and acknowledges the need for short-term sacrifices to maintain integrity.

If you want to be disciplined and have focus, then it means that you have to be able to say no.

Discipline and focus are linked to the ability to refuse certain opportunities or distractions, highlighting the importance of selectivity.

Strategy means, what do you say no to? That still looks like it makes sense on paper. That's strategy.

The quote defines strategy as the decision-making process regarding which opportunities to decline, even if they appear beneficial on the surface.

And the people who learn how to make the most money are the ones who know how to focus, and that's a character trait.

The ability to focus is identified as a character trait crucial for financial success.

And so what you have to do is you have to peel in your past and say, when did I exhibit these things?

The speaker suggests introspection into one's past to identify instances where desired character traits were demonstrated.

Because all of us have exhibited these character traits at some point in our life.

This quote posits that everyone has, at some point, displayed the character traits they wish to embody.

And then what you do is you say, I am this way, because.

The speaker introduces a method of reinforcing positive character traits by attributing them to past actions.

And so when I think to myself, I am wise, because I use the same formula that most people, and most of us, myself included, use to destroy ourselves with these insecurities, with these negative character traits that we believe we have.

The speaker uses personal storytelling to counteract insecurities and negative traits, replacing them with positive affirmations supported by evidence from past experiences.

And instead of saying an affirmation, you tell yourself the story of why what you're saying is true.

This quote emphasizes the power of narrative over simple affirmations by providing a rationale for why the positive trait is true.

You learn to argue against your own thoughts.

The process described involves challenging one's negative thoughts to foster positive character development.

And that's how you start developing this muscle, these traits that start to become a whisper and then a shout, and then they emanate from you, and you project them when you.

The quote metaphorically describes the strengthening of character traits as a muscle that grows from a whisper to a shout, ultimately becoming a natural part of one's projection to the world.

Character Traits and Self-Perception

  • Individuals have innate narratives about their personal traits.
  • The practice of self-perception can transition from active to passive.
  • Changing personal narratives about character traits can lead to self-improvement.
  • Identifying and overcoming perceived limitations in one's character is crucial.

If you are a patient person, if you are a kind person, if you are an integrous person, if you are a hardworking person, we all have these stories that we tell about ourselves.

This quote highlights that individuals have a set of beliefs about their own character traits which form part of their self-identity.

And so if you have a limitation right now on your character trait or traits, you don't feel like you are patient enough. You feel like you are too easily distracted.

The relevance of this quote is to acknowledge personal shortcomings or areas for growth in one's character traits.

The Power of Self-Argument Over Affirmations

  • Affirmations should be transformed into arguments to effectively change one's character.
  • Making daily arguments with oneself can lead to personal transformation and better decision-making.

I think instead of affirmations, if you make affirmations into arguments that you make with yourself every day, then those become things that will change who you are.

This quote suggests that affirmations alone may not be effective, but turning them into self-arguments can lead to actual change.

Impact of Personal Change on Business Growth

  • Changing oneself can have a direct impact on the growth of one's business.
  • Emotional control and storytelling can empower individuals to overcome past traumas and insecurities.
  • The speaker emphasizes the importance of not giving power to past trauma.

And if you change who you are and how you make decisions, you'll change your entire life, and you'll be able to watch your business grow as a result of who you have become.

This quote connects personal development with professional success, indicating that who one becomes influences their business outcomes.

Perception of Trauma and Emotional Regulation

  • Everyone perceives trauma differently, especially from childhood experiences.
  • Choosing not to empower trauma can lead to a stronger emotional state and control over life.
  • The speaker discusses the universality of perceived trauma and the choice to diminish its power.

I had tons of perceived trauma. And I'll say it that way because I don't even want to make it into trauma.

The speaker is explaining their personal approach to perceived trauma, choosing not to amplify it in their narrative.

Business Success Tied to Personal Identity

  • The identity and personality of a business owner can directly affect their business's success.
  • Business issues often stem from the personal character of the business owner rather than skills or beliefs.

The reason they're not successful is not because they don't have the beliefs or because they don't have the skills. It's just because of who they are.

This quote suggests that the core of business problems may lie in the personal attributes of the business owner.

Overcoming Excuses and Self-Justification

  • People often use excuses to justify their negative behaviors or traits.
  • Taking responsibility for one's actions and changing self-narratives is essential for personal growth.
  • The speaker challenges the use of excuses and emphasizes the power of "because" in persuasion and self-improvement.

We give ourselves the excuse for being impatient. We give ourselves the excuse for cheating, right?

This quote highlights the common tendency to rationalize poor behavior or character flaws with excuses.

Conclusion and Call to Action

  • The speaker concludes with encouragement for personal accountability and change.
  • A call to action is made for the audience to subscribe for more content aimed at entrepreneurs.

So anyways, that's just my two cent. I might not know anything if you found value in this hit. Subscribe I have other videos like this for entrepreneurs who are trying to scale their businesses.

The speaker wraps up their message, encouraging the audience to engage with more content if they found the advice valuable.

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