In this podcast, the host discusses the detrimental belief that inherent inability prevents skill acquisition, emphasizing the importance of shifting mindsets to foster growth. He shares personal anecdotes and conversations, including one with a friend struggling with career advancement due to a perceived lack of valuable skills, to illustrate his point that skills can be learned through dedicated practice. He debunks the idea that being 'bad' at something is a fixed state, using examples like sales training and understanding business math. By highlighting his own journey from believing he was bad at math to achieving proficiency, the host encourages listeners to invest time into learning and improving, thereby overcoming self-imposed limitations and advancing in business and personal endeavors. He concludes by urging listeners to share the podcast to help others in their entrepreneurial journeys.
"No one's ever done it, and I'm going to be the first. If you can at least just believe that if someone has done it, it is therefore possible, and therefore I can do it, too, if I do the same things."
The quote underlines the speaker's pioneering spirit and the idea that belief in possibility is a prerequisite for achieving unprecedented success. It's a motivational statement that sets the tone for the rest of the discussion.
"The wealthiest people in the world see business as a game. This podcast, the game, is my attempt at documenting the lessons I've learned on my way to building acquisition.com into a billion dollar portfolio."
This quote encapsulates the speaker's perspective on business and their intention behind the podcast. It presents business as a strategic endeavor that can be learned and mastered like a game.
"And it reminded me that a lot of people struggle with this, which is they believe that they are inherently bad at things because they are not good at them."
The quote highlights a psychological barrier that many individuals face: the misconception that an initial lack of proficiency indicates a permanent inability. The speaker challenges this notion as a limiting belief.
"So I think one of the most valuable beliefs because in terms of building on success, in my opinion, first you need to develop skills, then you need to develop character traits to make sure that you do those skills."
This quote explains the speaker's philosophy on personal development and success. It asserts that belief is foundational to the acquisition of skills and the development of character traits necessary for success.
"And she was like, I'm not good at sales. I'm not a salesperson. And I was like, well, how many hours of sales training have you gone through? She was like, none."
The quote illustrates a real-life example of how the lack of training, rather than inherent ability, is often the reason for not excelling in a particular skill. The speaker uses this example to demonstrate the importance of skill acquisition for career advancement.## Investment in Skill Development
Well, none. Well, then why is it reasonable that it would be unreasonable for you to be good at this skill, given the amount of investment you've made?
The quote underscores the direct correlation between the time invested in studying a skill, like marketing, and one's proficiency in that skill. It points out the irrationality of expecting to be good at something without dedicating time to learn and practice it.
And I can see people starting to freak out because they're like, I'm not good at math, and I have to lean back or lean pressure onto that belief because one that's a belief that will literally never serve you.
The quote highlights the speaker's observation of people's anxiety towards math, particularly in the context of business. It suggests that this belief is unhelpful and needs to be challenged for individuals to progress.
And the thing is that people mistake that they are bad at math, when in reality they do not understand the concepts that create the math.
This quote clarifies that the issue is not an inherent inability to do math but a lack of understanding of the underlying business concepts that are expressed mathematically. This misconception leads to self-imposed limitations.
And so I think that for me, one of the cornerstone beliefs that has helped me a tremendous amount, I just want to share it with you, is that if someone can, therefore I can.
The quote suggests adopting a belief that anything someone else can do is also possible for oneself, provided one is willing to put in the same effort. This belief is presented as a foundation for personal growth and overcoming self-doubt.
And the nice thing about actions is that they are agnostic to your level of deservingness and skill.
The quote emphasizes that actions, such as practicing a skill, do not discriminate based on one's initial ability or perceived worthiness. It implies that consistent effort is the key to improvement and eventual success.## Personal Success and Effort
"Because most people do nothing. Most people do absolutely nothing except for deal with their emotions on a regular basis and procrastinate and give themselves reasons for why they are not successful. Besides the obvious one, which is that it is not reasonable that they would be successful given the amount of time and effort they've put in to achieving it."
This quote underscores the common lack of action and self-imposed barriers that prevent most people from achieving success. It points out that success is not a reasonable expectation if one doesn't invest the necessary time and effort.
"And so the only ask that I can ever have of you guys is that you help me spread the word so we can help more entrepreneurs make more money, feed their families, make better products, and have better experiences for their employees and customers."
The speaker requests listeners to share the podcast as a means of supporting the entrepreneurial community. By doing so, they can contribute to the success and well-being of others.
"And the only reason for this is because I had that conversation. I spoke at the mastermind where the girl talked about not understanding the math. And there's just so many repeated events like this where it's like, can you ask yourself, with reason, would it be reasonable for me to be good at this skill, given the investment I've made?"
This quote highlights the importance of reflecting on whether one's skill level is commensurate with the effort they've invested. It suggests that skill proficiency is a result of deliberate practice and investment of time.
"And the thing is, he's too young to know that he can't do things yet. And what that does is it makes him incredibly dangerous because he hasn't been slapped in the face by the world yet. And so he believes that he can accomplish anything."
This quote discusses the advantage of youthful naivety in entrepreneurship, suggesting that not knowing one's limitations can be a strength, as it allows for greater ambition and risk-taking.
"And so I've been actively trying to speak that into him. And now he's homesailing real estate right? Now he's 18 years old. Right. I love this. Right. And how did he do it? He watched YouTube videos for free. Right. And then he picked up cold calling because I was like, this is a book you need to read for cold calling. And so he just started cold calling based on what the YouTube videos said off of a free list that he found on the Internet. And he closed his first deal as 18 year old."
This quote illustrates the process of how the speaker's mentee learned and applied new skills to achieve success in real estate. It emphasizes the value of mentorship and the accessibility of learning resources.
"But what I did was I prepared him mentally by saying, like, you're going to suck at this for a very, very long time. And eventually, after doing it so many times, it will be unreasonable for you to suck. And at that point, you will be good."
The speaker highlights the importance of mental preparation for the challenges of skill development, emphasizing that persistence and repetition lead to proficiency.## Growth Mindset and Learning
"we are deficient in with that kind of concept, of, of course I am going to suck. It would not be reasonable for me to be good. But if I do these actions, it would, over time, be unreasonable for me to be bad at these things."
This quote introduces the idea that it is normal to not be good at something new and that improvement is expected with time and effort.
"And I think by doing that, you unlock a different ability to learn and by extension, grow."
The speaker suggests that accepting initial inadequacy is key to unlocking the potential to learn and grow.
"It's a belief set that I find repeated, especially in people who are smaller business owners who are getting started, et cetera."
This quote identifies a pattern where novice individuals, particularly small business owners, limit themselves with negative beliefs.
"And it drives me nuts because it's just saying that you can't do something before you've even started."
The speaker expresses frustration with the defeatist attitude that people adopt without giving themselves a chance to try and learn.
"Until I was 23, I thought I was horrible at math... I got a lot of stuff wrong for a long time, but over time, I started to get better at math because I did everything in my head."
This quote recounts the speaker's journey from believing they were bad at math to improving through persistent mental practice.
"I literally cheated my entire way through high school in math class just to get by... I studied so much harder on the math for the GMAT and I ended up doing hitting 99th percentile on it."
The speaker contrasts their previous academic dishonesty with their later dedication and success, illustrating the power of hard work and a changed mindset.
"I hope that if there's something that you want to acquire from a skill standpoint, that you will allow yourself to be reasonably bad until a point where it would be unreasonable for you to be bad given the amount of time and effort you've put into it."
The speaker encourages the audience to persevere through the initial struggle of learning a new skill with the understanding that effort over time will lead to improvement.