THE BACKSEAT EFFECT: It'll Ruin Your Life?Too
Here’s how I lost my ticket to being a top 1%.
I’m gonna coin it.
The Backseat Effect.
This single handedly takes a business owner from having great sales and an amazing customer base to having nothing at all.
This happens to more than 60% of businesses globally. That’s why there’s less millionaires on this planet. And even less billionaires.
Ok, let’s get straight to the point.
What is the ‘Backseat Effect’?
Imagine this, you started playing a video game, then got good at it and started understanding all mechanics. You’re slowly becoming a pro, and then what happens…
You feel like the game is too easy and you start slowing down, you stop working as hard as before.
This puts you in jeopardy.
Now you’re risking everything you’ve done to get to that point just because you’re not feeling the drive anymore. Imagine all the future rewards you’re missing out on.
Look, rewards in a game don’t really matter at all, but let’s compare this to real life.
You started a business, you scaled it to say $10,000 and you’re happy now. I mean why shouldn’t you be happy, it is a milestone after all.
What happens when you get too comfortable btw? You lose focus, that’s what happens. And once you lose focus on what you swore you’d grow and protect, you start losing it real quick.
And that my friends, is the ‘Backseat Effect’.
In simple words, it means to grow your business and then get complacent, which then results you losing all that progress.
Time for a quote!
Obtaining money is easy, the hard part is keeping it.
Both businessmen and gamblers have seen huge sums of money in their bank accounts. Who keeps the money though? I don’t need to answer that, you’re smart enough.
Another one,
Money comes in fast. If you don’t take care of it, it’ll vanish even faster.
How to avoid the ‘Backseat Effect’?
I’m glad you asked. Here’s 3 frameworks to effectively stay away from losing it all.
#1 —?Goals never die?— Have a short term goal, a long term goal and an overarching goal. Firstly, your overarching goal has to be a mammoth, if I’m being honest, keep it as?“Conquer the World”. That way you never run out of goals. Your long and short term goals should help you achieve that huge goal.
#2 —?Overarching Goal?— Having a goal which never ends is interesting, not because it doesn’t end, because it always brings in new challenges.
As a business owner, you’ve got to have the skill to keep facing new battles. That’s your work. That’s how you don’t get bored. That keeps you from getting too complacent.
领英推荐
You’ll be motivated when you know you have a goal to accomplish.
#3 —?Battle Plan?— You’ve got your goals written down, now what. Well make a plan to conquer, one at a time. Your plan has to be realistic and achievable. Have a daily timetable as well. There’s a skill in making timetables as well.
Read this article to understand timetables better —?Timetable Article
Losing ain’t an option
When your business is your source of income, then you can’t lose. Especially when you have dependents. There’s another group of people. The ones running a side hustle, or a part time business.
When you have a side hustle and want to escape the 9–5 or the Rat Race as they say it.
Once again you can’t lose. We all know that having just one source of income is highly dangerous.
The fact that you’re going to bed without enough cash in your bank account should make your blood boil.
It’s too simple to make all these excuses… why? Cuz 99% of people do it.
What the 99% do, the 1% don’t,
What the 1% does, the 99% can’t imagine doing.
Hey, is it just me or are these quotes on fire today!!!?????
Life is simple, Getting rich is simple
It’s not easy. It’s simple.
OMG, the number of people that don’t understand the difference drives me cuckoo! And I’m not kidding.
Life was always meant to be simple, humans just kept complicating it.
I’ll explain,
Identify a problem, consistently try to find a solution, present an irresistible product, and scale.
That’s all a business is.
It’s simple but the effort it takes is gigantically crazy.
I can only communicate the idea, you’ve got to implement the strategy and find what works for you.
Remember,
It’s Worth it.
BTW I’m posting on Substack as well. I’d love it if you could visit and subscribe! So that way you’ll stay updated at all times + you get a notification on your email.