Read on Twitter
5 tricks your brain plays on you that are keeping you from getting rich
(and how to fight them):
(and how to fight them):
1) Dunning-Kruger Effect
People who know very little about something tend to think they know a lot about that something
Rule of thumb:
The moment you think you know a lot about your market, that's the moment you should be most careful because your mind is playing tricks on you
People who know very little about something tend to think they know a lot about that something
Rule of thumb:
The moment you think you know a lot about your market, that's the moment you should be most careful because your mind is playing tricks on you
2) Confirmation Bias
You tend to see what you want to see.
Two people could be looking at the same situation and think the opposite things.
This is why it's important to both know you're vulnerable and to have a friend that calls you on your shit
You tend to see what you want to see.
Two people could be looking at the same situation and think the opposite things.
This is why it's important to both know you're vulnerable and to have a friend that calls you on your shit
3) Loss Aversion
Losing $100 is more painful than making $100.
The key here is to zoom out and think "where will I be in 5 years if I keep make this decision?"
Zooming out gets rid of most problems
Losing $100 is more painful than making $100.
The key here is to zoom out and think "where will I be in 5 years if I keep make this decision?"
Zooming out gets rid of most problems
4) Shiny Object Syndrome
We all experienced this hard during 2021 with NFTs and Crypto
The only option here is to just know that one day it will all get you outsized returns
But you have to stick at it https://twitter.com/visualizevalue/status/1339931814702555138?s=20&t=W-anDdpnddPyXUdOnLpeqw
We all experienced this hard during 2021 with NFTs and Crypto
The only option here is to just know that one day it will all get you outsized returns
But you have to stick at it https://twitter.com/visualizevalue/status/1339931814702555138?s=20&t=W-anDdpnddPyXUdOnLpeqw
5) Curse of Knowledge
When you know something you assume everyone does as well.
This is especially harmful to sales.
Focus on ONE thing that your product does. And make your pitch around that. Bite your tongue when you feel tempted to rant about bells and whistles.
When you know something you assume everyone does as well.
This is especially harmful to sales.
Focus on ONE thing that your product does. And make your pitch around that. Bite your tongue when you feel tempted to rant about bells and whistles.
I learned this with my two companies: UpLead and Signaturely
UpLead went from 17 different things to "we're gonna make you money"
Signaturely went from 10 different things to "we're gonna save you time"
Find ONE thing. Then stick with it.
UpLead went from 17 different things to "we're gonna make you money"
Signaturely went from 10 different things to "we're gonna save you time"
Find ONE thing. Then stick with it.
Enjoyed this thread?
Then you'll love what I have in store for you over the next few months.
I've been building businesses for the last decade and now I'm sharing everything I've learned on Twitter.
Follow me for more,
Will.
Then you'll love what I have in store for you over the next few months.
I've been building businesses for the last decade and now I'm sharing everything I've learned on Twitter.
Follow me for more,
Will.
