Why Positive Thinking Alone is SH*T - Millionaire Mindset Ep. 13

Summary

In this video, the speaker emphasizes the importance of pragmatic thinking in business. They discuss the inevitability of setbacks, referencing Murphy's Law and personal experiences with failure and betrayal. The core message is about anticipating problems, being prepared for the worst, and having backup plans. The speaker shares that preparation and a proactive mindset are essential for success, especially when facing business challenges. Through anecdotes and direct advice, they encourage entrepreneurs to learn from past mistakes, stay resilient, and think several steps ahead to avoid common pitfalls in their ventures.

Takeaways

• 😀 Wealth Principle #12: Think pragmatically, not idealistically. Be prepared for setbacks and unexpected challenges.
• 😀 Murphy's Law: Whatever can go wrong will go wrong, and usually at the worst possible time. Be prepared for it.
• 😀 Negative preparation is crucial: Anticipate potential problems before they arise rather than relying on positive thinking alone.
• 😀 There are four types of people: 1) Those who make things happen, 2) Those who watch things happen, 3) Those who wonder what happened, and 4) Those who anticipate what may happen and act before it does.
• 😀 Being proactive in identifying potential risks and challenges is essential for success in business and life.
• 😀 Regularly ask yourself: 'What could go wrong?', 'What don’t I know?', and 'What don’t I see?' These questions help prepare for the unexpected.
• 😀 Prepare for disaster scenarios in life and business: Have backup plans and be ready to pivot when necessary.
• 😀 It's crucial to think ahead, as disasters may not be immediate but can happen at any time. Always be ready with an exit or backup plan.
• 😀 The importance of resilience: In business, expect challenges such as competition, legal issues, and betrayal. It’s about how you respond to these setbacks that matters.
• 😀 True preparedness means having contingency plans for both personal and business issues, from natural disasters to unexpected economic changes.

Q & A

What does 'thinking pragmatically' mean in the context of the millionaire mindset?

Thinking pragmatically means focusing on realistic solutions and anticipating potential problems rather than relying on idealistic or overly optimistic views. It involves preparing for setbacks and challenges that may arise in business or life.

How does the speaker describe 'Murphy's Law' and its relevance to success?

Murphy's Law states that 'whatever can go wrong, will go wrong,' often at the worst possible time. The speaker highlights its importance by emphasizing that being aware of this reality helps you prepare for unexpected challenges, ensuring you're not caught off guard when things go wrong.

What are the four types of people the speaker mentions, and which one should you aim to be?

The four types of people are: 1) those who make things happen, 2) those who watch things happen, 3) those who wonder what happened, and 4) those who anticipate what may happen and act before it does. The speaker advises aiming to be the fourth type — those who proactively anticipate challenges and act accordingly.

Why does the speaker recommend preparing for negative outcomes rather than relying solely on positive thinking?

The speaker believes that negative preparation helps you stay ready for setbacks and unforeseen challenges, rather than assuming everything will go perfectly. This approach helps you manage risks effectively and act decisively when things go wrong.

How does the speaker suggest preparing for potential business setbacks?

The speaker suggests thinking ahead about possible risks, such as losing key employees, competitors copying your products, or facing customer preference changes. Having contingency plans and being ready for adversity helps you navigate these challenges successfully.

What personal story does the speaker share to illustrate the importance of pragmatism?

The speaker shares a story about being betrayed by a mentee, despite helping him succeed in business. This story highlights the need to prepare for the unexpected, even when you’ve invested significant time and effort into someone else’s success.

What does the speaker mean by 'negative preparation'?

'Negative preparation' refers to preparing for worst-case scenarios, such as potential failures or setbacks, so that you're not caught off guard when they occur. It’s a way of ensuring you have a plan to deal with adversity.

Why does the speaker emphasize the importance of thinking a few steps ahead?

Thinking ahead helps you anticipate potential problems and prepare for them before they become critical. The speaker uses examples like having backup plans in place for potential disasters or business disruptions, so you can stay ahead of challenges.

What advice does the speaker give regarding buying property in Richmond, British Columbia?

The speaker advises against buying property in Richmond, BC, due to the risk of an earthquake and the city being below sea level. This serves as an example of being pragmatic — acknowledging risks and making decisions based on realistic assessments rather than idealism.

What is the overall message the speaker conveys about success and preparedness?

The speaker's message is that success requires pragmatism, preparation, and resilience. It's important to anticipate potential failures and have contingency plans in place. By doing so, you can navigate challenges more effectively and increase your chances of long-term success.