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Beliefs play a crucial role in determining our levels of success. The speaker recounts personal experiences where changing beliefs led to significant growth. For example, a friend who believed his fitness app wasn't good enough saw a surge in revenue after realizing it was okay to promote it. Another example is the speaker's transition from running gyms to the licensing business, resulting in exponential growth. The speaker emphasizes the need to align beliefs, skills, and character traits for success at each level of entrepreneurship.