The Sweaty Startup #7 The secret to gaining unstoppable momentum
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Dec 14, 2018 Dive into the significance of momentum in both life and business! Discover how delaying gratification can lead to long-term success, supported by clever insights like the Stanford marshmallow test. Learn why adding value upfront is crucial, prioritizing brand loyalty over immediate profits. Explore the joy of entrepreneurship while honing in on core strengths, and uncover lucrative opportunities in service-based industries. This journey is all about building a following and enjoying the ride!
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The Marshmallow Test Story
- The marshmallow test showed children who delayed gratification later had better life outcomes.
- This illustrates the power of self-control for long-term success, even if debated in interpretation.
Practice Frugality for Growth
- Be frugal in personal spending to invest more in your business and reduce stress.
- Avoid unnecessary big expenses like expensive new cars to maximize growth potential.
Delay Profits to Build Brand
- Sacrifice profits early to gain customers, build trust, and grow your brand.
- Use loss-leading offers or free value adds to nurture long-term competitive advantage.