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Entrepreneurship is plagued by three evil E’s - Expectations, Emotions, and Expenses. Setting unrealistic goals and being driven by emotions can hinder success. Managing emotions and making rational decisions is crucial. The three evils can be avoided by reframing beliefs, prioritizing growth, and making process-based decisions.
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Quick takeaways
- Entrepreneurs should shift their focus from outcome-based expectations to process-based expectations to avoid the pitfalls of unrealistic expectations and achieve long-term success.
- Entrepreneurs should slow down their decision-making process when feeling urgency and make decisions from a state of contentment and gratitude, leading to better outcomes.
Deep dives
Evil #1: Expectations
One of the biggest mistakes made by entrepreneurs is setting unrealistic expectations for immediate success. This mindset often leads to hasty decisions and shortcuts that can destroy a business. To mitigate this, entrepreneurs should shift their focus from outcome-based expectations to process-based expectations. By emphasizing excellence in the process and being intolerant of anything less, entrepreneurs can avoid the pitfalls of unrealistic expectations and achieve long-term success.
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Listen to the best highlights from the podcasts you love and dive into the full episode