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Why entrepreneurs have to keep learning to succeed

13th Jan 20 5:56 am

I recently read a really interesting article from April 2013, in the Wall Street Journal, about a successful restaurateur called Jodi Richards.

Richards competes in extreme trail races, triathlons and bike races and the article discusses her workout routine (she uses two training coaches!) her diet and the cost of her training and gear which includes specialized high-tech fitness equipment.

For instance, she uses an anti-gravity treadmill that reduces a percentage of her body weight, helping her improve her speed and minimize the impact on her joints. The cost of the treadmill? $55,000.

She also uses a Hypoxico training chamber that simulates training at a high altitude which costs about $28,000. She rides a specialist bike that costs $11,000. She pays a total of $3,500 a month for her two coaches and spends $120 per Pilates session. It’s also noteworthy to add that this is for her hobby, not her Michelin starred restaurant business, Atera.

Ms. Richards is in continual pursuit of expanding what her body can do. She invests in a running, swimming and strength coach and also a second coach for cycling and strength.

A lot of people would deem this wasteful. If she already has a strength coach, why does she need a second one? Some might also question the rationale behind hiring a coach for running and swimming when she obviously is quite good at both.

But having coaches, specialist gear and a specific diet allows her to be able to do extraordinary things. Coaches help nudge her into pushing her body further. They help her unearth tweaks that allow her to shave off time during a race, and they renew her motivation when negative self-talk gets in her way.

Similar attitudes prevail when it comes to intellectual input and coaching in business

Most people excuse themselves from acquiring and investing in new information. Many take the stance, why invest in learning more when I don’t use/implement half of what I know now? But exceptionally successful people think differently.

They think, “I want all the stimulation I can get because my mind is fully capable of expanding to meet, sift, sort and organise as much information as I can put in front of it.”

Super successful people are always looking for, and are open to, the inch that will make the difference.

When I work on projects, I process information by the kilo. Searching and sifting for the one detail, the one gem that will make this campaign, product or package a winner and create higher profits. And I’m happy to find just one nugget among the pile—because sometimes that’s all it takes.

I’m fortunate to know a lot of very successful entrepreneurs and can’t think of any who aren’t in constant pursuit of more information, more ideas and more inspiration. Nearly all of them have at least one coach or mastermind group that they are part of; and while they may complain on occasion of being behind in their reading, they’re always buying more books.

Successful business leaders realise the value of acquiring, investing in and processing new information and ideas.

Information, coaching and input that:

  • Reminds you of things you already know but aren’t using/doing;
  • Nudges you into acting on some slow simmering idea or intention;
  • Pushes you past procrastination on just one useful action;
  • Counters gloom ‘n doom media noise

In short, it more than earns its keep.

The truth is that to be exceptionally successful, you need to feed your mind and investigate regularly, constantly, continuously and enthusiastically.

You need stimulus as well. On a regular basis. Because you’re human.

Imagine any top sportsman or woman sacking off their coaches because “I know it all now – I just need to implement”. It simply wouldn’t happen.

Entrepreneurs understand that we all need input, information, ideas and an occasional nudge to keep progressing, growing and moving in the right direction. Without external input we get stuck in a rut of our own making and only external stimulus can get us out.

So, when setting new goals for 2020, make room for new ways of learning. Make room mastermind groups, business coaching and mentors. And make room for educational and valuable events, which provide the opportunity to learn from proven Entrepreneurs who can guide, inspire and motivate you in progressing to the next stage of your business.

Remember, the only difference between a rut and a grave is depth!

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