December 8, 2020

What business could you be in?

IMG_3385

Why don’t people pay attention to certain problems?

Because they never thought there was another way. They don’t have the frame of reference. They’re living within a legacy system that operates on an outdated consciousness.

And unless they are actively conditioned to abandon the old and embrace the new, they will not only continue to ignore their problems, but take zero action to solve them.

Reminds me of my biggest mistake as an entrepreneur, which was being religious about how I made my money. For many years, unless my income derived from speaking engagements or book sales, it simply didn’t show up on my radar.

And that was dumb. Worse than dumb, it was unprofitable. Doing so locked me into a lane that I had a hard time getting out of.

That’s how human motivation works. When you don’t realize there’s another way to operate, and not just a better way but a different way, then you don’t make positive changes. Because you can’t solve a problem that you don’t realize you have.

It wasn’t until my mentor asked a key question that shifted my frame of reference. He said, forget about what business you’re in, what business could you be in?

Meaning, instead of locking yourself into limited models of how you earn money, actively engage with the growing list of financial avenues that might be available to you.

Hell, every scenario could become another chance to get paid to do the things you love that create real value for others. It all depends on your frame of reference.

Imagine the struggling musician who has accepted the marketplace reality that she can’t earn a living from selling albums alone. She probably assumes the only viable business model is leaving her friends and family behind and going on tour three hundred days a year.

But that’s all just legacy system thinking. She could still create economic value and earn equitable compensation in the music industry in numerous other ways.

What about giving music lessons? Performing at church services? Playing background for local theater? Selling songs to other artists? Managing other bands? Earning online streaming royalties? Building digital products and subscription programs? Writing commissioned pieces? Arranging charts? Writing sheet music? Selling royalty free music to online libraries? Licensing songs for commercials?

That’s diversification. It’s not about what business you’re in, but what business you could be in.

Look, the highway patrol won’t pull you over just because you decide to change lanes. Don’t get so invested in your current strategy that you stop thinking about new paths for growth.

Don’t limit yourself because you can’t accept the fact that you might be able to do something else.

Stay open to the fact that there might be a different way forward, and you might solve important problems that you didn’t realize you had.

Do you get so worked up thinking your strategy is going to work that you’re not able to imagine it won’t?