From: alexhormozi
Business growth is fundamentally composed of three components: the entrepreneur’s skills, character traits, and beliefs [00:00:21]. Many individuals may add “potential” to their business without actually growing it because they fail to address the core constraint [00:00:27]. According to the theory of constraint, a system will only grow to its bottleneck and no further [00:00:34]. Often, this bottleneck lies within the entrepreneur’s character traits or limiting beliefs [00:01:36].
Identifying Limiting Character Traits
A significant barrier to growth can be the “I am” statements individuals make about themselves [00:01:55]. These statements are powerful because they embed deeply held beliefs about one’s identity [00:01:57].
Examples of limiting “I am” statements include:
- “We are high anxiety people” or “we have lots of anxiety” [00:02:04]
- “I’m an all or nothing type person” [00:02:21]
- “I used to tell people that I was bad at math” [00:03:20]
- “I have a short fuse” or “I have a temper” [00:08:22]
- “I am disorganized” [00:08:25]
- “I am not good with time” or “I am not good with money” [00:08:27]
Such statements can prevent growth if they do not serve the individual’s goals [00:02:49]. To overcome this, one’s identity “must be whatever is required to grow” [00:04:42].
Instead of definitive “I am” statements, language should shift towards:
- “I have a tendency based on external circumstances to be more assertive in these types of conditions” [00:03:53]
- “I have a tendency towards” [00:03:59]
- “I have a proclivity for” [00:04:01]
- “I struggle with behaviors that are this way” [00:08:50]
Changing the way one speaks can change the way one thinks and lives [00:04:11].
The Danger of Crutches and Superstitions
Another significant limiting factor is an over-reliance on “crutches” and “superstitions” – routines or dependencies that individuals believe are necessary for their functioning [00:04:42]. While routines can be beneficial, becoming dependent on them can actually make an individual weaker [00:04:54].
Examples of crutches:
- Needing alcohol or drugs to sleep [00:05:36]
- Needing coffee in the morning [00:06:02]
- Adherence to specific “weird rituals” or “pharmaceutical drugs” [00:06:06]
This dependency can lead to a state where the crutch is needed just to feel “normal,” rather than providing a benefit [00:06:34]. For true benefit, activities should be cycled to maintain novelty [00:06:44].
The weakness created by these dependencies makes one non-resilient; if the routine is interrupted, productivity and well-being suffer [00:07:18]. An ideal entrepreneur should be able to succeed “independent of circumstance” [00:09:55], much like Rocky Balboa’s raw training contrasted with Drago’s scientific dependencies [00:07:46].
By eliminating these self-imposed weaknesses, entrepreneurs can become more resilient and effective in the competitive world of business [00:07:18], enabling them to build large enterprises and make a significant impact [00:09:46].