10 Powerful Truths Wise Entrepreneurs Know


Category: Insight
10 Powerful Truths Wise Entrepreneurs Know

These powerful truths are not related to age.

Many entrepreneurs never learn all of these truths. Ever.

Imagine walking barefoot.

Imagine walking barefoot on broken glass.

OUCH!

Wait...

Imagine walking barefoot on broken glass but not knowing you are barefoot.

That is what a blind spot looks like.

It is experiencing pain and struggle because you do not know what you do not know.

You do not know that you are barefoot.

Maybe it sounds obvious because you can see whether or not you have shoes on. In your mental world, it is not obvious.

Hence, these powerful truths are often never fully learned.

This article is not only about 10 powerful truths that wise entrepreneurs know.

To know is to recognize and to be aware.

This article is about 10 powerful truths that wise entrepreneurs know and respect.

This is more than knowing, this is about respecting. This is about avoiding harm or interfering with these powerful truths.

This takes time to understand. If you really want to understand this, you will finish this article and subscribe to the newsletter (if you already haven’t). These truths stay the same, you are the changing element. I write with love to remind you of them.

You choose your focus. I help you focus on what matters.

These powerful truths are like a natural law. A universal law.

Would you fight gravity? Would you try to disprove cause and effect?

To fight a natural law is a fool’s game.

Wise entrepreneurs build their foundations on powerful truths.

1. The power of slow

When I used to practice my rudiments on a rubber practice pad in Drumline for marching band, I learned something. Rudiments are defined as the first principles of a subject. In music, for a drummer or percussionist, rudiments are the most important aspects.

Rudiments in music are like letters in the alphabet. In music, rudiments allow you to create different patterns, fills, and solos. It is similar to how letters allow you to write various words, sentences, and paragraphs.

When practicing rudiments, I learned that what I cannot do slow, I cannot do fast.

One rudiment, the single stroke roll, is a roll made up of single strokes.

First, take a drumstick and hit with your left hand.

Next, hit with your right hand.

Then left.

Then right.

Left.

Right.

Left (L).

Right (R).

LRLRLRLR.

Do this very fast and it sounds like a drum roll.

Could I skip to a fast single stroke drum roll and replicate it? Sure, but it will be sloppy.

How do I make it great?

Deliberate practice.

I start slow and I speed it up. I practice this. Over, and over, and over. Hours. Dozens of hours. Hundreds of hours. Top musicians have thousands of hours of simple movements.

Break it down, build it back up, with great effort.

Slow down to speed up.

Navy seals can move fast because they have done the exact same process with various combat situations and skills. The untrained eye sees speed and quick movement. The trained eye sees hundreds of hours of deliberate, intentional, proactive practice.

If you want to be great, you must slow down.

Break down your habits. Analyze them.

Every word. Every behavior. Every action. Every voice in your head.

The toxic and poisonous lie of “not enough time” disrespects this powerful truth. “Not enough time” implies you cannot move fast enough. This lie is the epidemic of our existence, like a virus no one knows or talks about.

Are you training for the sprint or the marathon? Last I checked, life is a marathon. Or maybe you prefer to live in sprints and create a roller coaster for yourself. Your decision.

Slow down to speed up.

Learn how to change the stories you tell yourself.

2. The power of small

Recently, I had an introspective call with an entrepreneur who is a big thinker.

He lost $16,000 of his own money on a recent business project and he is expected to pay $180,000 to a vendor (which never provided a service, the contract was broken).

It is easy to write these sort of things off as “bad luck” or a “mistake” and not to think about such pain.

On the powerful call we had, we unpacked this experience to learn from it.

One visual I brought into the conversation was a dog chasing a car.

Tell me, what happens when a dog chases a car? What is the dog focused on?

Answer: the car.

Different question: What does the dog not focus on?

In the case of this call, the entrepreneur I was speaking with was not focused on thinking small. There was a reason that caused him to think big. We brought that to light and exposed it. By exposing such an unhealthy force within him, we reduced its power. This left him “more energized, focused, and less anxious.” His words, not mine.

There is power in thinking small.

The cultural disease of “go out and change the world” is a weak belief when you do not take the time to invest in first changing yourself. It often results in hurting the world.

Small is powerful because business is a game of execution.

When you can think small, you can execute more efficiently and effectively.

When you look at a beautiful design on the Internet it is beautiful because beauty lives within the small details.

Since you experience life as you are and not as it is, as an entrepreneur, this may be a blind spot.

Examine the root of what causes you to think big to gain power over it.

Give yourself permission to think small. There is power in clarity.

I know what caused me to think big. It was an insecurity. I’ve openly shared about it and how I unknowingly hurt those around me.

3. The power of trust

I used to live with a lot of fear.

Financial uncertainty.

Doubt within my team.

It was the reality I created for myself.

And my actions reflected it, too.

I was deep in my fear. It blinded me. I was hurting those around me and I didn’t even realize it.

One day, as natural laws do, a surrender was forced.

I had to surrender.

Now, I embrace my deepest freedom.

I choose trust.

Decisions are either made out of fear or trust.

Often, fear results in a “survival voice.” Sometimes, it is disguised as “practicality.”

There can be a lot of fear as an entrepreneur.

Financial uncertainty, team uncertainty, market uncertainty, risk. Need I say more?

Listen, I get it. It is the only life I know.

Fear gets offset with trust.

Focus on gratitude. Focus on what you have. Because you get what you focus on, you create your reality.

Fear leaves you in a world of scarcity. Trust leaves you in a world of abundance.

The natural law is that you cannot control every element of your external world. However, you can trust in your ability to handle whatever comes your way.

Newton’s first law states that an object remains in motion unless acted upon by an unbalanced force.

This article can be your unbalanced force if you choose. I openly shared about my surrender.

You either lead your life (and consequently, others) with fear or trust. Learn which one strengthens your legacy.

4. The power of objectivity

I remember sitting with a CEO of a multi-million dollar company sharing what worked well for him.

He affirmed the power of objectivity.

I heard him tell a story about a difficult time in their company’s past.

He vividly recalled a meeting with his board of directors. He told them, “We are having difficulties right now. This is my six month plan... If I cannot turn this company around in 6 months, you need to fire me.”

He respected the power of objectivity. By calling it out, it did not have power over him.

You can embrace the objective reality or you can fear it.

There is power in embracing objectivity.

Objectivity removes your personal feelings or opinions (some of which you may be unaware of).

Objectively speaking, you are 1 of ~7 billion people.

Objectively speaking, everything you experience is a result of your biology or the stories you tell yourself.

Objectively speaking, everyone is doing the best they can with what they have with what they have been given.

Learn more about your objective reality and gain clarity.

5. The power of momentum

In 2013, I mountain biked to one of the highest peaks in Los Angeles.

It took 5 hours to climb 4,524 ft in elevation.

It took 5 hours because towards the top we encountered 6 inches of snow which required special adjustments to our mountain bikes.

After we arrived at the top, it was time for the descent.

I remember the way the sky looked when we started the 2-hour descent.

19 miles in total.

It took momentum to get us from the bottom to the top and from the top to the bottom.

Momentum happens when you are in motion.

It is defined by progress. Step after step, day after day, action after action, decision after decision.

Momentum creates clarity.

Momentum is what turns a small snowball into a massive snowball when rolling down a snow covered hill (referred to as the “snowball effect”).

Every big company started small.

Sometimes, thanks to our connected world, you see a businesses go from nothing to something large. A startup gets picked up by Mashable and becomes a big hit overnight.

Overnight success is the outlier (and often a lie you create).

I am speaking to the gap between what actually happens and what you see.

Greatness takes time if you are committed, respect momentum, and start creating progress towards the future you want to create.

Learn about one growth tip to optimize your momentum

6. The power of honoring yourself

I remember speaking to a group of ~50 leaders from various cities in Southern California.

At some point, during my talk, I realized I did not care what I was speaking about.

My voice reflected it. I was tired of it.

It was about mobile technology and how cities can utilize the possibility.

Sure, I love tech, but did it light me up when I stood on a stage?

At one point, it did. But it wasn’t sustainable. My conviction was not strong enough.

I honored that feeling. I respected it.

On June 13th, 2013, I set out on an adventure to uncover what I wanted to spend the rest of my life doing. I found that answer.

Practicing honoring myself, my feelings, and my thoughts, has allowed me to honor others.

Many entrepreneurs honor their vision, or their clients, or others, more than themselves.

Do you live like a slave to an external force or do you honor and respect where you are at?

This is about more than honoring and respecting your wants.

This is about acknowledging where you are.

This is hard to understand if you are “faking it until you make it.” That does not honor where you are.

Many are blind to what I am saying.

When you honor and respect yourself, the impostor syndrome does not affect you.

Would a 70-year-old expect a 10-year-old to understand many of life’s most profound truths? Of course not, that’s silly.

How much do you expect of yourself?

Do you live with “high demands” and “high expectations” of yourself?

Sure, this will help you progress, and it could also kill you because you are not honoring yourself. (Don’t get me started on how many CEOs I have spoken with and heard stories about strokes because they demanded too much from themselves...)

Remember, you do not experience life as it is, you experience life as you are.

Wise entrepreneurs know and respect where they are. Because they do this for themselves, they do this for others.

If you complain about other people “not getting it,” I am speaking directly to you. “other people” are where they are in their journey.

If it frustrates you when someone does something wrong, I am speaking directly to you. Do you think they did something wrong on purpose? They are still figuring life out to the best of their abilities.

Many people never grow up because no one ever honors and respects where they are.

Many people never grow up because no one ever meets them where they are at.

Maybe this is you.

Instead of proactively creating your life, you feel as though you have been dragged forward by everyone around you.

What if you honored where you were?

What if you honored your feelings and unpacked the things that made you feel uncomfortable?

What if you honored your feelings and took actions on the deepest vision and wants you have for yourself?

Do not follow your passion, create intense conviction. Conviction empowers strength. Conviction honors yourself.

If you feel like an impostor, you need to read about the limiting narrative behind that reality.

7. The power of being open

In my younger years, I was a very open person.

I asked a lot of questions.

I did a lot of listening.

I was never seen as a “strongly opinionated” person because I rarely shared opinions.

I was busy building my foundation. Brick by brick.

I would take advice or wisdom from one person and ask another person what they think about it. I dissected, analyzed, reflected on, and went through this process with hundreds of people.

I was open.

The advice I heard I allowed the space to resonate at my deepest core. Things used to affect me.

My mistake was thinking that everyone did this.

Little did I know, many people do not do this. Most people have a guard up. This guard is a learned skill, sometimes a survival skill (which I understand). It creates blind spots, prevents learning, and saves people from embracing vulnerability.

There is a reason why it is often hard for entrepreneurs to ask for help.

That requires openness. It requires honoring your curiosity and uncertainty and want for knowledge.

There is power in being open.

To avoid blind spots, being open is important.

Two people could experience the exact same thing and conclude their own rationalization for why something occurred. Why? Because anything can be rationalized in any way possible.

When this is understood, the wise entrepreneur who is open asks what other people see. They honor their curiosity and learn to see different sides of an experience.

The only thing that separates you is your awareness. Awareness comes from life experiences, or upbringing. Some is conscious, some is not.

Learn the practice of metacognition to become more aware.

8. The power of self-awareness

When I first started mountain biking, I fell often.

I never broke any bones, but I definitely have scraped up my legs and arms.

I remember taking one turn in mountains in Southern California. I took a turn too sharp and hit a tree.

Some falls were warranted, others were simply beginner mistakes.

The more I rode, the more I fell, the more I stood back up, the more my self-awareness on the bike improved.

I fall once every few months now and it is rarely major (minus a sprained ankle last year).

To some, the trails I ride may seem extremely dangerous because one fall could end my life. To me? Well, to me, it is like hiking with my own two feet. I am physically connected (clipped in) to the mountain bike. After 5+ years of mountain biking, my self-awareness of myself and my bike and my instincts are refined. My instincts are quick.

This is the power of self-awareness.

Self-awareness allows you to get to greater levels of mastery. It is an intentional process, not an accident. Wise entrepreneurs value self-awareness and invest in themselves to raise their self-awareness. Some do not and spend their days complaining because they do not know what they do not know (and pain/lost money/missed opportunity/etc is the result).

If something makes you feel uncomfortable, find the root. (There is always a root) Your body is trying to tell you and to understand it will require you pay attention and transcend the discomfort.

Often, what you do not like in others are things you do not or have not seen in yourself.

Things you admire in others are things in yourself you want to unleash.

Courage is admirable because everyone has the potential to be courageous.

Learn about the unrealized powerful potential of self-awareness.

9. The power of your power

My definition of “discipline” used to be synonymous with “control.” When I think “control” I think “rigid” and “structured.”

Not very attractive, is it?

When I respected my power, I learned how to reframe this.

I learned to change my perception of discipline.

Now I associate discipline with freedom.

When I am disciplined, I have the freedom to respond to life the way I want.

When I am disciplined, I have the freedom to be who I want to be and embrace mastery.

Notice how my first association (discipline is control) creates internal tension (is control attractive?) and my second association (discipline is freedom) reduces tension.

When you do not examine your habits, you may live with internal tension that holds you back.

It is within your power to change this.

It is important to acknowledge that everyone is projecting their reality onto you. Every action, spoken and unspoken, is a projection of someone’s life.

Often I see people accepting weak beliefs and weak mantras that have “side effects.”

For example, one person says, “I don’t have enough time in the day.” Another person hears this, looks at their to do list, and they start repeating the same thing. “Yeah, I don’t have enough time in the day either.”

The side effect of “not having enough time” leaves someone focused on time. Focus on time takes someone away from the present moment because time is the focus. You end up living a slave to time instead of understanding how to be present and embrace it.

Not having enough time disrespects the power of slow, too.

Do you see the toxic patterns that can be created from this?

Learn more to understand the puzzling truth behind your power

Learn more about your freedom that you are blind to.

10. The power of your legacy

I train for death.

I train for those moments where I am dying and I have one minute of thought.

One minute.

It is that minute where the thoughts that rush to my mind are unstoppable.

I have experienced it before when an authority figure pulled me out of school and said, “Your house is on fire.”

Time immediately slowed down. I am sure words were spoken after that, but my mind was lost in thought.

Back to death.

In those last breaths, what will your thoughts be?

Will you think...

“Did I love enough?”

“Did I live the life I wanted?”

“Did I make peace with everyone I wanted to make peace with?”

“Did I leave my family and friends in an inspired state?”

“Did I help enough?”

“Did I have regrets?”

Or maybe...

Maybe you will be so present, so at peace, so fulfilled with life, because you knew how to live that you will have no thoughts.

Legacy is not about you.

Legacy is about your value to humanity.

Wise entrepreneurs know and respect this.

Wise entrepreneurs put themselves in the place of most potential. In the place of greatest value. Aligned with their deepest strengths.

It will give meaning to your life.

It connects you to something greater.

Learn about what legacy means for you.


By Matthew Gallizzi. Consultant. Thinking Partner. Strategic Advisor. He believes our language creates our world. He equips business leaders as they live into their future vision.

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