If you aspire to great things in life you have to say YES to the right things. You need to carefully choose high value opportunities. You need to surround yourself with driven and talented people. You have to attend high value events and pursue the best opportunities and ideas… So finding these things and saying YES to them is a really important factor in determining the quality of your life… but there is nothing more important and powerful than what you say NO to.
Saying NO is the game-changer.
- NO allows you to focus on things that matter by removing things that do not.
- NO reduces noise in your life.
- NO gives you space to think.
- NO keeps the negative people and energy safely away from you.
- NO actually makes you feel great.
So what’s the problem?
Most people, this entrepreneur included, suck at saying NO.
Well, one reason is that YES feels polite. We were raised to be polite.
Another is saying YES to opportunities makes us feel like we are being smart. If we say YES to lots of things, surely one will work out (we hear “diversification” again and again with things like investing in the stock market)…
Ah ha. Exactly.
Perfect example of the PROBLEM.
If you have $1,000 to invest and you decide to diversify, you are saying YES to lots of things. Maybe YES means you invest $10 in 100 companies. That’s great because if some go down you won’t lose much, if some go up you will still benefit from those… so, win-win right?
Well, hold on. Sure, the diversification can certainly mitigate the risk of losing your $1,000 BUT it will also incredibly dilute your potential upside.
And that is exactly the reason saying YES is fine as a way to mitigate risk, but you don’t become a millionaire in the stock market by heavy diversification. To make a lot of money in the stock market, or investing in private companies, you have to concentrate your bets.
Have you ever seen Venture Capital math? (if not, check it out HERE). It basically says to create excess returns you would make approximately ten investments in companies you believe have enormous upside (the kind that can generate 10-100x returns).. Then you realistically expect six or seven of the ten companies you invested in will underperform (somewhere between barely surviving and complete failure). You expect a few of the companies will provide decent returns where they might double in value and then one or two of them you need to deliver that 10-100x… if that happens, one company will drive all the returns.
There is a reason that billions and billions of dollars are invested every year using this same logic and math.
The exact same principle applies to pursuing and achieving the things that matter to you…
Scale, freedom, impact, wealth, income, etc. To actually ACHIEVE these things you have to focus, concentrate your bets and use that concentrated focus to drive results. That is the model.
So back to saying YES and NO. If you say YES all the time you WILL NOT scale your business or your life to full potential. You have to say NO, a lot. You have to say NO so you can focus and concentrate on the things that matter and not be distracted by things that will dilute your life.
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