Friday, July 5, 2024

Chase Hughes on Entrepreneurship

I would write your goals in a Sharpie marker so that you can never back down from them.  --Chase Hughes
Definitely get an accountability partner who is going to call you out on BS when you try to lie your way out of not achieving a goal.  --Chase Hughes
 
I didn't like Chase's assessments of people's motivations or how to read behavior.  

His point about military personnel getting ready to leave and they write a resume, Chase says you're going to use it.  So he says don't write that resume.  Because your experience and mindset in the military, where every decision requires permission, is like a huge governor flip switch on your brain, problem-solving, and workarounds.  That was insightful.  

Instead, go out and develop salesmanship, and confidence in building and selling a product.  

SMEAC?  WWII procedure on how orders come down from the brass to the troops.  Chase says to not discount what you picked up in the military.  He got connected to a lot of people who knew how to do marketing and email campaigns, how to run a Facebook group and that kind of promotion.  If you know how to find people with recipes, then you'll never have to cook.  

34:28  Your mindset is more valuable than anything else.  The way that you think, and the way that you see the world should be your #1 investment, above stocks, above Bitcoin, above real estate investing, it should be 100% investing in things that change your mindset and get a better mindset.  Anybody that's smart enough to be an entrepreneur would take the mindset over the 3 Ferraris.  Mindset is so much more valuable. 

36:05  Money psychology is the 2nd part of that mindset.  "Do I deserve to earn X number of dollars?"  If you view rich people as scam artists or douchebags, what will you become when you earn your wealth?  And that's holding us back so much, just saying "it's okay for me to charge X number of dollars," or "it's okay for me to make money and getting okay with that to the point where if you've got a little place where you keep goals, even if you open up the inside of your closet door and write them on the inside of that, I would write your goals in a Sharpie marker so that you can never back down from them.

ACCOUNTABILITY PARTNERS
37:40 People who had an accountability partner that they spoke to weekly had a 95% of achieving their versus someone with no accountability partner.  The concept of Accountability Partner is built into the military.  So used to having someone like that who is going to "check you" and say, "Hey, man, you're not doing what you're supposed to be doing."  Definitely get an accountability partner who is going to call you out on BS when you try to lie your way out of not achieving a goal.  

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