CheatCodes - High Standards, Killing ideas, and predictable success
Keep High Standards
"High standards protect your from low quality experiences."
Everyone should hold themselves to high standards for this exact reason.
When you hold yourself to a high standard, you will encounter other people who do the same thing.
High standards people typically challenge themselves, hold high levels of integrity, and are very disciplined and motivated towards achieving their goals.
These people are usually the kinds of people you want to be around.
Not only are these people inherently valuable, but they also product and live through high quality expeirences.
Experiences that are more memorable, valuable, and interesting than your "typical" experiences.
All of which help you to grow as a person and open up more opportunities in your life.
But remember, all of this starts with you.
You holding yourself to a higher standard than you normally do.
You may not do it now, but there's nothing stopping you from doing it for the future.
Make the change.
When to kill a business idea and try something new
So many entrepreneurs die on their sword.
In layman's terms, they keep trying to make an idea work when the reality is that it's doomed - they just haven't accepted that reality.
But I get why....
Your business is your baby. You don't want to see it die. But sometimes you need to kill it and move on.
So, how do you know WHEN is the right time to kill the idea and move on?
If your business fits one of these 3 criteria:
Your customers aren't excited.
Let's say you've talked to 10 customers and none of them have given you a reaction of "WOW, where has this been all my life," or "That's amazing, I need to have it." Kill the idea.
2. Your close rate is low.
If your close rate from your demo to a closed sale is less than 10% then it means your product isn't actually solving a problem for these customers. Kill the idea.
3. Your retention is low.
If your customers are cancelling their subscription every month, or never re ordering your product, chances are you've chosen an idea that isn't providing value long term and will mean you constantly have to find new customers. Kill the idea.
If your business is experiencing any of these 3 problems, I suggest you kill the idea and move on.
There are plenty more ideas out there.
Try again.
Success is predictable
This is a quote from "Outliers: The Story of Success" by Malcolm Gladwell.
I read this book a while ago and revisited it recently after learning that it's actually Jay Z's favourite book.
(If it's good enough for Jay, it's definitely good enough for me.)
This quote really stood out to me because it's a belief I hold very close to me.
Success is predictable.
If you do the right inputs, the outputs will be as you expect.
Example: If you learn how to write, and practice persuasive copywriting, you will be able to sell things online, especially through email.
Simple input, simple output.
Just like, if you work out every day and cut out alcohol and takeaways, you will get in great shape.
Simple input, simple output.
Success is the same.
So, my advice, study the steps that others took before you to achieve disproportionate success, and do them yourself.
If it has worked before, chances are, it will work again.
