In this video Brendon Burchard explains that there are countless possible strategies for achieving any life goal, but success depends on treating wealth creation like a scientific experiment: form hypotheses, run multiple tests, and discard the ones that don’t work. He warns that ego often makes people double‑down on losing strategies, leading to financial loss, family strain, and even addiction. Burchard shares a personal story of persisting with a new skill despite early failures, emphasizing the importance of evidence—progress, peer examples, and clear plans—before deciding to keep investing or to quit. He also illustrates the principle with a stock‑investment example, urging diversification instead of putting all eggs in one basket. Throughout, he encourages viewers to recognize when stubbornness is harming them, to seek professional help if needed, and to adopt a mindset of flexible, evidence‑based strategy selection. The video ends with a promotion for the Growth Day personal‑growth app.
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Anything you want to do in your life. There's a hundred strategies. There's. I mean, literally, they're like. There's an infinite number of strategies. In some ways, to do something. Your job is to find those ones to speak to you, to try them, to have a plan, to see something else someone else has tried to done, model them, find your own way within it. But listen, if it's not working, you have to choose when to quit it. This is all about ego. What happens is we start losing at something, we feel bad about it, we don't want other people to see it or know it, so we just double down. I'm going to prove I'm right. But in the area of wealth, just like in the area of science, testing is important. Knowing what is working is important. Getting rid of the experiments that are not working is part of the scientific process. Who understands what I'm saying? Well, the same thing with wealth. I think wealth generation is a very scientific process. You don't always get it right, but at least one core piece about it is having a hypothesis, making sure you're trying different experiments, seeing what's working. But what's important in wealth is not to lose it. What's important in wealth is when you've worked so hard to generate it, not to blow it on stupid stuff, or if you have a losing strategy, not to keep pouring into it. I have friends and family and people who. They'll try something for 5, 10, 15, 20 years, it's not working, but they're embarrassed to be seen quitting it to start something new because it would prove that they're wrong. And people don't like to be proved that they're wrong. Especially insecure people. Especially people who have their ego wrapped up in something. Especially people who don't want to learn. Especially people who are easily embarrassed when things don't turn out right because they've been taught or they believe that by being wrong they're bad. And they cannot see themselves as bad. So they get defensive. When they get defensive, they get stubborn. When they get stubborn, they double down. Anyone know someone like this? Be honest. Yeah, this is a big one. This ruins families. This ruins finances. This ruins your future. And you have to know when you're just being stubborn, when your actions are causing losses over and over and you keep repeating them. This is often where gambling or addiction comes into play. And when this comes into play, sometimes you need to know that you have to raise your hand and ask for professional help. Sometimes you need to tell a family or friend that they might need professional help. Some of you have had to do interventions with family. Take away credit cards, tell them, you know, give them, you know, take away access to bank accounts. I know when I talk to a global community, that stuff has happened here. And I'm here to say, without any judgment, I understand how hard that is. Like I said, I had people very close to my life who followed this strategy and sometimes they could control it and sometimes they could not. So I don't make light of this when you take on topics like this. This is tough stuff. However, I need you to know today. Have you been doubling down on a losing strategy, something that is just not working and you keep pouring money into it. Now, there is investment in skill development, as we'll talk about later. There is investment in your life. And if you feel like, hey, you're gaining mastery, you're getting better and that increases the odds dramatically of that thing turning around and you making it go, okay, I understand it. I did that myself. Right. I'll give you an example of me. I was somebody who invested a lot of time, energy and effort in learning the new skills that would become my future career. And in my first year or two, it didn't look good. And I had to have this honest sit down with myself with the journal, with that green tea and go, is this going to work? Is it going to work because I'm going to develop the skill, I'm going to apply myself, I'm going to stay consistent, I'm going to get around good people, I'm going to keep trying. Is this going to work because I've seen it work for other people? Is this going to work because there's evidence that there's progress here? Is this going to work because I'm there's evidence of gaining skill here or is this a total dead end and I need to be honest with myself? Now here's the issue. Notice I didn't make that about self esteem because when I was starting, my self esteem would have said, you know, should I double down on this? Well, I'm not very good at this. I'm not smart, I'm not capable. I've never done this before. My self esteem would have said stop. But instead I look for evidence, have other people do this. Is there progress? Am I gaining skill and mastery? Is there a clear path? Are there people around me who are doing this and it's obvious they've figured out a strategy that is very clear? There's no hocus pocus, there's no lack of transparency like These are what. The things they're doing. Do I have a clear plan that wasn't about me, it was about. Is there some evidence? Is there a plan? Can. Can I execute? Okay, I kept going. I kept going. And I'm glad in that moment that I did double down. Now, however, I didn't double down irresponsibly. Even though it wasn't going well, even though I felt like so many days were failure, there was evidence of a path. There was evidence of a peer group doing this. There was evidence of progress there. There is evidence eventually of, okay, this is working. Hey, look, people are opting in. People are buying the book. People are, you know, signing me up. Okay, I can see this thing scaling. Got it. All right, let me keep investing there. But also along the way, I can tell you, as someone running a business, there's been so many losing marketing campaigns, losing ideas, losing business along the way, that I just had to go, not working. Kill it. Just. It's just not right. Look at the evidence. It's not progressing. It's not getting the numbers. It's not scaling. It's just not working. Let's change our strategy. Let's leave it. Because what I tell people always, you can always find lots of other strategies that also get you to where you want to go and can bring you joy and connection and fulfillment. There's anything you want to do in your life. There's a hundred strategies. Anything. There's nothing you like. Think about parenting. Hundreds of strategies, right? To find your way authentically and to connect with your child. There's hundreds of ways to develop skill. There's hundreds of businesses. There's. I mean, literally, they're like. There's an infinite number of strategies in some ways to do something. Your job is to find those ones, to speak to you, to try them, to have a plan, to see something else someone else has tried to done, model them, Find your own way within it. But listen, if it's not working, you have to choose when to quit it. You have to choose. And the most important thing when it comes to wealth is to not double down on things that are not working because something else could, Right? Same thing in investing, right? This can be as tactical as, hey, you invested in this stock, you're watching the stock, and you keep pouring into it every month for six, seven months. And you're watching it, you're pouring into it. Six, seven months. It's not doing anything. Well. Remember, there's other strategy. Well, you look at, well, all these other stocks, they happen to be growing. They're doing fine. Maybe I need to evaluate if this one is where I should keep pouring into or should I diversify. Right. That's the basis of a lot of what people talk about in wealth management, is understanding, oh, wait, I put all my eggs in this basket. It's not turned out well. Let me make sure I'm more diversified so I don't lose. Y' all following what we're talking about here? Please don't double down on where you're losing. Know when you're being stubborn. Know when ego is there. Know when you're embarrassed to quit and say, you know what? Instead of being embarrassed to quit something, let me be okay with the fact that quitting or stopping this thing that is hurting me or my family or my finances, stopping that might actually be the thing that brings me the next level of abundance. Hey, it's Brendan. Thanks for watching this video. Please enjoy all the other videos on my channel and listen if you would love to have a daily exclusive life coaching audio from me. Make sure you go get signed up for Growth Day. 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