MBA1307 How To Stop Second Guessing Yourself + Free Ride Friday!

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Hey, today is Free Ride Friday so make sure you hang on to the end of the episode to hear who won this week's Free ride. Every Friday we give away a lifetime membership to our course Easy Course how to build your own online course in 30. It retails for $500 over at EasyCourse Co, but you can win it for free. Just leave us an iTunes rating and review and you enter our weekly random draw. Just listen out on Friday to see if you won. It's that simple. It's our way to say thanks that you showed us some love on itunes. All right, let's jump into today's episode. Heyoo. Welcome to the $100 MBA Show. Good business vibes in your ear with their daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the Hundred Dollar mba, a complete business training and community online. And in today's lesson you will learn how to stop second guessing yourself as an entrepreneur. You're making decisions all day long every day. And sometimes it can get overwhelming and sometimes we start to doubt our decisions. We start doubting what we're doing and how we're doing it and our implementation and our strategies and we start second guessing ourselves. And often this results in what we call analysis paralysis, where you just get frozen like deer in the headlights and you're not sure, you're not sure if you're making the right decision and therefore you don't make a decision at all. Second guessing yourself can be a huge time waster and can impede your success not only in the short term, but in the long term as well. So in today's episode, we get into some strategies to stop this from happening. I should say how to have a strategy so you know what to do when this happens. When you start second guessing yourself, when you're having doubts, what do you do? That's what we get into in today's episode. So let's get into it. Let's get down to business. One of the most difficult things as a leader of your business is that you're making so many decisions every day. You don't have the luxury to spend all the time you would like to to make a decision. To make each decision, you got to act fast, you got to implement, and you got to keep moving forward. But often when we do this, time passes and we start second guessing ourselves on those decisions. Like, was that the right decision? Should I continue? Should I change gears? Am I doubting myself? Am I not giving this enough time to kind of result into something positive? We start having these thoughts in our head, we start questioning, hey, maybe I'm not good at this. Maybe I'm not this professional that I need to be to do this. Maybe I need somebody else to tell me what to do. How do you get around all this? How do you stay out of the weeds? Well, my first advice to you is that it's extremely helpful as an entrepreneur to have a community, a community of peers, people that are doing what you're doing. If it's possible, have a community of peers that are in the same space as you market, or even just genre. Like say, for example, you have an Etsy store, other Etsy store owners, where you're a travel blogger, being in a community of other travel professionals or entrepreneurs. This doesn't have to be something that's formal. It could be, you know, a Facebook group, it could be a Slack channel. The point here is, is that being around, being in touch with other entrepreneurs that are going through the same journey as you, it's incredibly helpful. Why? Because you're going to get to these moments in your business where you just want to share with other people, hey, I made this decision, you know, three months ago. This is what's going on. This is the status, not sure. If I'm, you know, being hasty here. Has anybody been in this situation before? Chances are, if you have a reasonable sized group, people have gone through that already and they can share with you their results, their thoughts, what they did, whether they succeeded or failed. Sometimes we just need somebody else to share their experience in the same situation to make us feel a bit more confident or maybe just give us some reassurance that, hey, I'm on the right path, I need to be a little bit more patient, or sometimes there's no fix, it's just a struggle, it's just a difficult time. And it's just reassuring to know that other people go through this. So having a community is really helpful, something that you can tap into at any time. It doesn't have to be something that's super intensive or time consuming. Like say, for example, a lot of people go all in and do like a mastermind call every week. That's great and all, but it's just good to be able to have access to this community. Even if something as simple as a Facebook group. Search Facebook groups to find out if there's somebody in your genre, in your marketplace, in your business that you can join a group that you can join. If there isn't one, create one. It's a great way to get connected with other people. Having that network, having that support network really allows you to bounce ideas, get some clarity on some things and stop second guessing yourself. You can actually have some other voices in your head other than your own. Even if you're working on a project like say, for example, right now we're working on revamping our pricing pages and I can't live in a bubble. I gotta talk to other people, talk to potential customers, talk to other people in my space and say, hey, other entrepreneurs, what do you think of this pricing page? What's your feedback? What's confusing? Give me a tear down, you know, and even if you get one or two pieces of advice, pieces of feedback, it's going to be useful. It's going to allow you to realize, okay, you're doing something's right, something's wrong, it's giving you some reassurance that you're on the right path or not. But if you don't allow other voices in the conversation other than your own, other than the voices in your head, it's just going to fester. That self doubt, that second guessing feeling is just going to build inside of you and it's not going to get any better. So open yourself up a little bit, be A little vulnerable and, and don't be afraid to share a little bit in that community and be happy to help other people when they're in the same position they're sharing. Another piece of advice or another thing you can do if you'd like to invest in this is get a business coach. Get somebody that can help you get through some of these bigger hurdles, especially as you're growing your business. Now, my advice when it comes to hiring a coach, I hundred percent vouch for hiring a coach only if you find somebody that's been there, done that. I always like to find somebody who's accomplished the things I want to accomplish. To me, that's all the qualifications I need. You've been there, you've done that. Okay. I need you to help me through my journey. You've been there. Hindsight's 20 20, so they're going to give me that insight. So when we have looked for coaches in the past, that's our, that's our kind of metric. Have you accomplished where we want to go? It's a huge plus if they've done it more than once. If you're trying to build a burger franchise and there's somebody in your local town that has, you know, five burger shops and you haven't opened your first one yet, or you only have one, take that person out to coffee. If you want to start a burger franchise and you know somebody locally that has, you know, five Chinese restaurants, well, they know how to expand, they know how to build other restaurants. You're not competitors here, they're not another burger joint. But take that person out to lunch, to dinner, ask them if you can call upon them or ask their advice or get some coaching once a month. Most people are happy to share their expertise, their experiences and pass on their knowledge. So it doesn't have to be some sort of big guru, Tony Robbins character. It could just be somebody local that has done what you want to accomplish. Third piece of advice is when you're making decisions, put some guidelines, put some deadlines. This is going to hold yourself accountable and give you some reassurance that you've tried everything you can. So say, for example, you are second guessing the pricing of your product. So what you need to do is that when you make a decision on a certain price, hey, I'm committing to these prices, these packages. This is my decision so I don't second guess myself. I'm going to set a three month, a one month, a two month, whatever it is, deadline to review it, see how things are going. Things are getting better. If they're not getting better, regardless if I'm not making more money, I'm going to make a change. You commit to that. That way when you make the decisions, okay, I can't second guess myself because hey, I've committed to, to this, you know, two month period to test the pricing and I'll let the results speak for themselves. I'll make a change if necessary. Peter Drucker says you manage what you measure. You have to measure. You have to have some sort of way to stop yourself and say, hey, how am I doing? What's going on? If it's better, great. If not, change things up. One of the most time consuming things and one of the most energy sapping things that we do as entrepreneurs is make decisions. So one of the things I want to talk about as I close out the episode is ways to reduce that way, to reduce the energy it takes to make decisions so that when you do make decisions, you're not running on empty.

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Decision making can be fatiguing and you don't want to make decisions when you're weak, when your brain is tired, when you're frustrated. This is why I like to have meetings. I like to have the moments where I need to make the decisions in the business when I have the most energy. This is different for everybody. If You're a morning person. If you have a lot of energy at the start of the day, then that's the time to make your decisions. Because you want to use your energy for the most important thing that you do in your business, which is make decisions. Keep the other stuff that require you to be a little bit more mechanical, whether it's email or phone calls or social media or whatever you do doesn't require you to make, you know, high level decisions. Use the time when you don't have that much energy to do those tasks. Some people, their energy is best right in the smack in the middle of the day and that's me. I'm not so good in the morning, not huge producer late at night. Some people are the opposite. They love making decisions at the end of the day because that's when they get their energy boost, their night owls. Find your energy pocket and know when to make your decisions. Lastly, hold yourself accountable. Have deadlines for yourself to make a decision. You don't want to take forever or drag out decisions forever because you're sapping yourself for a long time. You're dragging out your energy for a long time. You're investing a lot of time and energy into a decision and sometimes you just got to have some boundaries that doesn't happen. I'll be doing another episode specifically about how to conserve yourself from making other non business decisions in your life to save yourself energy, other things in life. You make decisions all day long outside of work that is very fatiguing, like what to wear and what to eat for lunch, your appointments or calendars, what time should you get up in the morning, what time should you go to bed. All that kind of stuff is decisions, smaller decisions all throughout the day that saps your energy, that takes away from your business. I'll do a separate episode on how to conserve your energy by having a regimen by making a routine where decisions are already made for you in advance. I'm going to give you some solid examples of some other experts other than myself. I'm still a beginner, still learning, right? But what other experts have done to really maximize in this area. That wraps up today's lesson. Thank you so much for listening. But today's episode's not over. It's Free Ride Friday. Let's see who won this week's Free ride. And the winner is Jomanciton. Jomanciton says awesome all around. Five stars. A great all around podcast. The only thing I regret is not finding it sooner. Thank you so much Jomanciton for That amazing review. Your mission is to email me over@omar mba.net to claim your free ride. Your access to easy course, our 30 day course on how to build your own online course. It's a $500 value. If you want to win, if you want to win a free ride Friday, just leave us an iTunes rating and review and you enter our weekly random draw every Friday. That simple our way to say thanks for showing us love on itunes. Before I go, I want to leave you with this. Don't feel bad if you do have doubts. If you do second guess yourself. It's natural. This happens all the time. We're only human and there's so many things that we make decisions on. It's hard to know which one is going to make or break our business. And what I've learned over the years or what I think I've learned over the years is not one decision is going to make a thousand percent difference. Right? It's the consistent work. It's the consistent decisions that you make. Don't worry about that one decision that's gonna, you know, tear your whole business down. That's unlikely. Just focus on trying to make the best decision possible. And then not only that, but revisiting that decision, like I mentioned, at a certain period of time to see if you need to change things up and correct your course, correct where you're going if things are not going the way you want it. Alright, thank you so much for listening and I'll check you in Monday's episode. I'll see you then. Take care.

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