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April 2020

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Have you ever dealt with someone who is generally bad at something but at the same time, they’re absolutely confident that their work is excellent? If so, you most probably saw the Dunning-Kruger Effect in action. If you’re not familiar with the term, the Dunning-Kruger effect is a type of cognitive bias in which people believe that they are smarter and more capable than they really are. It’s fairly common, but in my opinion, most service-based business owners actually suffer from its opposite: the impostor syndrome.

My four-year-old son love Legos. And today, I noticed that he had lost the pieces for a police car. The thing about Legos is that when you lose some standard piece, it does not matter that much since you can easily replace it with others. But for speciality packs, there are some key pieces that are unique. And if you lose those, you cannot really build the thing.

You know how small-business owners usually say that most people are cheap and unwilling to buy stuff? Well, it’s kinda true, but not always. Some people are cheap, others are simply not able to afford your products and services. That’s an important difference. But at the same time, there are people who are spending huge amount of money.

I turned down a client, and he kinda reminded me of something the great Bob Bly once said. If you don’t know who Bob Bly is, he is the one McGraw-Hill calls “America’s top copywriter.” He has been writing high-performance direct response copy for IBM, AT&T, Intuit, Forbes, Medical Economics, ITT, and many more. So, I believe he knows what he’s talking about.

I know that you’re wondering what will happen after this. Truth is nobody knows exactly how the world will be. But I do know that we’re capable of handling it no matter what. When the dust has settled, you’ll look back and be proud that your business has survived.

Mark Spitz, (who in 1972 won 6 Olympic gold medals) had a coach named Doc Counsilman. He’s known as the greatest swim coach in America’s history. The first day of practice, Counsilman would get all the guys on the swim team to go out on the swim deck. And there was a little banner that hung over the pool. And the banner only had three words on it. Hurt. Pain. Agony.