DEVELOPING COMPETITIVE ADVANTAGES

Posted by Andrew Smith Posted Date:04/12/2021 11:00 AM

3 Ideas from LMI

1. One of the most valuable ideas you can ever embrace is that you never work for someone else. The truth is that someone else pays you to work for yourself. Internalizing this truth gives you a leading edge as valuable as the ability to read and write.
Once you have discovered that you are — essentially — working for yourself, the next great discovery you can make is to learn that work, when it is goal directed, is never a burden, but a blessing. Your work is a channel for expressing your personality, your own uniqueness. Only through your work can you make a significant contribution to human progress.

2. Desire cannot exist without a goal. Set realistic and challenging goals in every area of your life. Visualize your goals. Affirm them. Plan your daily activities to support and achieve them. Carry out your plans with determination and consistency. As you follow this procedure, you begin to experience a desire that cannot be denied. You set up an ever-expanding, self-reinforcing cycle: desire produces intensified determination; determination energizes a higher activity level; higher activity inspires greater desire.
Desire affects both your enthusiasm and your attitude. Desire pushes you to perfect your skills in whatever activity is involved in your goal seeking behavior. Desire energizes you and enhances your effectiveness and your willingness to grow.

3. If you have the desire to succeed and have made a commitment to your goals, you are ready to apply those two qualities to the development of persistence. It is persistence, over a period of time, that makes the difference between winning and losing. Persistence grows as you develop several attitudes:

Determination

Patience

Pride

Willingness to risk

Habit formation

Quotes from Others

1. “10 competitive advantages you can start developing today:

1. Intellectual Curiosity
Intellectual curiosity is a real-world superpower.
We all have it, but most will never embrace it.
For the curious mind, anything is possible.
Fortune favors the curious mind.
2. Comfort with Discomfort
We are conditioned to avoid discomfort, so most of us do.
The problem?
Discomfort leads to growth. It is an absolute necessity.
If you train yourself to accept and embrace discomfort, you will always have an edge.
3. Simplify Where Others Complicate
“The definition of genius is taking the complex and making it simple.”
Complexity and jargon are often used to mask a lack of deep understanding.
Learn to convey extremely complex ideas in simple, digestible ways.
Find beauty in simplicity.
4. High Tolerance for Failure
We fear failure, so most of us play it safe to avoid it.
But our greatest moments of growth often stem directly from our greatest failures.
Do not accept failure, but do not fear it either.
You will fail. Embrace it. Learn to fail smart and fast.
5. Low Time Preference
Life is a long game.
Those with low time preference play it more effectively – they happily delay gratification to build real value.
In a world of people seeking instant gratification, this is a meaningful edge.
6. Antifragility
In Greek mythology, the Hydra is a creature that has multiple heads. Every time one head is cut off, two grow back in its place.
Life is random and chaotic.
Do not be broken by this chaos and disorder; rather, adopt a mentality that you will benefit from it.
7. Presence
With the rise of technology – and the instant access to millions of people and things that it has provided – the ability to be truly present has become a rarity.
When you are with someone – whether a new business contact, friend, or partner – be WITH them.
Be present.
8. Relentless Consistency
Many people are able to produce bursts of energy. Few people are able to produce consistent, steady flows of energy.
The former might be flashy, but the latter is relentless.
Take pride in punching the clock – in showing up – day in, day out.
9. Noise Cancellation
The world is a noisy place. We are constantly hammered by stimuli competing for our attention.
The ability to cancel out the noise – to truly focus on the task at hand – is both broadly applicable and extremely powerful.
10. Be Yourself
The most important competitive advantage.
Always be yourself.”
Sahil Bloom

2. “The most prohibitive and destructive walls are those in our minds”
Paul J. Meyer

Question to Ponder

What is not going to change in the next 10 years and have you based your business plan on those consistencies?

User Comments

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Our goal is to produce and maintain a lively, interesting and informative blog which: promotes the LMI process; accurately reflects the measurable results achieved by our clients; demonstrates our focus on people development, and encourages a growing readership.

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