Why Self-Delusion Can Help You Succeed

Discussion in 'Investor Psychology & Mindset' started by Sackie, 30th Oct, 2017.

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  1. Sackie

    Sackie Well-Known Member

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    Written by: Carleen Hawn
    Gigaom | Why Self-Delusion Can Help You Succeed



    Many of us overestimate our contribution to a project; have an elevated opinion of our professional skills and standing among our peers and/or exaggerate our project’s impact on profitability by discounting real and hidden costs. Many of [these] delusions can come from our association with success, not failure. Since we get positive reinforcement from our past successes, we think that they are predictive of great things to come in our future.

    But as founders we can turn this conundrum on its head, and to our advantage. As entrepreneurs, “success delusions” can actually help us become more successful. We believe we can be successful, and so we are more likely to be so. Our grand delusion is typically built upon one of four basic beliefs:

    Belief 1: I Have Succeeded

    Successful people have one consistent idea coursing through their veins and brains – “I have succeeded. I have succeeded. I have succeeded.” This strong belief in our past success gives us faith to take the risks needed for our future success.

    Belief 2: I Can Succeed

    Successful people believe that they have the capability to have a positive influence on the world – and to make desirable things happen. It’s not quite like a carnival magic act where the mentalist moves objects on a table with her mind. But it’s close. Successful people literally believe that through the sheer force of their personality, talent and brainpower, they can steer a situation in their direction.

    It’s the reason why some people raise their hand and say, “Put me in coach” when the boss asks for volunteers – and others cower in the corner, praying that they won’t be noticed.

    This is the classic definition of self-efficacy, and it may be the most central belief driving individual success. People who believe they can succeed see opportunities, where others see threats. They are not afraid of uncertainty or ambiguity, they embrace it. They take more risks and achieve greater returns. Given the choice, they bet on themselves.

    Belief 3: I Will Succeed

    Successful people are optimists. Anyone who has ever been in sales knows – if you believe you will succeed you might not – but if you don’t believe that you will succeed you won’t! Optimists tend to chronically over-commit. Why? We believe that we will do more than we actually can do.

    Belief 4: I Choose to Succeed

    Successful people believe that they are doing what they choose to do, because they choose to do it. They have a high need for self-determination. When we do what we choose to do, we are committed. When we do what we have to do, we are compliant. Think about which of these success beliefs apply to you. The catch here is to leverage these beliefs/delusions into a willingness to take risks and try new things to continue a cycle of success, some imagined some real but all possible due to a certain thought process which reinforces success at every level.
     
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  2. ellejay

    ellejay Well-Known Member

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    We're living in Australia. I'm with Jim Rohn, success here is easy (so is doing nothing). I see opportunities for success all around. The challenge can be finding ones that fit my circumstances, but they're definitely there. The more people I talk to, the more I can see who can help and who can't. The more people say no, the more I keep going until I hear yes. Totally agree most obstacles are internal ones.
     
  3. Sackie

    Sackie Well-Known Member

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    Vaucluse, Sydney.
    Jim is a giant. Hands down changed our lives.
     
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