How to Win Long-term

Over and over and over and over...

April 26, 2024

In partnership with

1,285 Words | 5 Min 21 Sec Read

Welcome to another issue of Passionate Income.

Today we’ll be discussing the mindset required to win on a consistent basis.

We'll also be discussing a proven task management system you can use every single day to guarantee your success long-term.

Let’s dive in.

This issue is sponsored by us - Passionate Income!

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Tony Robbins once said:

"Success is 85% mindset and 15% skill."

As he goes onto explain, the reason people struggle to succeed has almost nothing to do with how smart they are, how good they are XYZ thing, how much funding they have or anything else.

Instead, he emphasizes that for the majority of people, the reason they struggle is because of their mindset.

What is mindset?

Unlike your day-to-day thoughts, your mindset is the overarching frame you hold about a certain aspect of your life. It's the big picture, 40,000 foot perspective - and modus operandi - you view things through.

Interestingly, it's possible to have a success-oriented mindset in one area, but a victim or failure mindset in another.

As an example, anyone who's built their body up through something like weight lifting or cardio knows it's impossible to pack on 50 pounds of muscle - or shed 50 pounds of fat - overnight.

Instead, you control your diet and exercise routine and build towards those goals on a months and even years long time horizon.

And if you've ever followed a diet or exercise routine for months / years, you know just how effective this long-term approach can be.

Same goes for learning a new skill, for example piano or surfing.

No sane person expects to learn a new skill and immediately perform at an expert level. Instead, they take courses / lessons, begin learning the core fundamentals and practice practice practice.

This is common knowledge, and should not come as a surprise to you.

What is surprising is how this train of thought goes out the window when someone starts a business. Especially when it comes to online business.

Despite evidence from every other area of their lives, people still think it's possible to succeed in business in a matter of days or weeks.

They still think it's possible to get rich quick, or build wealth without hard work.

Which is a massive part of why studies show 99% of businesses fail to hit $1,000,000+ in annual revenues.

So what's the solution to short-term thinking?

Similar to most addictions, the first step is admitting you have a problem.

The belief you can build a successful business "overnight" is quite literally delusional. It's a slap in the face to every self made millionaire who spent years - decades even - building their wealth brick by brick.

So if you want to succeed, it's critical you take a good hard look at your time horizon and adjust it accordingly. Ideally you should think about business on a multi-year or decades long time horizon instead of a weeks or months long one (which believe it or not, is how most people operate).

Second, once you adjust your time horizon, you need a plan for making your vision come true. While this step will be different for everyone, your main task here is figuring out which inputs (Lead Indicators) - when done repeatedly over X amount of time - will lead to your desired goal (Lag Indicators).

*As a bonus, find someone who's already achieved success in your area and have them look over your plan. This can help you avoid wasting months / years of time while providing serious insights into things you can do better and roadblocks/obstacles you should avoid.

Once your plan is finalized, it's time to take action.

While there are hundreds of time management and productivity systems out there, we like Andy Frisella's ​Power List​. Mainly because of how simple it is.

So how does the Power List work?

Easy: Everyday, before you do anything else, you complete five needle mover tasks in your business.

Keywords: Needle Mover.

No bullshit. No busy work. No adjusting your logo or website.

Instead, Needle Movers are tasks that either drive revenue directly, or are one step removed from driving revenue.

Making 10 cold calls. Launching an ad campaign. Onboarding a new client.

More important, needle movers can't be part of your existing routine.

As an example, if you're a freelance writer and have to write one 500 word article per day, you can't put writing the article on your Power List.

If it's something you already do every day, and you're struggling financially, odds are that behavior is NOT a needle mover.

Instead, the five tasks you put on your daily Power List must go above and beyond your daily routine. Meaning, in most cases, the tasks on your Power List should push you out of your comfort zone.

This is normal, and should not be avoided.

In fact, in most cases, 99% of entrepreneurs already "know" what they need to do to grow their business. So why don't they do it?

Fear.

Fear of failure. Fear of being judged. Etc.

Which is why being brutally honest about which five tasks you choose is so important.

At the end of the day, cheating on your Power List means cheating yourself.

Sure, knocking items off a To Do list feels "good."

But if the tasks you completed aren't needle movers, odds are you're not going to make very much progress.

More important, the reason the Power List works is because of compounding.

See, unlike sprints or Monk Mode, the power list strategy doesn't try to force success in a short period of time.

Instead, similar to packing on muscle or losing weight, it requires doing the right things week in and week out for months and years on end.

While this isn't as stimulating to the brain (relative to something like a sprint), it's much more sustainable long-term.

Even better, once you complete your Power List tasks, you're done for the day. Meaning, if you get up early and knock out your five needle movers by 11:00am, you can chill, surf, or smoke crack for the rest of the day.

Literally doesn't matter.

As long as you complete your five Power List items (which you may or may not do on the weekends), you're free to relax knowing you have compounding working in your favor.

So if you've been struggling to achieve success in your business, consider the Power List: A simple system that uses compounding to guarantee your long-term success without requiring you to work insane hours.

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💡 Takeaway: Most people struggle in business not because they lack intelligence or skills, but because their mindset around achieving success (financial or otherwise) is flawed.

To correct course, adopt a more long-term time horizon for hitting your goals. Second, implement some kind of productivity system (like the Power List) that guarantees forward progress. And not just checking items off a To Do List, but real, meaningful progress.

🎁 Resources:

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