Why this type of Banking is bad.
10X Business Letter
San Diego, Ca
Nippy 61 Degrees
Dear 10X Business Builder,
There is a bank out there where deposits are not always a good thing.
Stick with me on this because you may not be even be aware you’re making deposits.
As you read this ask yourself if you do this.
You read about a great idea and say, “that’s nice to know.” I can do that… I’m going to do that… but never do.
You feel good with just the notion of KNOWing you know to do that.
BUT YOU NEVER TAKE ACTION.
I call this “Banking Ideas”.
Just like a real bank, it feels sooo good to make deposits. You get a chemical dopamine high as you mentally feel like you did something, simply by knowing you know what to do.
It’s never a bad thing to have a bunch of good ideas… is it?
This is a bad banking practice because you will never make true progress.
#1 “Many roads lead to Rome”. You will never run out of ideas to deposit. There simply are a never ending supply of good ideas… But there is a finite amount of hours in a day.
#2 It’s a self-delusion of achievement. And most entrepreneurs aren’t aware of it. Simply having the knowledge is not the same as actually doing it. It’s a like a real bank, when you build up a large balance you **feel good** that you have the security of future needs. You also develop the habit of depositing but not withdrawing.
If you’re someone that goes beyond the ‘mental note’ and actually writes the ideas down somewhere, I GUARANTEE you that you have ideas written down that you have COMPLETELY FORGOTTEN ABOUT.
So am I saying to stop reading/watching/learning?
I’m saying stop banking the ideas and start implementing them.
That’s why I’m a big fan of workshops.
In our public speaking workshop, “Influencing from the Front”, you don’t simply **bank** the ideas that we teach you.
We actually allocate time for implementing and getting feedback, so you walk away with a complete presentation.
We’re running a Black Friday sale with over $1200 in bonuses.
Get your seat before it’s gone.
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