Experiments With Hope - Episode 19: On Cause and Effect

NOE: This episode was recorded on October 29th, 2018 and moved from YouTube on January 14th, 2021.

In this podcast, I talk about the Principle of Cause and Effect in business, particularly for entrepreneurs and commission-only salespeople. This is one of those topics that seems too simple to be worth discussing. But, in my experience, the Principle of Cause and Effect is how you deal with the persistent challenge of economic uncertainty. Most aspiring entrepreneurs never quit their day jobs because of the fear of uncertainty. This seems like a rational fear until you realize what I realized in my mid-twenties...

The law of cause and effect doesn't stop working just because you've quit your job.

This saying has a bright side and a dark one. Becoming an entrepreneur is putting your faith in the fundamental laws of nature, and in your own ability to align yourself with them. For example, when you work for someone else, you go to work, do your job to the best of your ability, and then you collect a paycheck for it. Your employer is responsible for finding customers, managing legal issues, keeping your technology working, and absorbing the economic ups and downs of running a business. In other words, your employer acts as a buffer between you and the raw, harsh impact of the Principle of Cause and Effect. 

This all changes the second you become an entrepreneur. Suddenly, you're responsible for everything that you took for granted when you were working for someone else. You have to find customers. You have to make sure you keep those customers. You have to create and deliver products and/or services. You have to deal with technological problems. You have to do your own accounting and all the other time-consuming things that go into running a business. And if something needs to be done and you don't have time to do it, it just doesn't get done. You have to shoulder all the expenses, many of which are completely unexpected and can literally eat up all your profit at times. 

Most importantly, you have to do all of this well enough to get to the point where you can afford to hire people to help you. Even then, you have to hire, manage, and fire these people. And if someone who works for you drops the ball on a project or quits suddenly, it all comes back into your lap. It's impossible for me to overstate how complicated and stressful this is until you experience it. But my point is when you're an entrepreneur, there's absolutely no guardrail or buffer to protect you from the brutal consequences of your own mistakes, or the impact of totally unexpected things that are out of your control. This is why becoming an entrepreneur starts with understanding the role of the Principle of Cause and Effect in business, and how to align yourself with it. 

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