The problem of self-perception in business

Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs.

Hey there. It's Michael from Amazing FBA- welcome to mindset moments, little bite-sized chunks of thoughts and hopefully wisdom about business and life from my wanderings around London, and other parts of Europe. Today we are going to talk about how your self-perception in business is, how good is it and why does that even matter? Stay tuned. The 10K Collective Mastermind I'm the leader of the 10k Collective Mastermind, for private label sellers and product brand owners who sell at least half a million dollars a year or more on Amazon. Over the last five years we've had members triple their revenue in one year, grow to eight figures and one member get to a seven- figure exit. Now we're taking it to the next level. I'm excited to introduce the 10K collective Uber mastermind. It's a unique combination of peer group support in person and online and specialist coaching. If you're ready to take your business to seven figures and beyond, then just go to www.TheAmazonmastermind.com to find out more today. "The average driver thinks they are above average" So we are on the road, I am on the road, I'm driving and I, like many people, think of myself as an above average driver. It turns out that statistically the average driver thinks they are above average. as in fact, in my experience the average parent thinks the child is above average ability. So in other words, There is a mismatch between the reality of what they do and how they are and their perception of themselves, which is really interesting, isn't it? I guess that you could say that Delusion creates pain. , and yet positive thinking and optimism have a great correlation to success in many professions, including an entrepreneurship. So being Positive and optimistic is really, really important. But on the other hand assessing your own abilities incorrectly could also be a problem. So let's unpick this. Does accurate self-perception matter? So first of all there's a question of how accurate is it? And the second question is, does that even matter or is it even bad to be accurate? All interesting questions. Here's my take for what it's worth. I think within any given business or enterprise, whether it be a, you know starting an e commerce business or an orchestra, I happen to have done both or something else, naturally speaking, at least two people or sets of people. One is optimists who probably inaccurate about where you are currently at as a business, as a person, as a career. They're probably overly optimistic and, and in fact, they think they're better than they are. Like the average person thinking they're better at driving than they are actually in real life. But I think it's also important, or I should say and, and it's also important to have somebody in the business who's really good at the painful business of reality checking and going, well, actually you thought your business was doing better than it actually is. Numbers bring objectivity to self perception Because when we look at the numbers- and numbers are a great corrective, aren't they? They bring an objectivity to it- well, guess what? Actually you're not doing as well as you thought you were. And I would say delusion brings pain. And so does, not being optimistic enough, doesn't get you as far as it could be. Now I tend to be more on the reality check side of life, I'm that kind of person. A bit glass is half empty or rather I'm necessarily half empty, but I would say, yeah, well the glass is half full or, but not, it's not, it's not completely full. And I'm not always pessimistic, but I'm a, I'm a pedant for sure. I was about to say I'm a bit of a pedant, but my wife would disagree and actually anyone who's worked with me for a while probably would. I'm very, very precise. You need an optimist to drive a business Let's not overcomplicate this. If you're in a business and you don't have enough optimism, you probably in the end aren't the sort of person...