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The Mind Your Business Podcast

All entrepreneurs want to know the secret to success. James Wedmore, a seven-figure online entrepreneur, believes success is created by mindset over strategy, magic over metrics, and attitude over action. In this podcast, James and co-host Phoebe Mroczek untangle the common misconception that hustle and hard work are all it takes to be successful.
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Oct 13, 2016

In today’s “Listener Question of the Week” episode, James and Phoebe discuss how you can filter through the opportunities that present themselves to decide which ones you’ll go after, and which ones you’ll let go.

To James, “opportunity” is a dangerous word because when you hear it, you only think of positive outcomes. However, no two opportunities are created equal.

It’s so easy for us to default to “Yes” when asked to do something, for fear of what might happen if we were to say “No.”

“Your time and energy is precious, and so valuable”

Opportunities are dangerous if you’re a personal brand, considering you are your product and also your most valuable asset.

“If you’re not guarding yourself, then you’re not growing because you’re not leveraging your product effectively”

James declines 90-95% of the requests he receives, but very rarely is it personal for him. He notes that when you put everyone else first, you’re putting yourself last.

People approaching you are trying to leverage your content and knowledge for their own use, or for their audience’s use.

“You need to be really mindful that what you are doing in your life and what you’ve created needs to be protected”

Three questions to ask when considering an opportunity:

1. Does it align with my vision and goals?

You need to not only consider if it’s worth your time, but also trust your instincts to decide if it’s something that’s in line with what your brand and what you’re doing.

2. If this were a wild success, what results would it have for me?

To do this, play it out with actual numbers when deciding if the opportunity is a good one that you can leverage for yourself.

3. What is the opportunity cost?

When considering what it would actually cost you to say “Yes”, don’t just look at financial cost; consider how much time, effort and energy it would take as well.

Introverts like James have limited energy and things will drain them easier. He shares his thoughts on how he handles podcasts, summits and speaking requests, as well as the way he has conditioned his team to act as a filter when they are approached with opportunities for him.

Submit Your Question!

LINKS:

“The Entrepreneur’s Solution” by Mel Abraham

Episode 058: 18 Simple Productivity Hacks

 

 

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