The Top Predictors of Business Owner Success Part I – Belief

Hey everyone, Pamela here. I recently asked Tracy a question that I've been pondering for months: What are the top predictors of success? We all know, or are told, the things we need to do in order to be successful, such as not quitting, having a solid plan and long term goals, etc. But are there character traits or behaviors that predict success more than others? That's what I wanted to find out, and that's what Tracy and I discuss today.

This is the first in a three-part mini series on the subject because we found that we had so much to say on this subject that one episode would not do it justice! So here is Part 1, all about belief. Belief in yourself, belief in your abilities and in your ideas.

Let us know what you think about the predictors of success and about belief in general! We would love to hear from you!

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Links to resources mentioned in the video:

The Biology of Belief

The question of the Day:

Let us know what it is you’re going to do.
What are you going to create?
What fears are you going to overcome?
How are you going to change your belief cycle?
How are you going to get out of this cycle of fear and get into the cycle of belief that you can do it?

Be sure to join the discussion and
leave your comments below!          

Video Transcript:

Pamela:   Hello everybody this is Pamela.

Tracy:   And this is Tracy.

Pamela:   And we are here to discuss how business really works.


Tracy:  Today our topic is going to be answering a question Pamela has.

Pamela:  What are the top predictors of success in a business owner?

Tracy:  I had to think about this one a long time because you can just up with a massive list.

Pamela:  There’s a lot of things

Tracy:   Yeah a massive list of skills, traits, you know, characteristics, but what are the ones that a business owner needs no matter what their industry is, no matter what their business model is, no matter where they are located in the world.  What traits do a really successful business owner need?

We’ve drilled it down to three:  belief, vision, and leadership.  And we have so much to say on these three topics, that we have decided that instead of doing one big long show, we’re going to do a series of three short shows over the next three weeks.

Pamela:  It’s going to be a mini-series for you.

Tracy:  It’s a mini-series, yes.

So the first one: belief.  Belief:  you have to believe in yourself, you have to believe in your ideas, you have to believe in your ability, you have to believe in the team you surround yourself with.

Pamela:  Yes.

Tracy:  Now the interesting thing about belief is if you don’t have it; if you have doubts and fears, how do you have belief?  Can you overcome it?

Pamela:  I think it is totally possible to overcome not believing in yourself or not believing that you are capable of doing specific things to move your business forward, or even in your personal life.   This can apply to business or personal.  We are going to obviously apply it to your business in this episode but really I think what we are going to discuss can be transferred to your personal life if you are having these issues there as well. So yes I think it is possible yeah.

[Time – 2:10]

Tracy:  So you’re saying belief is a skill.

Pamela:  I think it is a trainable skill.  I think you need to train yourself to get to that point where you actually believe in yourself.  So that is what we are going to cover.

Tracy:  Okay, I saw an interview with Tony Robbins one time and I thought he did an excellent job of explaining belief in kind of like this feedback cycle that creates belief.

He talked about everyone has a certain amount of potential, and from that potential, they will take an action.  And those actions will create results.  Those results create a belief.  Your belief determines your potential, which causes you to take actions, which creates results.  This loop constantly feeds upon itself.  So Pamela, what happens if you enter this circle of belief thinking “I can’t do this”?

Pamela:  Right, well then you’re not going to do it or you might try to do it but sabotage yourself along the way.   You might try to do it but really not give it your best effort because inside you’re not convinced that you can.  There are all kinds of ways we sabotage ourselves and it’s important to take this cycle into consideration that Tracy just described and break that cycle.

Tracy:  Yeah, you never can really I guess break the circle.  The thing is, you have to take those chances.  You have to overcome that fear.  And you know it’s funny, it’s mental.  You choose how you accept feedback. How you perceive it.

[Time – 3.58]

There’s an interesting phenomenon; it’s like you take an Olympic athlete.  Now an Olympic athlete gets ready to perform; their palms sweat, their heart races, they have butterflies in their stomach.  They might even feel a little nauseous.

But you and I perceive that as nerves, as anxiety.  It causes us to stop.  But you interview an Olympic athlete and you ask them what those emotions and feelings mean and they are going to tell you it’s excitement.

They’ve conditioned themselves, by putting themselves in the competition over and over again, to perceive nervousness and anxiety as excitement.  And you can do the same thing.

[Time – 4:55]

Pamela:  Yeah, I have an example from my own life of just what Tracy’s talking about.  I’m an actress as you guys know if you’ve watched any of our videos or follow my other channels.  I have been acting for I don’t know since like 2010, 2011 in Atlanta.  So I came into this as an adult.  I already had these patterns set in my brain of what I believed I could do and what I believed I couldn’t do.  And when I started auditioning years ago for real roles; theater, TV roles, web series, I was fraught with nerves.  And I would go into the audition anyway and do it anyway, but I wasn’t really bringing my A game because my nerves, which were coming from my beliefs about myself, were getting in the way.  And it was a real problem for me for a long time.

Now, what happened is I went through acting training and one of the things that they really impress upon you because this is a very common problem with actors.  We kind of give away our power to the casting directors and don’t release that we have the power.  We have the power to make the audition what we want it to be.  And so when I went through acting training one of the things that was impressed upon me by my instructors was to go into the audition viewing it as an opportunity to do your work.  Just an opportunity to work, to do the work that you’ve been trained to do, and nothing more; because frankly, the chances that you are going to get cast in any particular role are very low.  The competition is very high and that’s just a realistic assessment of the situation.  It’s not defeatist thinking, that’s just saying: okay there’s like; I’m competing against a thousand other women who look like me.  The chances of me getting it specifically are not all that great at any given time.  What I can do, however, is do the work that I’ve been trained to do and bring my own spin and my own interpretation to this role and to this audition.

[Time – 6:45]

So what I would do, specifically, is I would sign up for auditions that I knew I probably wasn’t right for that role.  Now you can’t always do this if you’re getting an audition through your agent. Your agent is going to submit you for what you’re right for.  But there are lots of things that you can submit yourself for that you don’t need to go through your agent; like theater and some web series and stuff.  So I would just start doing that.  I’ve summited myself for roles that I’m like I’m probably not right for this but the point is that I need to desensitize myself to the audition process.   That was my goal, not to get the part.  It was my goal to desensitize myself so that when I do go into those big time auditions I not like shaking, you know which is what I use to do. I use to like my neck would tense up, and my voice would change and I was terrible.

So, over time I would just go in these auditions and practice what I told myself in my head.  Practice that I was there to do the work; I wasn’t there to get the role.  And now that doesn’t work immediately, but over time you apply that discipline every time you go into an audition  And over time you start believing it.  You start knowing that you are a professional.  You’ve put yourself through training.  You’ve put a lot of blood sweat and tears into your craft and darn it you’re going to go in there and make it your own and do the work and not worry about whether you’re going to be cast and not give away your power to the casting directors.

So over time I’ve trained myself to see an audition in a different light and now when I go in; I just went in for an audition on Food Network two days ago, and that kind of audition for that kind big network would have racked my nerves so much that I would’ve still done the audition but it would have been crap.

I went in. I did my work.  I had fun. I was smiling.  Now did I get the part? Probably not, but that’s okay because I did my best work in the audition and I did it for the Food Network.  I mean how many people get this opportunity in the first place?  I’m grateful for the opportunity.   I’m grateful for being able to do my work.  So I think that’s the key.  You have to train yourself to have a different outlook about these opportunities.

[Time – 8:59]

Tracy:  Okay so you basically within that feedback loop; you changed the results you were expecting so you didn’t develop a defeatist belief.

Pamela:  Right.

Tracy:  So it didn’t self-perpetuate.

Pamela:  Right, yep.

Tracy:  You used basically desensitizing yourself from fear by exposing yourself to it over and over and over again; just taking that chance, not worrying about the results, until you got to the point that you can do it with ease.  You know you can do it with ease.  You believe in your ability to do it with ease.

Pamela:   Right, yeah, yeah.  Now I will say I do still have some fear.  I get some jitters, but it’s manageable.

Tracy:  So do Olympic athletes.

Pamela:  Exactly, right.  Now, well I don’t see it as excitement, but maybe that’s my next step is to actually interpret that as excitement rather than nerves.  But regardless, it’s totally manageable.  I get a little bit nervous, I acknowledge it. It there, it’s not taking over my whole audition now, which is what I really wanted.  And so I’ve used the combination of taking action and working on my beliefs while I’m taking the action to come to this eventual result where I am today.  Where I can go into a Food Network audition and give it my all and have fun.

Tracy:  Well, you know you use a really, really, important tool, probably one of the most important tools in belief.  Most people’s lack of belief creates fear.  And they let the fear basically paralyze them, you know.

Pamela:  It’s sad.

Tracy:  It is.  But you take somebody that has a phobia, what does a psychologist, a psychotherapist going to do?  They are going to go through desensitizing therapy.  They are going to put themselves in the situation they fear in small amounts, in increasing amounts, over time until they just don’t fear it anymore.

[Time – 11:00]

You have to do the same thing with your belief that “I can’t”, belief that “I might fail”, belief that “somebody might say something negative about me”.  Change your opinion of the result.  Conquer your fear by just doing it, doing it, doing it.  Doing will conquer fear.

Pamela:  Doing in spite of your fear.

Tracy:  Doing in spite of your fear.  It’s, you know, I’ve had fears of doing things in life.  I know the first time I traveled by myself internationally.

Pamela:  That’s scary, especially today.

Tracy:  I was.  I was. I was scared and … But I made myself go.  And I figured worse comes to worse I can hide out in the hotel room, you know.  So I took that step and forced myself to do something I was scared to do.  And guess what?  The next time rolled around, heck no big deal.

Pamela:  Yeah, traveling is fun.

Tracy:  You’ve got to; you got to hit fear head on.  And when you do, when you realize that wasn’t as scary as I thought it was going to be, your belief changes.

Pamela:  Right.

Tracy:  Then your potential to do it goes up, you’re going to take more actions and the more actions you take the more positive results you’re going to get.  You’ve got to understand that this is a loop and that everything you do and everything you decide feeds upon itself.  Belief is a skill.  You can have unlimited belief in yourself.  Today, I don’t believe there is anything I can’t do.  You want to know why; because I’ve taught myself to do so many things.  I have chosen to put myself in a situation, to attain a skill I know absolutely nothing about, multiple times and I have attained that skill.  I know I have the ability to learn and gain the skills I need to accomplish anything in business.

[Time – 13:15]

Pamela:  You know that now.

Tracy:  I know that now.

Pamela:  I think that takes a leap of faith, which is what we were talking about.  Tracy didn’t start off believing that she could do these skills.  I didn’t start out thinking I could have great auditions for big time networks.  But what we did with our respective situations was we took a leap of faith.  We did anyway, in spite of, and we got the results that we kind of proved to ourselves that yeah I really can do this and it will get better next time.

Tracy:  And it grows and it grows until you become a maniac like me that would take on anything.

Pamela:  Umm, okay maybe not but.

Tracy:  If you want me to learn to build a nuclear bomb, I can do it.

Pamela:  Shush, we’re going to edit that out.

Tracy:  I’m sure I could. I probably could.

Pamela:  Trump wants to talk to you tomorrow.

Tracy:  I don’t doubt my intellectual ability because I’ve proven it to myself over and over again.  At eighteen years old when I was leaving for college, did I believe I could conquer the world?  No!  No, I was scared to go into that first class.  I was scared to speak out loud.  You know I didn’t want someone to go well that’s a dumb question.  You know today I’ll ask you the dumbest questions in the world and I just don’t care.

Pamela:  Yeah, how are you going to learn if you don’t ask these questions?  They might seem dumb to you but someone has the answer you are looking for, so ask the question.

Tracy:  Exactly, don’t be afraid.  Overcome fear by doing.  Understand how important doing in spite of your fear is to your belief cycle. And that it will improve your beliefs the more you do.

[Time – 14:57]

I think one of the things that affected me a lot, years ago.  I don’t really remember how far back this was.  I did look up the quote.  I heard Steve Jobs speak and he made this comment and I thought wow, you know it had an effect on me.   And I’m going to read it to you.  Basically what he said was; everything that you consider a part of life was created by someone no smarter than you.

Now think about that.  In the beginning of man, it was eat and don’t be eaten.  Well, I think we were interested in reproduction too, but you know, basically you spent your entire day figuring out how to eat and how not to be eaten.

Everything else, everything we consider a part of life, everything we do, everything we think about was created by a person.

Pamela:  Someone that came before us.

Tracy:  A person!  You know, I’m a person, so why can’t I create life.

Pamela:  That’s right.

Tracy:  He went on to say, and I will quote this:   When you understand that you can mold life.  That you can create something others will consider life, you will stop living a limited life.  Don’t live in life.  Embrace it, change it, improve it, make your mark upon it.

Now I don’t know that just really affected me because I suddenly realized everything that like seems so freaking important, and so overwhelming, and so fearful, was created by some jerk just like me.

Pamela:  That’s true.  That’s true.

[Time – 16:47]

Tracy:  You know all this stuff we do.  This getting up and going to work, this chasing of money is all because somebody thought it up and made it happen and brought it into reality.  They created life as we know it today.  So why can’t you overcome fear, understand the belief cycle, desensitize yourself and go out there and mold life and create something great?

Pamela:  Sounds good.  I like it.

Tracy:  Let us know what it is you’re going to do.   What are you going to create?  What fears are you going to overcome?  How are you going to change your belief cycle?

Pamela:  That’s our question of the day.  And we really want to hear from you, so let us know in the comments.  Let us know what you are working on and how you are going to get out of this cycle of fear and get into the cycle of belief that you can do it.

Tracy:  Yeah and if you really want to learn more about belief and how it affects your mind and your body, there’s a great book written by Bruce Lipton, Ph.D., called The Biology of Belief.  And it is based on research and the fact that how DNA affects cells, it affects everything and how your belief and your mind can actually alter all of that.

Pamela:  Interesting.  I’ve got to get that book.  That sounds fascinating.

Tracy:   It was absolutely fascinating and I will recommend that if you; it’s not difficult to read in that he doesn’t use scientific jargon.  He explains it in everyday language.

Pamela:  Accessible by a lay person, yeah.

Tracy:  But I think I got more out of it when I did the Audible than I did when I actually read it.

Pamela:  Interesting.

Tracy:  There was just something about hearing him say it that made it stick with me a little bit more.

Pamela:  Yeah and I’m just… as you say that I’m thinking about the people that I know in my life, business, personal, whatever.  And this is totally anecdotal, not scientific, just my observation, but the people I know that have poor self-esteem, don’t believe in themselves, and don’t take action to get out of that cycle seem to me to have worse physical health or more physical problems.

[Time – 19:00]

Now that could be any number of things, I mean this is again my unscientific observation.  Whether there is a causal relationship there or just correlation but they do seem to kind of go together one way or another.  So yeah you can really affect your physical health with your mental health.

Tracy:  You can, and belief being one of the strongest parts of mental health.  And I think you are right because I see that correlation a lot too.  And I think the question is which came first the chicken or the egg?

Pamela:  Right but you know I don’t think it even matters to get out of it. It’s an interesting question to ask, but to get out of it doesn’t matter, doesn’t matter what came first.  You just need to pick a spot and go and take an action.   And that’s how you get out of that cycle like we were saying.

Tracy:  Yes, most definitely.

Pamela:   Biology of Belief.

Tracy:  So we’d like for you to answer our question and you can do so, if you’re watching on  the video, by putting some comments below.  If you’re listening on the podcast then head on over to how business really works dot com and chat us up there.  There’s plenty of places where you can get in touch with us on the website.  You know tell us what you are working on.  Tell us how belief if affecting you.  Ask us questions.  We love your feedback and your input and it helps us come up with future content.

Pamela:  Yeah, definitely.  So after you’re done answering Tracy’s question of the day, please like this video or share if you’re listening on a podcast. Like and share, don’t forget to subscribe to get more good content from us.  We post every Tuesday there’s a new episode.  Every Tuesday morning you’ll get more content from us.  And if you are listening on iTunes, please leave us a review.  We would really appreciate it.  It really helps us get found in iTunes and it helps us to create more great content for you.

So we will see you next time, thanks again and I hope that you enjoyed this episode.



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