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STRATEGIES | SYSTEMS | SALES

For STUCK Solopreneurs & DTC Founders

Get CLARITY & SCALE

Build or Scale your 6-figure Online Business with Growth Principles designed to create repeatable results within 30 days.

[Work Less & Earn More - No BS 'Hacks'. No overwhelm. No $20k+ coaching fees.]

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"Casey was able to streamline my marketing efforts into key tasks. He gave me the knowledge and confidence to delegate and automate; now my time is spent adding value to the business. I'm making more money and working less. Couldn't ask for more! "

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About me

casey parram

FOUNDER | BUSINESS STRATEGIST | COACH

Over 12 years launching, investing and consulting startups & SME’s across the e-commerce, events, fitness & music industries.

As Founder, CMO & Consultant; my previous lifestyle inevitably led to burnout.

Fast forward to 2023 and the discovery that my business superpower is helping others realise and actualise their business potential.

Now, my mission as a solopreneur is to live life doing the thing I love most: helping others build businesses they’re passionate about.

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4 Ways To Avoid Costly Business Mistakes

July 13, 20235 min read

“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.” — Charlie Munger

Master these skills to prevent unnecessary stress & overwhelm

Scaling a business is a journey of unpredictability and this often results in a continual state of anxiety; leading to overwhelm, over-thinking and subsequent inaction. I know this because it’s a cycle I've been caught in far too often. Mistakes are inevitable and can be scary, but a culture of zero-tolerance for mistakes is a sure-fire way to create unnecessary stress and stifle creativity.

A principle I frequently remind myself of is that prevention is better than cure, and your ability to avoid mistakes is not only key to staying in business, but the pathway to clearer thinking and better decision-making.

You need to have the freedom to make mistakes, knowing you did what you could to prevent them,  but also the confidence to learn from them and limit the impact on yourself and the business.

This guide covers the 4 key frameworks I use to proactively avoid mistakes. It will be continuously updated as I learn/remember more.

If you find this useful, let me know on Twitter/Linkedin @caseyparram_


1.Seek People Who Disagree With You.

The brain’s default is to find ways to confirm existing beliefs as we find comfort in thinking we know more than we actually do. Great for ego, bad for business. Our tendency to seek out certainty is why we attract people with similar beliefs & interests.

If you want to see things from a different perspective, proactively counteract this by having smart people with opposing views challenge your ideas. This could be a colleague who is different in their approach to solving problems than you (analytical vs creative) or a sounding board of network peers critiquing your ideas.

In this exercise, you are seeking truth, not confirmation.

This is why coaches are great, they force you to challenge beliefs - Mentors will simply share what worked for them.

Be proactive in sourcing these people and use their perspective to avoid pitfalls, prevent mistakes and refine your ideas.

2. Ask For Help.

Entrepreneurs naturally seek out challenges and resistance, it’s in our nature… BUT, it doesn’t have to be that way. Stop the self-sabotage and make your life easier by asking for help. The likelihood that someone has already accomplished what you are looking to do is VERY high, so you don’t need to solve everything yourself; shortcut learning by asking for help.

You have a network, you have peers, you should have coaches/mentors, and you have the internet, where you can practically learn ANYTHING from others.

Knowledge is everywhere… It’s the desire to learn that is scarce. Identify the issue and ask yourself ‘who’ can help solve this problem, as opposed to ‘how’ you can solve it.

TIP: I maintain relationships with peers by asking for their advice in areas they are experts - not only do they receive a dopamine spike from being asked and being in a position to help, but they feel more comfortable asking me to return the favour in the future. The power of reciprocity - you go further together!

3. Inverse. Always Inverse.

Inversion Theory involves looking at a problem or decision from the opposite point of view. Courtesy of the G.O.A.T, Charlie Munger who summarised it by saying - “Tell me where I’m going to die so I don’t go there.”

Creating strategies to solve problems is one of my strengths, but this relies on the problem already existing and me being aware of it. Inversion allows me to use my strength in order to build a strategy based on avoiding failure, thus creating a list of things to avoid at all costs.

Example: You are an online coach who wants more clients. What would your strategy be for losing all your clients?

  • You’d create content that isn’t relevant, actionable or clear.

  • You wouldn’t communicate; missing messages, avoiding calls or attending late.

  • You wouldn’t care about their results, or helping them achieve their goals

  • You would overpromise and then under deliver once you’d been paid

  • You’d spend all your money on yourself, rather than reinvest in yourself and your business.

In doing this exercise, you now have a clear list of things to avoid. Above all else, this keeps you directionally correct and on the right track.

4. Complete A 'Pre-Mortem'

You should be completing post-mortems as part of your business operation as standard; documenting key learnings and lessons in order to avoid repeating mistakes. A pre-mortem is focused on preventing mistakes.

This exercise involves imagining you are 3 months ahead of where you currently are, having made the decision already.

Scenario 1: Things went horribly wrong and were a complete disaster.

Action - Detail extensively all the things that went wrong and possible causes.

Scenario 2: Things went amazingly well and were a great success.

Action - Detail extensively what that looks like, what have been the consequences and causes.

The shift of perspective into long term thinking will get you very clear on what success looks like and the details needed to avoid failure, ensure success, as well as overcome potential blind spots.

TIP - This is a great team exercise to get people brought into a long term-vision.


Summary

Mistakes are inevitable, but you should be trying your hardest to limit them in the first place, and the potential impact. The best approach to avoiding mistakes is to: Seek Truth & Avoid Stupidity

We are so focused on growth and opportunity, the cost of which can be stupidity and failing to prevent the preventable, which we then label as a mistake. The more proactive you are, the more consistency and stability you will build into your business.

A recap:

  1. Seek people who disagree with you.

You need different perspectives to challenge your thinking.

“We question all our beliefs, except for the ones that we really believe in, and those we never think to question” - Orson Scott Card

  1. Ask for help

This is a strength, not a weakness. Rarely is a problem ever that unique that you cannot benefit from another's experience and insight.

  1. Inverse. Always Inverse.

Define stupid as often as you define success in order to avoid complacency.

  1. Complete A Pre-Mortem.

Lengthen your time horizons with long term thinking in order to innovate further than anyone else. Most people work in quarters and years. Think in decades.

That’s all for now! I hope you found this useful.

Stay winning.

Casey.


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