The #1 Chokehold on Your Business

Business Mastery

May 22

#1 Chokehold on Your Business

What’s holding your business back? Can you identify the #1 chokehold on your business? 

At his Business Mastery event, one of the most valuable insights performance coach Tony Robbins shares is how the psychology of the business owner can impact the success of the business.

In fact, he says it’s the #1 chokehold on any business.

“The difference between making it and not is psychology and skill,” says Tony.

“You need them both, and honestly, skill is the smaller of the two.”

What does this mean for business owners?

When a business isn’t growing the way the owner expects, the tendency is to focus exclusively on strategy. And while skills and strategy are important, there is one thing that needs to be addressed before all others: the psychology of the owner.

“80% of the time, the chokehold on the growth of your business is the psychology and skill of the leader.” -Tony Robbins

Why does psychology matter so much?

The reason is simple—most business owners see their business as an extension of their identities. As a result, the business’s growth and success is incredibly linked to what’s going on with you, the business owner.

The danger here is twofold:

1. Businesses are directly impacted by cycles in the economy, so if you are personally invested in your business, your mental and emotional health becomes tied to forces that are completely beyond your control. And in times of volatility in the markets and the economy, like today, that’s a dangerous game to play.

2. On the flip side, if your business is impacted by what’s going on in your personal life, any personal setback like a divorce, a loss or an illness can create problems for your business. The last thing you need when you’re dealing with a big personal challenge is to face similar challenges at work.

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