If you have your own business or are thinking about starting one, you might know that it is a lifelong learning journey. It’s not a one and done thing. You have to consistently and repeatedly work to achieve new tasks and new goals. Jacinta Outlaw, a behavioural economist of Fifth Element, offers some insight into the learning process for entrepreneurs.
As a child, we are told things numerous times because we are unaware of the consequences. As an adult, we should be aware and able to notice these consequences as we assess our decisions. So why do we need to consistently learn in business if we should know already what the outcome would be?
Jacinta gave the analogy of learning in business in terms of boats. One way is like a big tanker. You can stay close to your original process, repeat the same things over and over again in hopes to land the right client. Or you can use a speed boat approach. This approach would allow you to adapt and change as you continuously tweak your methods in response to customers and situations.
We may think that since we are adults, we would know what the outcomes of our actions will be. However, if we put one of these two boats into practice and we consistently repeat these tasks, we can steer that outcome towards success! Consistency should be your number one priority. Whether you are practicing the same methods to have it become second nature to you (the tanker) or if you are altering it each time to perfect it (the speedboat), consistency in showing up allows you to form good habits, learn and grow.
One thing that we should always be aware of in business, is that nothing is stable. Our plans in business may not go as we wish, but if we keep planning, we learn to understand the situation and respond to it. It is important to keep learning and to continue to repeat and adjust our methods whenever new circumstances arise. As Dwight Eisenhower once said, “Plans are useless, but planning is essential”.
This blog is based predominantly on the information given during The Stronger Than My Excuses Show: Repetition…The importance of repeated learning and doing. Watch the full episode here: https://www.youtube.com/watch?v=4_D04vbaLSg&feature=youtu.be