Do Zero-Based Budgeting of the Mind
When determining government appropriations for future years, some politicians recommend, “Zero-based budgeting.” Nothing is sacred in this situation, and there are no programmatic entitlements to funds just because they were appropriated in a prior period.
Similarly, we believe companies are not entitled to do business the old way. Instead, you should be constantly checking to ensure the old way still makes sense and eliminate any commercial preconceptions in your mind; as a result, you can maintain an open mind and be prepared to change the way you think.
Even if you are strongly attached to every aspect of your business, it couldn’t hurt to consider what other options exist.
Although much of what you have learned in the past (particularly from your parents and your schooling) can be applied to your business, you have to be eager to let go of any ideas that no longer make good business sense. You need brain space for newer and better ideas; do not become stuck on the way things used to be or how you wish they were.
This beneficial brainwashing effect is what we call “zero-based budgeting of the mind.” Take nothing for granted and re-examine what will really allow you to accomplish your goals. The details of your industry and your business are what they are, and you must comprehend and accept them. In addition, you must also know the effects you can have on these details and therefore your market at large. The main thing holding back business people is the failure to pay attention to real facts and details; instead, they become stuck on false ideas about what will make them successful. Your mind is your only barrier to success; you can decide to break down that barrier anytime you choose.
