Almost twenty years ago I joined an accounting firm to set up their corporate finance practice in the North West of England. It was very successful and after a few years I left to set up my own firm.
I wanted to give the
opportunity to join the new division to people who were already employed by the firm and, not surprisingly, the more ambitious, entrepreneurial and self-confident came forward and two of them became the first ‘corporate finance executives’ in the firm.
They had no experience of corporate finance and, in fact, had been trained as auditors.
This taught me a valuable lesson, because auditing and corporate finance are a bit like oil and water – they don’t mix well. Why? At a molecular level oil and water are not in harmonious vibration with each other.
Like auditing and corporate finance, they require a different way of thinking.
For their first six months my new recruits had to unlearn the way they had been taught to think about finance.
This is why success of any significance comes more from unlearning deep-seated ideas and habitual ways of thinking inherited from our environment than it does from learning new
information.
You cannot escape a prison unless you know you're in one. And ignorance is a prison.
Take how to profitably market a small business for example. It's completely counter-intuitive to how 99% of business owners think it should be done, as the Entrepreneurs Circle
has shown, and it shows in their results.
Or to really understand your business numbers. Most business owners rely on their accountant to produce their accounts sometime after their year, and it shows in their results.
Or to become super-successful. It is no coincidence that only 5% of entrepreneurs
are millionaires or getting there.
Most entrepreneurs have deep-seated ideas and habitual ways of thinking inherited from their environment. Until you are willing to unlearn and let go of what you knew, to relearn from those who have demonstrated, by their results, they know what they are talking about success will be
elusive.
If you are ready to unlearn the habits that are holding you back you know what to do.
To your success.
Noel
Guilford