554: Boss Talk: How Finite Thinking is Boxing You In

It’s been a while since we’ve done a Boss Talk Strategy Hour Edition of the podcast. Usually, we bring on a guest but, today, it’s just us, and we’re discussing how finite thinking might be boxing you in. Simon Sinek famously tells the story of when Blockbuster’s board of directors viewed Netflix’s subscription model in the early 2000s. The CEO of Blockbuster said, “We must change our subscription model to compete, as streaming services are guaranteed to increase.” He was rejected by the board because Blockbuster earned 12 percent of its annual revenue from late fees and, well, you know the rest of the story. Blockbuster is no more and Netflix is the dominant force in the market. Why did Blockbuster turn down explosive growth and the chance to remain relevant for just 12 percent of their revenue? Well, by focusing on short-term, fixed goals, they inhibited their growth because they were blind to their long-term vision. Making decisions based on what is working for you right now isn’t the best strategy if you want to continue to innovate and scale your business. While it may seem scary, embracing an infinite mindset and basing your decisions on where you want to be is the key to success in an ever-changing world. In this episode, we share some of the surprising influencers in your business that could be distracting you from making CEO decisions, how to execute based on where you want to be versus where you are today, and when to shift from finite thinking to future-focused thinking. We also highlight the importance of trusting your intuition, not letting your goals hold you back, and taking your future into your own hands, so make sure to tune in today! Thank you for listening! Please subscribe, rate and review The Strategy Hour Podcast on iTunes. Ratings and reviews are extremely helpful and greatly appreciated. For show notes go to thestrategyhour.com.