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The Foundation Of A Growth Mindset Is Just Guesses And Bets

Every entrepreneur would love to be able to predict the future, but of course it’s impossible. The future is always being created by every human being on the planet every day making guesses and bets about their individual future. There's no way of understanding or even detecting what kind of guesses and bets eight billion people are making today, when they weren’t even thinking about it yesterday. In this episode, business coaches Dan Sullivan and Shannon Waller explain the importance of understanding why it’s all about guessing and betting, and how you can make the best guesses and bets for business success and business growth in your future.

Here's some of what you'll learn in this episode:

  • Why we’ll never get beyond technology just being reactive.
  • Why artificial intelligence is based on the past, not the future.
  • The big bet that Dan and Babs made before starting The Strategic Coach® Program in 1989.
  • How to find team members you don’t have to manage, monitor, or motivate.

Show Notes:

Humans have always had a desire to predict the future.

Technology can’t be superior to the human thinking that goes into it.

An entrepreneur betting on something means they commit their time, their activity, and in some cases, their money to a particular activity.

People have far more freedom on an individual basis now than they did a century ago.

Individual team members need to take themselves at least as seriously as management does.

Predictions are just guessing and betting based on what’s happened up until now.

You’re making a guess and a bet when you hire a team member.

If you look into how a technology is created, you know what to expect from it and what not to expect.

A great team member has to be great at what they do and great at playing with others.

Some people strive for a role they aren’t good at because in their minds it has higher status.


Unique Ability

Capitalism—And Everything Else by Dan Sullivan

The Self-Managing Company by Dan Sullivan

Unique Ability® 2.0: Discovery by Catherine Nomura, Julia Waller, and Shannon Waller

Multiplication By Subtraction by Shannon Waller

Episode Transcript:
Shannon Waller: Hi. Shannon Waller here, and welcome to Inside Strategic Coach with Dan Sullivan.
Dan, as part of the subject of our latest book that we're working on, you have talked about something that I find totally interesting and fascinating, and that is guesses and bets. And you made a reference to it in our company meeting recently.
One of the bets that you'd made, and guesses that you'd made, was about Unique Ability and how that impacted our company. So we'll pull that apart a little bit, but could you please talk about guesses and bets? Because it is such a cool, I'm going to say, for me, healthy way to look at the future, and it takes some of the angst out of things. So, let's talk about guesses and bets.
Dan Sullivan: Yeah. Well, this is a topic that is very front and center these days because of a belief in certain circles that the capabilities of technology are such that you can now start predicting the future with technology. In other words, it can make, with great certainty, that things are going to happen this way.
And I think it's silly. I think it's very, very silly because the creators of the technology are guessing on something. They're guessing that this particular technology, their particular approach to technology, is better than any other technology. And that somehow technology has an intelligence that can predict the future.
And my sense is that the technology will not be able to predict the future in anything that's different from the thermostat in your house, noticing that it's dropped below a certain temperature and it's time to adjust the heat. So I don't think we ever get beyond the fact where technology is just reactive. And the reason is that the programming of technology all comes from human beings who are making guesses and bets on the technology.