Why Running a business is difficult PT 2
Mastering new skills isn’t easy
I recently learnt about the concept of the hierarchy of skills development or competence. I learnt this from Leila Hormozi in her video titled “How to go from $0 to Millionaire [33 minutes training]”
There are apparently 4 levels to developing a skill
- Unconscious incompetence — at this stage you’re not very good and you don’t know it
- Conscious incompetence — in this phase the individual is aware of their lack of knowledge or skill in a particular area and wants to improve.
- Conscious competence — here the individual knows how to do something, but it requires effort and concentration.
- Unconscious incompetence — The individual has had so much practice with a skill that it has become "second nature" and can be performed easily.
Risk of Failure
- Conscious incompetence is the most difficult part of learning a new skill and this is the point where many can end up failing.
- Its difficult to move from a phase of unconscious incompetence, a state of zeal and blissful ignorance to suddenly realising that there is still so much to learn
Results at the 4 phases of skill acquisition
- Variable results
- Variable results
- Variable results ( better success rate)
- Consistent results
You only start experiencing consistent results at the last end of the learning cycle. Not many people make it there
Conclusion
The process of learning new skills is difficult and only few push through to the other side of competence, consistent results and a healthy and profitable business.
Why this matters
Entrepreneurship is considered an alternative to a traditional 9 to 5 job. It is important for people who are actively thinking about entrepreneurship as a career path to know what they are getting themselves into.
You can check out pt 1 now
