Why Lottery Winners Go Broke

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You might be running your business just like the person who bought a lottery ticket. You’re hoping that you’ll hit the jackpot one day and sell out. When it comes to your business, both winners and losers have the same goals, but winners have systems that help them get there instead of relying on luck or chance. We talk about why setting up systems is more important than setting goals and how systems help you build a health and successful business.

In this episode, we’ll share:

  • Why people who win the lottery, just like entrepreneurs who sell their business, are often unhappy
  • The concept of Entrepreneurial Poverty that some entrepreneurs are stuck in and unhappy
  • The importance of systems to run a healthy business and how it can differentiate winners from losers
  • The difference between systems and goals and why systems have more to do with your success
  • The 3 main areas of your business that should have systems: Sales and Marketing, Administration and Finance, and Operations and Service Delivery
  • Why you should apply a systems approach to both your personal and professional life

More information

Atomic Habits: An Easy & Proven Way to Build Good Habits and Break Bad Ones by James Clear

Here’s why lottery winners go broke, Abigail Hess, CNBC

You might also be interested in the other episodes we mention in this podcast:

  • How a 1% Improvement Makes You 37 Times Better in English or Arabic
  • Infancy, Adolescence, and Maturity Stages for the Entrepreneur in English or Arabic

Visit our website to learn more about this podcast www.Riadi.me

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