Navigating The Market Of Beliefs

I stumbled upon a thought-provoking short story that has lingered in my mind for quite some time. It’s a simple tale, but it carries a profound message. Here’s how it goes:

There was a man who lived by the side of the road and sold hot dogs. He was hard of hearing, so he had no radio. He had trouble with his eyes, so he read no newspapers. But he sold good hot dogs. He put up signs on the highway telling everyone how good they were. He stood on the side of the road and cried, “Buy a hot dog, mister!” And people bought. He increased his meat and bun orders, bought a bigger stove to take care of his trade, and even got his son home from college to help him out.

Then something happened. His son said, “Father, haven’t you been listening to the radio? Haven’t you been reading the newspaper? There’s a big depression. The European situation is terrible. The domestic situation is worse.”

Upon hearing this, the father thought, “Well, my son’s been to college. He reads the papers and listens to the radio, and he ought to know.” So, the father cut down on his meat and bun orders, took down his signs, and no longer bothered to stand on the highway to sell his hot dogs.

His hot dog sales fell almost overnight.

“You’re sure right, son” the father said, “we certainly are in the middle of a great depression.”

This is a story about self-inflicted hardship. Sure, there may have been some economic trouble brewing, but unfortunately, when you pull back on spending and supply, you're guaranteed to set yourself up for issues. If you stop selling, naturally, your sales will drop.

I don’t know about you, but whenever I find myself subjected to ten minutes of the news, I often feel like I should be looking for a bunker somewhere and preparing for subsistence farming. It has that kind of effect, and it can’t help but influence our actions. The more we take in that kind of information, the more it shapes how we respond.

We often hear from credible sources, like economists, that something disastrous is coming. I can’t count how many times I heard over the last year that a “financial hurricane” was on the way from those in positions of authority. Well, guess what? It wasn’t true. A lot of people made significant decisions based on those warnings, and for the country as a whole, it simply didn’t materialize.

As we absorb these messages, we must ask ourselves how they make us feel and how they impact the quality and quantity of our actions. Are they motivating us positively, or are they inhibiting our progress?

This brings us to the concept of limiting beliefs and thought viruses that seep into our minds.

In any market, there’s always an opportunity - what I like to call the “market of the moment.” Even during a recession, there are ways to adapt and take advantage of the situation. Yet so often, negative messaging and pessimism don’t inspire new action; they paralyze us.

This is where Oprah’s words resonate: “We don’t get what we want; we get what we believe.” If we allow limiting beliefs to take root, we find ourselves stuck in a mindset that restricts our potential.

Consider the factors at play: we don’t control the Treasury, the Federal Reserve, or corporate decisions that impact markets. What we do control is how we choose to act in response to these external forces.

Belief is not a single idea, it’s a spectrum. On a scale from one to a hundred, where do you stand? The degree of your belief significantly impacts how you approach challenges. Even a 1% belief opens the door to new possibilities and information.

We must believe in several things: the outcome we desire, its potential effect, our ability to execute the necessary strategies, the efficacy of those strategies, and our worthiness to attain that outcome.

If one of those beliefs falters, it can derail our progress.

Think about those who achieve greatness. It’s not about wishing for success; it’s about an unwavering commitment to their path. It’s their absolute dedication that aligns all these belief factors, creating a powerful synergy that propels them forward.

However, we must be cautious about trying to impose our beliefs on others. Our beliefs are often built on a foundation of personal experience and rich context. Simply telling someone to believe in something doesn’t work. Instead, invite them into the process of belief-building.

In summary, belief is powerful. When you genuinely believe in something, it attracts others. It inspires curiosity and openness, inviting them to take the next step, however small it may be. So, let’s be mindful of the beliefs we hold and how they shape our actions. After all, it’s not just about selling hot dogs; it’s about selling ourselves on the possibilities that lie ahead.

- Joe

Joe Arroyo is the expert on recruiting, selecting, training, and retaining world-class talent. As CEO of Vision Architect and Convert, him & his team have been "building business by building people” since 2001.

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