The Self-Defeat Phenomenon.

I've seen it today more than ever before. Here's how it works, and how it might be holding you back:
The phenomenon was first described by researchers Stephen Berglas and Edward Jones in a 1978.

They called it self handicapping and their study was fascinating...
They gave students unsolvable and solvable puzzles.

Then after said they'd done well.

Those with the unsolvable puzzle were confused, they failed? They were nervous, uncomfortable.
Next the students were asked if they wanted to take a performance-enhancing or inhibiting drug before taking another test.

70% who had the unsolvable anagrams asked for performance-inhibiting drug, while just 13 percent of those with the solvable puzzle.
Why?

Then if they failed again they could blame something else. Protecting the ego at all costs.
This trend has reared its ugly head again and again in my interactions.

In the comments of posts, in the retweets, in the replies to emails. I call it the self-defeat phenomenon.

Phenomenon: People who want success stop themselves from getting it.
Here is a truth I’ve come to see: Most do not believe they can do big things.

Hard to believe that the things others have accomplished are available to most.

And when you tell them they really can, you create a discord like a bad note on a guitar string.
The note creates a terrible sound, a ringing screech, compared with all the notes they’ve heard in their life

And b/c no one wants to rewrite the song of their life to go to a higher level, you sound to them like a liar or a deceiver, instead of a believer in their abilities
We had a video go pretty viral w/ 15.6 million views on Tik Tok. It was about vending machines. While the comments were mostly positive, the resounding ones were:

"NOOOOOOO, this is fake. It can’t be true. I’ve done it and it didn’t work that way!"
The tough part, I’d seen the guy’s financials.

He’d let me peruse what he was building. Unless he cooked the books (unlikely) he was telling the truth.

But the discordant sound was ringing in people’s ears.

Why?
Because if they failed, it wasn’t because they messed up...

It was because it was impossible.

This is called cognitive bias:

"I believe this and thus I will only listen to things that confirm my beliefs."

It’s the foundation of much that is wrong in our world today.
So I want to leave you with something here:

Can you try one for change for me this week? One simple tweak.
Instead of seeing something and saying “THIS WON’T WORK, OR NOT FOR ME!” ask instead, “How could this work for me?”

You might just surprise yourself with what you’re capable of, and what the world can offer you.

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More from @Codie_Sanchez

12 Jan
How to get rich rapidly?
Live like you're poor.

11 ways I still live cheaply so $ is never a worry...
Airbnb Even When You Don't Need To:
- for as long as I can remember, I've rented out my house (for at least some portion) on Airbnb
- now I do it for all my properties

Yes even my main house. (weird to say "main house" outload - rich ppl sh*t).
Always Ask for Discount:

I used to think it was cheap to ask for discounts almost constantly. I thought it made me look poor. Then I traveled with my partner at my PE fund and he did it nonstop.

His reason - "No one does it, so more often than not, you'll get one."
Read 13 tweets
11 Jan
One of my weirdest angel investments (a fortune cookie company), made me $300k in 4 years w/ a $25k investment.

Here's what happened...
I was friends with the founders.

Kinda thought the idea was meh (ads inside fortune cookies).

But I liked the guys, they'd won before with this product (ha) and I said I'd do it so I invested. Image
Very few updates from them, no real big wins or revenue hit.

I actually (sorry guys) wrote the investment off as a $0.
Read 7 tweets
9 Jan
New faces... a bit of backstory -> I was burned out in finance, working on someone else's schedule, tired of having my time tied to money.

So I started investing in cash-flowing biz's.

Not sexy startups, but boring, everyday businesses.
One of my fav businesses early, easy to startup not a ton of capital biz's = laundromats

They are often overlooked for the returns you can get

One of mine netted $67k a year after I bought it for $100k
I asked myself:
How could I work when I want, where I want and on what I want?

Problem:
I'm not smart enough to create the next Tesla, Bitcoin, FB, etc.
Read 9 tweets
7 Jan
How a 28-year-old turned garbage into a $67.5 billion-dollar company:

No college degree, no VC funding, one secret:
Picture this... It’s 1962 (eek 59 years ago) and you’re fresh out of the army.

You’ve got only a high school diploma to your name. No hard skills. And you’ve certainly got no money.

Anyone with a brain would first lock down a job, right?
Not this guy.

Meet Harry Wayne Huizenga. Founder of Waste Management, who went from college dropout to building the world's largest garbage company.

They did $15Billion in revenue just in 2020.

One man's trash right?
Read 17 tweets
3 Jan
You guys want me to tell you all the businesses I own?

My lil baby Berkshire (ha wishful thinking) of 30ish biz's in the making...
Disclaimer:
Not a billionaire.

A lady asked me once, "How does it feel to be rich."

I chuckled. I guess teen Codie would think I was rich. Feels weird.

I still worry about $. I DO pinch myself I haven't had debit card balance go negative in a long time. 🤷‍♀️
Ok well then.. first up one of my very first companies...

Fortune cookie marketing firm.

Yup, that's a real thing. You know those ads in fortune cookies. That's a biz I own part of.
Read 24 tweets
30 Dec 21
My biggest losses of 2021 and the lessons I learned from losing 2 commas:
I had a hell of a year, made 0’s, grew to 1 million followers across platforms, bought a bunch of biz’s but I made some big mistakes, and big losses came with them.

Everyone's doing EOY lessons. I’ll share my painful ones.. bc I haven’t yet met a perfect human.
Played A Long Term Game w/ a Short Term Person

One of my deal partners was how do I say this nicely? A narcissistic d*ck.
I knew it BUT I did it anyway bc of the deal.

Had to walk away. He’ll take upside & use my name🤦‍♀️
As Naval says, “long term games w/ long term PEOPLE.”
Read 15 tweets

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