The Misconceptions of Success

The Misconceptions of Success


There are a number of major misconceptions regarding success, especially when it pertains to wealth, and these misconceptions can act as potential stumbling blocks to one’s ability to achieve financial success. Understanding and addressing these misconceptions is key if one is to develop the right mental attitude that is crucial for success.

Myth 1: You need money to make money

Firstly, there is the widely held misconception to make money; you already need to have money. While this may be true in some circumstances, one could also pose the counter argument that there are numerous cases of entrepreneurs  who have built successful business empires by starting virtually from scratch with little or no funds and are where they are today simply as a result of their determination and vision.

This misconception is so pervasive that it stops many people from even attempting to pursue their dreams because they truly believe that they need to accumulate the amount of money they need first before acting on their ideas. This causes so many to delay that often times the idea fizzles out, and  by the time they get to implementing their ideas, it is already too late and someone else has already  ran with the idea. If you have a dream, vision, idea or goal start from where you are and do something daily towards the attainment of that goal. The significant success factor for any goal is not money but rather creativity and determination. Once you get the ball rolling, you will be amazed at how the pieces will begin to fall in place. Determination not money is the more valuable currency that is vital to the accomplishment of any goal,

Myth 2: The ability to amass wealth is limited to a few

Secondly, there is the mistaken belief that the ability to amass wealth is limited only to the select few that are highly intelligent, privileged and well-educated. This is completely untrue. Conduct a quick analysis of the most successful people in the world and you will find that they come from all walks of life. Aside from commitment and belief, the only things they have in common is that they have nothing in common. Success is no respecter of creed, race or circumstance. Some of the richest people in the world never even completed high school not to mention attaining a university degree or diploma.  Some of them started from nothing, with nothing, while many of them could be considered people of average intelligence. However, what they lacked for in ‘high IQ’ was more than compensated for by their belief, motivation and determination.

Myth 3: Success requires luck

Finally, there is the misconception that to be successful, you have to have luck on your side. Yes, some people where at the right place at the right time; unfortunately, such people constitute a tiny fraction. Many successful entrepreneurs have had to work at their vision sometimes for years until their goals were achieved. By and large, most successful people have had to be committed and apply themselves consistently for many years to get to where they are. In life, the harder you work and the more committed you are, the luckier you get.

The misconceptions regarding success prevent us from becoming who we need to become to achieve the goals we desire to achieve in our lives. Often times, what starts out as a misconception, evolves into a subconscious justification for our inaction and eventually the death of our dreams.

The question is whether or not we are willing to become more – mentally, emotionally and physically, in order to achieve more out of life. To achieve profound success, we must push past the misconceptions and focus only on becoming who we need to be in order to have what we need to have.

Femi Adebanji
Femi Adebanji is the director of the Mind-Advance Institute and a sought-after speaker and motivator. As a performance consultant he works with individuals and companies to design plans of action to realise their potential, achieve their goals, become more effective and maximise performance. He holds a Masters degree in Financial Economics and an Honors degree in Economics. For more information visit the Mind Advance website.
  • I am very lucky in my business.
    The hareder I work the luckier I get.
    There are a few things that I found out.
    1. You must have a good product.
    2. Give the best service you can, the very best, nothing less.
    3. Your price must be right.
    4. Many businesses are cyclical. Make sure you understand this.
    5. In what market are you? It is no use to go into the cellphone business late. You can, but then all the other parameters must be correct.
    We came into a very mature market but our products are the best. And the customers were very satisfied. And we added extras to make it easier for them to use our product. Today they prefer ours.
    You have to work hard to get it off the ground. No other way.
    For every potential customer that says no, the one saying yes is nearer.
    Once your sales get off the ground, the satisfied customers will tell about it.