Our hidden assumptions often limit us in what we can achieve. Check out this easy and entertaining video, Marshmello Challenge, a TED talk addressing this issue.
The video concludes that our hidden assumptions often limit our results. Recent graduates of business school underperform recent graduates of Kindergarten. Business school graduates are taught to find the single best answer and often spend a lot of time in the predevelopment stage using all their assumptions as to what will work.
The kids keep their focus on the marshmello and make several attempts, often failing, but eventually getting to something that works.
What assumptions about your financial situation are holding you back? I often hear the following from my clients:
1) I’ll never get out of debt
2) I’ll never be able to buy a house
3) We never have enough at the end of the month
Assumptions are usually based on
1) Current situation
2) Past performance
Our assumptions are legitimate, we don’t need to fight them. But, if we don’t do any thought work they have three affects:
1) We find evidence to reinforce these thoughts.
2) They grow to the point that they become facts.
3) We don’t take any action, we don’t get any different financial results?
I recommend challenging our hidden assumptions by going three our four steps beyond the desired result. Let me explain with a metaphor.
Short distance runners don’t focus on the finish line but on an object several feet beyond the finish line. This ensure they are still running full speed when they finish.
If you want to buy a house, work towards buying a house and two rentals. If you want to get out of debt work towards getting out of debt and saving $15,000.
This makes obtaining the original result so much easier. The original item just becomes a to-do on the list to the higher objective.