He had gone into business because he loved what he did and he wanted to be his own boss. But…his enthusiasm for it was quickly draining away. Money, time and team issues were just some of the things he was struggling with.
Out of curiosity, I asked him how much training and coaching he had invested in to help him understand how to build a business. He replied that he’d had no training or coaching.
“Aah,” I said, “You’re paying ‘Ignorance Tax’!”
“What’s ‘Ignorance Tax’?” he asked curiously. (No, he didn’t punch me in the face for being so direct. :) )
I replied, “Basically, ‘Ignorance Tax’ is the cost to you of not knowing something. For instance, it could be the:
- difference between what money you’re earning and what you could be earning
- extra time it takes you to succeed because you’ve decided to learn from your mistakes rather than getting training and coaching
- extra frustration, stress and energy you’ve had to spend learning things the hard way.”
“And you’re not alone,” I reassured him.
It’s odd the way we recognise the need to get qualifications for what we do as a trade or profession and yet attempt some of the other important things in life as amateurs and expect to get great results, isn’t it?
For instance, have you ever:
- Got into personal relationships (dating, marriage, parenthood) without relationship training beyond what you’ve discovered haphazardly from your family and friends etc.?
- Delivered important presentations without presentation skills training?
- Tried to become more confident without knowing how your mind and emotions work?
- Become a manager without training in how to bring the best out in a team?
- Or…?
If so, what level of ‘Ignorance Tax’ has that cost you in time, money and stress?
This Week’s Action Point
‘Life’s too short to learn from all your mistakes.’ Your mission, should you choose to accept, is to identify where a lack of training or coaching is costing you too much ‘Ignorance Tax’ and take steps to avoid paying it. Below are a few ideas.
Want to stop paying ‘Ignorance Tax’? Click on these workshop and coaching investments:
- Time for Success – Time Management Workshop, Thursday July 10, Cambridge
- Handling Difficult Conversations Assertively, Thursday August 14, Cambridge
- 1-2-1 Complimentary Coaching Discovery Session, just email me: madeleine@growu.co.uk
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