MINDSET -vs- SKILLSET

Todd Ballenger
October 25, 2024

❝

"Whether you think you can
or you think you can’t,
you’re right."

Henry Ford

Alchemy of Self - Deep Mindset Dives

Podcast · Todd Ballenger · As a CONTINUUM, the "Alchemy of Self" implies the transformative process of personal growth, akin to how alchemists sought to turn base metals into gold. In a metaphorical sense, it refers to the refinement of the human spirit, mind, and potential, often through self-discovery, learning, and spiritual or psychological evolution. In this podcast, both famous and little-known texts about money, spirituality, and psychology are transformed into AI-based conversations to aid in your digestion of profound insights that lead to very real personal growth.

open.spotify.com/show/041a4U1hpQPY5kirEDeoqO?si=b174bb163da44822

Most people in business? They’re obsessed with skills. Skills are valuable. But too many professionals are investing 90% of their effort in leveling up their skillset and maybe 10% on their mindset—and then they wonder why they’re stuck… all ‘stuckness’ is relative. If you are having your best year ever, you can still be stuck at a new level of incompetence, that’s call the Peter Principle.

Your Mindset is the Operating System, Skills are the Apps

Think about it like this: your mindset is your operating system. If it’s an outdated version of you, it doesn’t matter how many new apps (skills) you download—your performance will always be capped. You can have every tool in the book, but if your mental framework is lagging, you’re gonna keep running into the same obstacles. Tools or frameworks won’t magically lift you to the next level because you are trying to play the newest version of Fortnite on an Atari.

If you want sustainable growth, the real ROI comes from upgrading your OS—your mindset. I’m talking about your ability to make big decisions, handle failures, leverage opportunities, and operate under uncertainty. Without a high-performing mindset, every new skill you pick up only offers you a fraction of its potential.

Stop Fixing the Wrong Problems

People hit a plateau, and the first thing they do? They think, “Maybe if I just learn one more thing, I’ll break through.” That can be true, but if you are only learning skills - here’s the truth: skills aren’t the reason they’re plateauing; your thinking is. When your mind isn’t evolving, you end up repeating the same mistakes, just in more complex ways. You start to think the problem is always external. “If only I had more resources,” or “if only my industry wasn’t so tough right now.” But that’s not it. You are trying to solve internal limits with external solutions.

An Evolving Mindset + Evolving Skillset = Unstoppable

If you really want to stand out, start putting as much time into developing your mindset as you do into building your skills. Make self-reflection a daily habit. Challenge your beliefs regularly. Invest in your mental processes—how you approach problems, your openness to feedback, your resilience.

Skills will help you compete, but mindset will help you dominate.

I’m making it easy for you, in my most ambitious project to date I’m taking every book I’ve read and making it accessible to you as short form podcasts.

IF you listen to one per day, I guarantee you that you will not recognize your current self 6 months from now.

a BORROW SMART CONCEPT
Digging Deep, but Dig the Right Hole for You

"If you dig a hole and it's in the wrong place, digging it deeper isn't going to help."

Source: The Left-Handed Designer

We focus on digging one or two deep holes, but you have to figure out the right hole for you to dig as well, otherwise, why go deeper? How do you know you are in the right hole?

Three Questions:

What holes are you digging?
Why are you digging them?
How do you know it’s the right hole?

LIABILITIES and DEBT
What’s Happening.

No time for chart commentary this week, will expand next week…

“The mind is everything. What you think you become."

- Buddha

REAL ESTATE
What’s Happening?

Frozen Homes

John Mauldin reviews the housing market.

www.mauldineconomics.com/frontlinethoughts/frozen-homes?utm_source=borrowsmart.beehiiv.com&utm_medium=referral&utm_campaign=mindset-vs-skillet

Big improvement in sentiment this past week for real estate (negative for rates)

“Your mindset matters. It affects everything—from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall well-being."

- Peter Diamandis