12 Reasons Why Smart People Fail in Business
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- เผยแพร่เมื่อ 31 พ.ค. 2024
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There are a lot of smart people that come up to me and say, "Pat, this business thing is a piece of cake. I'm an executive, and I have a degree from XYZ. I'm thinking about being a business owner, and it's going to be so easy for me." They go in extremely arrogant and cocky. Then then boom, they fail, and then they wonder why. So in the video I get into 12 reasons why smart people fail in business.
#1: Shoshin Disappears - 1:41
#2: Too Conservative - 3:44
#3: Over Promise, Under Deliver - 4:53
#4: Fact-Driven - 7:10
#5: Me Mentality - 10:33
#6: Entitlement - 13:39
#7: Won't Admit Mistakes - 17:14
#8: Lack of Selling Vision - 18:44
#9: Outsmart Hard Work - 18:55
#10: No High Road - 21:32
#11: Fear of Adapting - 23:39
#12: Not Getting Hands Dirty - 25:07
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This talk moved me to subscribe.
Your simply amazing!
Very informative...hard pill to swallow but I liked it...
@@zac3392 p
If you're the smartest in the room, find another room.
there is always another room. If you cant find it you arent smart enough.
So very true
King Me Now yeah, because you always need to learn. Going to a room with someone smarter than you allows you to earn more
damn.
powerful
Hello Patrick sir, I am 15 years old and every video of Valuetainment is better than 1000 lectures at school. Thanks sir for putting up great content
+Prabhsharan Singh keep learning. You'll have an edge on me. I wish I had access to a Valuetainment channel when I was 15. Rock the world.
Prabhsharan Singh man thats nice I started watching a while ago too...and I'm 15 and this knowledge you can't get enough
I'm also a 15 year old watching. cheers to the next young entrepreneurs 😁
Prabhsharan Singh man do you have a snap we can talk on and see and help each other or Instagram or messenger
I'm 11 and agreed
"If you're the smartest person in the room, you're in the wrong room."
"Have no fear of perfection - you'll never reach it." - Salvador Dali
I mean this is kinda counter intuitive,there has to be the smartest person in the room at any point
This dude should be at 10 million subscribers already.
Pewdiepie has 50M+ subscribers and valuetainment has 235563. This is the reason why most people will not be rich!
^ so damn true
Hasnain Abbas Dilawar it's all about priorities and what people want out of life. People don't realize how valuable this information is. Like they are people that pay hundreds of dollars to go to entrepreneur events and listen to the same type speeches. Same with online webinars. Like a lot people don't take advantage of the information and tools we have access to. Life is all about perspective.
Paul Neff but guess what? Tai Lopez has more subscribers than him.
I subscribed to your website because I get asked questions on how to do certain things so I do a lot of research and I came across your videos. I shared a few of them on Facebook letting people know if they need and type in your information they may want to check out valuetainment with Patrick. I am new to the technology. I spent most of my time searching on how to invest in real estate and by real estate I thought about being a real estate agent but did not have the money for that neither so I kept researching I'm glad to tell you that 2014 I purchase my first home as a single mom with one job because I was able to do it when the market drop.
One of my strongest values is the willingness to get your hands dirty, which, I think goes along with having a beginner mentality. I love both of those concepts!
As a smart, yet humble guy myself, this was a big wake-up call and a source of assurance for me.
Thank you so much Patrick for making this video. I don't know where I'd be without watching this.
Man, thanks a lot for the lecture.. I'm 24 just promoted as a CEO for this small company. I started here in this company as a writer, now I can do a lot of things and I'm the CEO of the company in just 5 months. And your vids are just inspiring, thanks for everything, Man!
...holy crap. Could you perhaps give me any tips?
does ur company has 2 people in it?
@@sarcoidosis7271 won't be surprised 😂😂
CEO? Is nt is that most of the time the owner tittle ?
Congrats
Very educative eye opener. The humility of admitting you're not as good as you think you are and staying in learning mode is priceless. Thanks Pat for always giving value.
"12 Reasons Why Arrogant People Fail In Business: The Value of Humility"
Best comment!👏🏻
I see a lot of arrogant peopl that are sucessful in business.
My god thank you, I like this guy, but by attributing all these negative attributes to so called “smart” people, boy does he show his lack of education. Does he mean smart people like ray Dalio or Jordan Peterson? That he had on his show and asked their advice? I mean cmon man, talk about low resolution arguments.
@@Vgallo I think you would find Jordan Peterson agree with alot of this.
But also
Your right.
It's a generalisation.
It's offensive.
It punches any inteligent persons ego.
Iv got a 143iq.
I'm 22.
And IV tripped up on 2-3 of these in the past.
He's not saying every smart person is all 12 of theese.
He's outlining the common areas where smarter people have a higher probability of slipping up.
john mclean it’s not just a generalisation, it’s vague and naive, but when you know little about a topic, like psychology, the easier it is to weave a superficially coherent narrative, but underneath the superficial veneer, it’s completely hollow. There’s no way Jp would agree with this amateur hour psychology, it’s got nothing to do with bruised egos, but solely about the lack of any foundational understanding. When you don’t know shit about a topic, don’t make videos pretending you do, but this is the problem with ignorance, those that are believe they’re anything but, whereas those that are learned, become painfully aware of how pervasive and widespread their ignorance is.
My grandfather dropped out of school in the Netherlands in 6th grade. At age 19, he hopped on a boat to America, joined the US army, and got his American citizenship while building a new life for himself. He never thought of himself as smart, but I'll be the first to tell you how well he could read people, work hard, and be creative. Fast forward a few decades. His love for Holland inspired him to bring Friesian horses to North America, which turned into an incredible business. Twenty years ago, he turned down a half million dollar offer to sell one of his horses. And that was just one. ;) I love how this video reinforced everything I knew in my heart to be true, yet would never be taught in school. Thank you.
I think this video addresses arrogant and ignorant people, rather than smart people. Truly smart people are very aware of how much they know and how much they don't know, and are not afraid to admit that the latter is usually greater.
Basically smart people need to humble down. Another great lesson today Pat!
Most smart ppl are humble, not all.. cockyness is sign of stupidness
As a smart man, this speaks to me.
Humble down, yes.
Stupidity, I disagree.
I would call it lack of Emotional intelligence. I thought I was untouchable.
Man, was I wrong!
Great video! 🙏🏻
wrong
when u become full of yourself and you stop learning and growing you are dead in business
joe low , amen. Pride comes before the fall.
Not just in business but in everything.
TheHedge “Pride goes before destruction, and a haughty spirit before a fall...”
(Sorry I can’t stop myself 😆)
love the way u speak about your kids ..😀.. awesome video.. overflowing with passion n gratitude.
Attitude is the best gratitude. You have no idea how much your life changes surrounding yourself who not only lead by example but also help others succeed.
Hello mr Patrick and the Valuetainment crew, I am a 14yr old future entrepreneur. One day i was sitting in my room and thought to myself 'I want to punch my own clock on my OWN time and be my own boss' and thats when i came to the conclusion this was the route for me to go. Some Of the things in the video really Made Me re-evaluate Myself and I'd Like to thank you very much, Because not many people will take the time to guide others And Demonstrate how they got their success. Next year i will be taking Entrepreneurship and Buisness Communication Classes Thanx alot.!
It's great you recognize these things at your age! Most people have 3 or 4 jobs they hate and then realize they want to punch their own clock. You have a great mindset and with hard work and the right preparation your possibilities are limitless!!
Pat you just opened my eyes today, thank you so much!!!!
This is one of the videos we need to watch when we feel like we are going through the motions too. Definitely a wake up call. Great video Patrick. Thank you.Looking forward to the next one.
“I have to earn their respect first.” First 2 min. Something I really needed to hear today. Thank you.
My grandfather always said give a doctor (smart person) a screwdriver ,he doesn't know what you all can do with it! Because they to much in the books or they already know what to know
my lesson was...
A person can be smart in some fields but not in all! Be humble to all and don't forget Earth -strongest object in our world
Love your energie! Getting fired up in telling a story.
Showing your real honest feeling is rare to see on TH-cam. Keep on going!
I can't believe your channel didn't hit 1million subscribers yet...you guys are doing some unbelievable stuff keep up the good work
*reads title*... Fuck!
MrAce same! :D
Don't ever call yourself smart, otherwise you'll miss the best opportunities
AI will disrupt capitalism significantly.. be prepared!
Kiwi Hi, what ways can we expect to see in the next 5 years? Low skilled workers being replaced by computers? I.e. cahsiers
Kiwi It was a joke ffs.
I'm just discovering you and your videos and man, I just want to thank you for this. I really needed this video.
2nd to last bubble - great point! Makes me look at myself more and realize I need to keep growing and adapting! Thank you!
So what you are talking about is not smart; it is ego. A lot of smart people do not understand that people operate under a different logic from the rest of the world. Smart people like change.
lol, only care to serve humanity. You must be deluded. The only reason this channel exists is because every one of us wants to be rich. If creating a successful business meant you'd make less money than the average US salary, very few would bother.
Dude you didn’t have to destroy them like that..,
Julian Reid not necessarily. I think there's a lot more to do with overthinking. Not executing because they're scared, not because they think they don't have to.
I come back from a 3 day school camp, tired and exhausted. First thing I do on my device is watch all the Valuetainment videos I missed.
I love your passion and great info-thanks for sharing!
watching this in 2020 and Pat hasn't changed a bit in his style and presentation. he is truly an extemporaneous speaker. Motivated
"...wait til we get a million subs."
Wait what? OH this video is old lol now you're at 1.2M! Great job!
This was very inspirational and educational video!! Thanks so much ! I wish your team the best health, wealth and happiness!
I'm going through week of entrepreneural depression even after being in business for 12yrs and your content is like an effective medicine, a lot of videos now doesn't make sense and luckily for me, whatever you say always nailed it every time ,thanks God, may He keep you &your family healthy always
Just saw this now! Excellent! You and the video on the bottom. That back a nice touch!
It seems like alot of success in Business is about the mentality and just doing it!
it is much harder to do nothing than at doing something in life because it leads you to wrong paths in life homeless, depression and more..
Dying laughing when he said "THE SMARTEST MAN IN THE ROOM QUIT!" *hits board* "Logical" lmaooooo
Zach Noegel I’m sorry to ask this, are we supposed to have emotions in decision making or not? I’m truly a bit confused.
The smartest guy left, best resume left too. There’s another guy that left the room too and those that remained own the company. Did the remaining people use both logic and emotions? Please help. Thanks 😊
@@kossieseii85 He means having passion for what you do emotion driven getting fired up and back on track the logical guy perhaps only looked at it from a numbers standpoint
😂😂😂😂. He's right tho. Life teaches harsh but it teaches best!
8:42 So valuable knowledge from PBD right there almost made me cry. I see nobody else talk about the importance of emotion in business, its crucial at times.
I just heard saw your video. but i heard every word you said it was great. can wait to hear more of your videos.. thank you
Damn! So much knowledge stuffed into this video.
Hi pat im 14 years old and a huge thank you for making these videos, they really help me understand different aspects of business and inspire me to be a young entrepreneur. I really wish the education system would teach things like this because it is so much more useful in later life than some of the things they teach at the moment.#squad
I love, love, love your videos!!! Awesome content!! Thank you!!!!
You're one of my many motivators. Keep it going. Great talk man.
This has been so helpful to me in my tutoring business. Thank you for helping to push all entrepreneurs to improve DAILY.
"Wait till we get a million sub..."
Now that's prophetic.
Thank you Valuetainment.
❤ From 🇳🇬🌍
Thank you so much for your great work. You gave me what I needed - mostly discipline and organization.
He's talking about humility. Pride comes before a crash.
What you should really say is: A crash comes after pride.
I feel guilty that i've wasted 21 yeas of my life time, studying false statements,
thanks for the great content sir, hats off!
Not to sure I'd go with the word "wasted" ... Did you get married? Have any kids? Having a rich life is a lot more than making money.
I'm so glad I'm being here with you from the beginning. I know what coming is a even a lot better.
HE IS SO RIGHT ON REGARDING THIS SUBJECT. IT TOOK ME A WHILE WHEN I FIRST STARTED WATCHING PAT TO EVEN FIND OUT HIS NAME. HE NEVER, NEVER BROADCASTED HIS NAME.... HE WANTS TO LEARN...TEACH...ETC... HIS INTERVIEWS ARE AMONG THE BEST ON TH-cam.
After this video smart people don't look so smart anymore
A lot of smart people are smart in their own area of expertise. Like smart people tend to follow careers that are mathematically and scientifically based. Like engineering, programming, Chemistry, and etc. But thats almost about it. They let their egos hinder them in growing and constantly developing as a person. Plus what I also learned about smart people is they tend to live in their own bubble like they think they are wasting their time if they don't associate with people that think of things the way they do. They tend to reject change and they like doing things their way even though it may be flawed. Like one smart person that became rich was Elon Musk. However he did not graduate from college, he was broke in the beginning, he learned to adapt to changes, and he risked majority of his money in creating all of his businesses. He was failing before he even made marginal profits.
Because this isn't really about people that are smart...
This video makes me want to work harder.
Awesome video. I love your style of teaching. Thank you.
Thank you Sir! A lot of lessons in just one video.
Love you, Pat! Your content is better than 2/4 years worth of college.
My brother in law, has this scenario when a fight is eminent. He ask his opponent: do you want to win or loose? Answer is: I want to win!!! So my brother in law by the way called A-iwan respond, ok you win and shake hand.... Fight over!!!!!0
Love your channel. Great information.
Great video!! I love the simplicity of your explanations ! Thanks Patrick
+Valuetainment message: Humble yourself, apply yourself to supply your wealth.
I'm borrowing that
Humble is the wrong word, imo.
I'd say, round every corner like it's potentially your last. Always look for your weak points, even if you're pretty sure there aren't any.
Be a little paranoid. Be on edge. Be ready for the 180 I.Q. monster to come in and start fucking your shit up.
It's not humility. It's knowledge that you can be taken down in a very quick hurry.
The sweet spot between confidence and caution is the key to success.
Stay Hungry, Stay Foolish.
I don't think becoming a successful entrepreneur is necessarily intelligence but character. Thanks Pat
C'mon gotta at least reference the guy who said that quote (Steve Jobs).
TOPSPOT who had a 160 IQ lol
Hey guys! Thanks for the videos, i really appreciate them. Learning from you every day from Nicaragua.
EXCELLENT! great video as always.
Anthony Bourdain said a really important thing about always considering yourself the least intelligent/knowledgeable person in the room. He was very right about that.
Most bosses are shitty leaders and crash businesses because they don't take blame and only credit. Worked with a lot of them.
Hard work vs smart work: only when you work hard can you find out spots to improve and work smarter. You will never be able to make work smarter unless you are willing to work. Starting with the thought of smart work means you want to avoid work, live from efforts of others and never know about your full abilities.
16:40, ‘wait till we get a million subs’
*now at over 2 mil subs.
- Proof in the putting
Good stuff brother.
I always appreciate you sharing.
You really hit me there. your team are great. Thank you.
Doesn't sound like a smart person. Sounds like an arrogant person. People who are really smart know the limits of their intellect.
@MegaSkilla HAVING A HIGH IQ DOESN'T NECESSARILY MEAN THE SAME THING AS BEING SMART, AND BESIDES THAT THERE ARE "DIFFERENT TYPES OF SMART/BEING SMART.
thanks Pat! great vídeo help me a lot :)
#squadnotifications
Thanks for the amazing advise
Love this video! I know that I've let some of those keep from getting where I want to be and this video helped me recognize it! Thanks for all of the value!!!
Man!?! This guy is beating crap out of that chalk board.
Squaaaad! thanks Pat.
Samuel Boateng here we go, thanks VT
+Samuel Boateng 🔥🔔💰
LOVE it Brother!!!
Keep up the outstanding work @Valutainment & PBD 👏💪😎
16:42 "... wait til we get to a millions subs..."
I am watching this in February 10th, 2020 and there are currently 1.92 mio subs.
Waiting finished. ;)
While it is generally accepted there are several "intelligences"; going forward, I will be focusing solely on IQ. Typically, when people refer to "smart" people they are referring to either education or IQ. The two are too often conflated. Anyone of normal intelligence can be educated. I prefer to use the standard use term because it is appropriate. (You're right, I am fond of rules.)
In fact, it is the concept that any person of normal intelligence can be educated which is at the heart of my quibble with your video's premise. I clicked to hear opinion regarding why and how the smart fail at business only, in fact, to hear why educated and previously successful people fail at business. None of the characteristics you describe are typically associated with "smart" people. Smart people beginning at the second standard deviation right of the normal curve; which is the designation for gifted beginning at a level of 132-135 on the Wechsler intelligence tests for adults and children. This represents approximately 2% of the population and is the minimum requirement for entry into MENSA (an international society of and for the smart).
Of those considered gifted (2%) or profoundly gifted (1%), it is typically the case that they underestimate their abilities rather than over estimate them according to studies. Further, many of the traits you recommend are attributed to the highly intelligent: (www.Business insider.com/8-common-traits-of-highly-intelligent-people-2016-7)
-highly adaptable
-able to admit ignorance
-insatiable curiosity
-open minded
-high self-control
-sensitive to other people's experiences
-very funny
-very individualistic
While I have only provided one reference and, admittedly, it is a lay reference; there are many studies readily available through any search engine which confirms this information.
So, it would seem someone didn't do their homework which would have prevented the sharing of completely erroneous information which appears to be (and this is just a guess) based on prejudicial beliefs generated by feelings of educational inadequacy.
Ordinarily, I would not have responded to such grossly incorrect information being shared by a self-proclaimed subject matter expert but one presumes people come to your channel to be educated and as you pointed out you have a sizable subscription base which is expanding. Let us stop the propagation of this particular brand of both ignorance an anti-intellectualism here. Shall we?
Absolutely right!
Well done.. Mr patrik
Thanks and appreciated. We learn alot from your channel
Your channel is unique and professional
Watching this 6 years later, and having been a Valuetainment follower for the last few years, is just prophetic. Practice, then preach. Keep up the great work guys!
Ah this are book smart people, not Einstein smart
I don't understand.
SeSe Einstein is business/life smart too (other than in quantum physics)
“Smart” meaning they performed well as measured by an improper standard.
Yea no street smart
Agree Einstein was a Millionaire and Back than a Million Dollars was worth way more than it is today
"Heated arguments that ended up turning into 3 babies afterwards" hehe :D
Pat you so right, to add to your presentation: I met people who became superstars in their field on a single idea and rode that for a decade only to become ego driven on that, a one shot wonder and got outdated but refuse to adapt and could not understand why their world was falling apart. I learned early in the Army to innovate, adapt, adjust and adapt which stills serves me today 5 decades later. Sometimes success come in small increments by adjusting and adaption and most of all humility, not ego.
Omg I watch your show a lot. I love how you know that it's important to not talked credit for someone else's idea. That's how my brother and I grew up... Giving credit where it's needed. Even if someone doesn't ask us where the thought or effort came from ..... Especially when they gave the credit to to the wrong person.... We stop that person and say " no, it not me. It's was .... Who came up with the idea"
For detailed notes and links to resources mentioned in this video, visit www.patrickbetdavid.com/smart-people-fail-in-business/
Very true. Though the number of smart people who have failed to succeed in business is greater than the number of people who are smart and succeeded - that's the point.
Bill gates,Steve jobs,Elon musk,Mark zuckerberg are smart peoples but they also worked really hard didn't they?
what about elon musk hes a really smart guy?
Hello, When will you post the information about the next contest to win a 1 on 1 coaching session with Patrick?
Thank you in advance. :)
+Ashesh Nepal don't base your chances of success just on anomalies. Base it off of a predictable trend that produces results.
19:08 Garryvee vs Tai lopez
haha yes, I thought the same! :D
Both are amazing though
The BEST and more brutally honest info ever. You're gonna blow up. I almost don't wanna share and keep this to myself 😉😉 share this w others than need that push. Fear has held me back from starting a business....no more. Love these vids. Please post a list of your books. You rock!!!!
Your lectures are a blessing. Keep up the great work.
But if you're actually smart you wouldn't make these mistakes.
Depends on smart what. What he means by smart isn’t socially smart, but book smart.
nothing is perfect
you ain't god
there are always blind spots
My intelligence transcends blind spots. I know how many hairs are currently growing on my arse and I can use my immense brain power to create a magnetic field that will arrange my arse hairs into intricate patterns. This is possible thanks to the iron-enriched cereal that I eat passing through my intestines and sticking to my arse hairs in the form of ferrous dingleberries. That is what I do when I poo, so imagine what I do when it's crunch time, bucko.
Thank you for this lesson!
Brilliant, raw truth on business - thanks!
"Why smart people fail"
Proceeds to describe people who are by no means smart.
Kind of felt that
Exaclty. Patrick displays insecurity about his own intelligence. It was very visible during the interview with Ray Dalio, who is truly smart and intelligent.
Some good advice. But your connection to smart people is completely wrong.
A. Dumb people do all those things also.
B. There are at least three other back breakers that will kill any business. i.e. accounting/spending, product knowledge, liabilities/insurance etc. … My point? Many business owners, some of which are smart, don't do a single thing on your list and still fail.
And let me take this opportunity to point out that if a person is truly smart they know most of these things already, have already learned these lessons from the many life experiences that most of your list is relevant to. People with a degree from a prestigious school do not qualify as smart people based on that fact alone. I'd say anyone that sits down at an interview and says, "You have to give me an executive position because that's what I went to school for.", is obviously a moron.
C. There are many successful people, smart and dumb, that are guilty of most, if not all, the things on your list
You could make all those points without making it a negative about a group. What if someone posted a video that was titled The Reasons Iranian People Fail in Business and used the exact same reasons you have, only before each point they say that this is a common characteristic of Iranian people's thinking.
The answer is obvious, you even say it in the beginning but then switch to smart people. It is not smart people you are talking about it is people who think they are smart but are actually not, and also unintelligent scholastic achievers that think scholastic achievement is the only way to gauge intelligence, and smart people that think being smart counts for something, which again exposes a pretty obvious limit to their intelligence.
Its crazy watching this and watching your newest videos and how you've accomplished most of the goals you've set.
Simple but very valuable content. Thanks for always doing great videos
#squad
+Micah Falde 💜🔔
I actually feel a little offended the title and thumbnail are misleading. Usually nerds always strive to improve and keep learning. The title should be mr. know it(Usually medicore IQ) all and not smart people( high IQ but can also be mr.know it all). EInstein, Aristotle, Bill Gates, Zucks (high IQ) are all curious people who keep learning.
No one knows Eisenstein's real IQ, its a myth; and i don't believe IQ is a real measure of intelligence, truth is i have no idea what it means to be intelligent, the nerd who works hard is just disciplined and determined, this has nothing to do with being smart in my honest opinion
Agreed. IQ cannot fully portray ones personal intelligence. Maybe book smarts, but really... if you can't think of things yourself and always use what you learn in a book to justify everything you do... you have a longggg way to go in the world before you are truly an intelligent individual. But then again... even intellect is ambigious.
yeah that's more creativity and vision. my creativity comes in sperts and writers block or "thinkers" block can become a hinderance, to where i'll feel not worth a damn, I think the people who are largely successful are very creative.
I don't like how you used nerd as a synonym for smart people. A smart person isn't necessarily a nerd.
Einstein was good, until he hit quantum physics
Patrick, your content is so powerful! Thank you from Brazil my friend!
Thanks for this learnings!👍
You talk too much, you could go straight to the point.
Bigger than " The Bible "? 😕
Real Allen Pope in the sense of how many pages it has?? that's how I perceived it
Exactly Jose
Thank you Pat Sir, for your wonderful knowledge you share with us. My wife and I have learnt so much about business and ourselves as people. We love watching your videos Pat. So inspirational and motivating:) Rezel & Jason from New Zealand
Extremely helpful information 👏👏
This video is on point! Great insight, I'm taking notes. Thanks for sharing