Many professional thieves exhibit a curious behavior pattern — they follow the exact same methodology and rituals (modus operandi) every time they commit a theft. In fact, policemen even call them Modus Operandi (MO) criminals.
But this phenomenon is not limited to thieves — there are even MO entrepreneurs (I don’t mean this disparagingly).
Many serial entrepreneurs repeat what made them successful in the past. E.g., I know folks who made money in education — they keep starting more education ventures.
An entrepreneur who has figured out how to raise capital, build something quickly, and exit, will keep churning exits one after another.
We are creatures of habit.
But why is this relevant to us? Because it shows our strong bias to keep doing what has worked for us.
Sometimes, this helps us leverage our experience and avoid mistakes. But on other occasions, it becomes a mental block.
If you want to create wealth, ask yourself — “Am I missing out on opportunities just because they are unfamiliar? Do I keep gravitating only to things I know?”
Take advantage of your past but don’t let it become a prison. Learn new things, do unfamiliar stuff, and talk to people with different world views.
Your next big wealth-creation opportunity may be right in front of you — you shouldn’t miss out on it just because it isn’t familiar.
– Rajan