Lock it in, Eddie!

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Here in Aus we had a TV quiz show called "Who wants to be a millionaire?".

Answer 15 multiple-choice questions in a row and you win a million bucks.

Of course, the questions increase in difficulty each round so it's not as easy at it might seem. Often two or three of the options sound very plausible. In 1300+ episodes there were only 2 million dollar winners.

The show was hosted by a guy named Eddie McGuire. And once you chose your answer you'd say, "lock it in, Eddie" to confirm.

(The show was so popular this catch phrase was common in pop culture. You coming to the pub? Lock it in Eddie!)

Anyway, here's why I'm telling you all this...

Once someone locked in their answer, Eddie would always come back with a raised eyebrow and a response like, "Are you sure? Are you certain you want me to lock in B rather than D? A mistake here could cost you 32,000 dollars… is that your final answer?".

Suddenly the pressure is on.

A contestant who moments before was sure of their answer now has doubts.

Everything you've worked for so far comes down to this moment. Get it wrong and you lose more money than most people have ever seen at one time. Is he trying to help me or throw me off the right answer?

Hmmmm maybe he's right. D does kinda sound right.

Now, here's what's interesting:

This "lock it in, Eddie" mindset is how many people approach making decisions in their business.

Maybe they're trying to figure out which market to go into. Or what services they should offer. Or how much they should charge. Or one of a million other decisions you will have to make as an entrepreneur.

They build up the importance of their decision until it becomes too important to actually decide. Because to decide would be to lock it in and seal your fate.

But of course, this isn't a quiz show. There is no final answer.

You don't automatically lose if you don't choose the right answer first go.

And you can change your mind at any time you like.

So take the pressure off yourself. Approach everything as a test.

Make fast decisions and know as new information comes in you can adjust as you go.

Talk soon,

Kyle Tully