The 5 Biggest Mistakes Business Owners Make

The High Performance Playbook

Welcome to Edition 3 of the High Performance Playbook Newsletter! We’re closing in on 1,000 subscribers already and the feedback has been awesome - you guys rock.

If you’re new here, my name is Austin Wright, and I’m excited to bring you this playbook I’ve developed over the last decade. I’m a serial entrepreneur and Angel Investor, and I’ve built everything from 8-figure eCommerce brands to multi-unit brick-and-mortar fitness gyms to crypto hedge funds.

So, if you’re the kind of person who’s interested in health & fitness, personal finance & investing, business growth hacks, and how to turn it up in all areas of your life, the High Performance Playbook is for you.

Each week, we drop some gems covering the 4 pillars below:

  • Mindset & Psychology

  • Health, Fitness, & Longevity

  • Personal Finance & Investing

  • And Business

If you enjoy the content or got some value out of it, please share this link with a few friends and help me spread the word! There’s no better compliment than a referral.

Ready? Start your enginesLet’s GO:

Mindset & Psychology

Even the most successful people you know deal with imposter syndrome…

Ever heard of “imposter syndrome?” It’s a real thing and even the most successful people suffer from it. Putting yourself out there and posting on social media can bring up all the fears of feeling like an imposter.

Part of the problem is so many of us compare ourselves and our lives to what we see on social media. So, even if you’re a successful business owner, you see all these people doing “way” better than you online. Even if you’re a good parent, you see what “perfect parents” put online (cause it’s what they want the world to believe).

Look… the truth is, we all have value to share. We all have unique experiences, insights, and wisdom that we pick up along our journey. Some more than others, yes. But no matter what, if you’re good at what you do, chances are you can help others. And you gotta put yourself out there to do it.

Here’s how I’ve learned to silence imposter syndrome when it creeps up for me:

  • Keep a “proof” folder of wins, testimonials, and past successes. I keep mine in a journal, and I review it monthly.

  • Focus on the value you provide, not the doubts in your head.

  • Act first, and see how confidence follows. Action creates belief.

You’re not an imposter. You’re just leveling up. So, this is your sign to get out of your comfort zone and start sharing your unique abilities, talents, and knowledge with others.

Health & Fitness + Longevity

Let’s talk about biohacking for a minute… it’s a topic that’s been thrown around a lot in the personal development space.

Is biohacking overhyped?

First, What Exactly is “Biohacking?”

It can mean a lot of things, but here’s what it is:

Biohacking is the practice of using science, technology, and personal experimentation to enhance one's physical, mental, and emotional health and performance.

It often involves lifestyle and dietary changes, the use of wearable technology, supplements, genetic testing, and even unconventional methods like cold or heat exposure, fasting, and cognitive enhancers.

✅ The Enthusiasts’ Perspective:
Proponents argue that biohacking offers powerful tools to enhance energy, focus, longevity, and overall well-being. With wearable health devices and self-experimentation, people feel more empowered to take control of their health without relying solely on the traditional medical system.

❌ The Critics’ Perspective:
On the flip side, skeptics warn about the dangers of unregulated practices and the lack of solid scientific validation. The commercialization of these methods by influencers and companies often prioritizes profit over safety, leaving many to wonder if the movement is promoting more hype than real health benefits. “Cryo,” anyone?

📌 The Big Question:
As biohacking continues to grow in popularity, where should the line be drawn between effective health optimization and risky self-experimentation? And more importantly, how can we balance innovation with scientific validation and safety?

If you follow the smartest people in this field (like Dr. Andrew Huberman), you’ll know that there’s a LOT of recent science that shows massive benefits of things such as cold exposure, early morning sunlight, red light therapy, and more.

I'd love to hear your thoughts—do you think biohacking is the future of health optimization or just another passing trend?

We’re starting to incorporate recovery and biohacking in our gyms, and so far, people are loving it. Hit reply and let me know what you think.

Personal Finance Tip of the Week

The best investments aren’t obvious.

You need to find them before the market does.

Here is one of the top ways to determine if a product or service is worth investing in:

Look for “Painkiller” Products, Not Just “Vitamin” Products

The best businesses solve painful, urgent problems.

And often in the three main categories of:

  • Health

  • Wealth

  • Relationships

People will always pay for relief. If a product removes frustration, saves time, or makes money, demand will follow.

Ask yourself: Would people be upset if this product disappeared tomorrow?

Look at what people complain about online. The best businesses are built from frustrations.

Find a painkiller, not just a supplement. And if you’re looking at an investment, really dial it on what problem it’s solving and how well it’s doing that.

What's your primary focus for growing your wealth this year?

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Business Playbook

Most businesses fail because of avoidable mistakes.

Here are the 5 biggest mistakes I see owners and executives consistently make in business AND how you can avoid them:

1. They Focus on Ideas, Not Execution

Most people believe success comes from having the perfect idea.

Ideas are worthless without execution. Facebook wasn’t the first social network. Starbucks wasn’t the first coffee shop.

It wasn’t about the idea, it was about who executed better.

Stop waiting for a “million-dollar idea.” Pick a problem people will pay to solve, build an MVP (minimum viable product), and test it in the real world.

2. They Try to Do Everything Themselves

New founders think they need to wear every hat: marketing, sales, operations, and customer service. I am guilty of this myself!

This leads to burnout and slow progress.

You can’t scale a business if you’re stuck working in it instead of working on it.

Here’s what to do instead:

  • Automate or delegate low-value tasks (admin, customer support). Use VAs (here’s a great resource for that) or AI (ChatGPT should be your best friend by now).

  • Focus on your strengths. If you’re great at sales, don’t waste time coding your website.

  • Use the $10K Rule. If a task isn’t worth $10K/hour, someone else should be doing it.

3. They Ignore Sales and Marketing

People spend months perfecting a product, only to struggle to get a single customer.

A great product doesn’t sell itself. Without marketing, your business is a hidden treasure chest with no map.

Talk to customers early - Find out what they want before building.

Sell before you build - Pre-sell, validate demand, and adjust based on feedback.

Learn to market, even if you outsource later, you need to understand sales psychology.

4. They Chase Perfection Instead of Progress

They delay launching because it’s “not ready yet.”

Perfectionism is just fear in disguise. The longer you wait, the more likely you’ll never launch.

Launch ugly.

Your first version should be simple. Fix it after real users give feedback.

Set deadlines. A bad product in the market is better than a perfect one collecting dust.

Follow the 80/20 Rule. Focus on the 20% of tasks that drive 80% of the results.

5. They Give Up Too Soon

They expect overnight success and quit when it takes longer than they thought.

Every successful founder has a 10-year backstory no one talks about. Most people quit before their business has a chance to succeed.

Think in decades, not months. Build something that compounds over time.

Expect failures. Every mistake is a lesson. Adapt, adjust, and keep going.

Measure progress, not perfection. Growth isn’t linear. Focus on small wins.

Starting a business isn’t about having the perfect plan. It’s about learning, adjusting, and staying in the game long enough to win.

What's Your #1 Business Goal for Q2?

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Thanks for reading!

If you enjoyed this week’s newsletter, please share it with some friends! Let’s all get better together.

🗓️ STAY TUNED:

In next week’s newsletter, we’ll dive into what I call the 3-hour work day, an experiment I tried not too long ago, and the profound impacts it’s had on my life and business. Have a great week!

Here’s to your success,

Austin Lamar Wright
@WealthAthlete

P.S.

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Disclaimer: The ideas shared in this newsletter are those of the author, and this is in no way intended to be medical advice or financial advice. Always do your own research and consult with licensed professionals.

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