Many of us have heard the statistics stating that 95% of businesses fail in their first 5 years. Or, we know of people that keep losing on their investments. WHY? Although I believe there are many factors, the one that seems most likely to repeat itself is lack of education and discipline.
Even many that know what they should be doing lack the discipline to take productive action on that understanding. I have coached people that have a lot of knowledge, but lack the wisdom (knowledge properly applied) to make things work. I have seen “investors” be gamblers because they cannot control their own emotions and thoughts, and therefore rationalize why they should still do a particular trade/deal/business. Many will say, “Yes, I already know that, Chris, but teach me something new.” My response is “Yes, you may understand it, but you don’t get it.”
You MUST master your thoughts, words, actions, and emotions to be a great entrepreneur/investor. In a recent Time Magazine online Q&A, Robert Kiyosaki repeatedly answered questions reminding everyone that discipline is the key to success in investing, and the lack thereof creates failure. In the video interview, he even mentioned how military training has helped him be successful today.
In short, the only way to succeed in anything is discipline. Like in the military, set up a “code” to govern your actions, especially when life’s “bullets” are whizzing by your head.
MASTER YOUR LIFE BY MASTERING YOUR THOUGHTS, MONEY, TIME, AND EMOTIONS.
Tags: business tips, Financial Education, Financial Freedom, Investments, Money, Universal Laws of Wealth
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