In this September 2018 Newsletter I’m going to mess with your mind… a little.
And rightly so.
For when it comes to wealth creation, personal psychology is paramount.
And most people miss that bit.
If fact, let me give you something to ponder... if you don’t already have the level of wealth you desire, you need to adjust your psychology.
That’s not to suggest there’s anything wrong with your current psychology… it’s perfect.
Perfect that is, for getting your current results.
If you desire better results, you’ll need better psychology, it’s that simple.
So, you may have heard about the ‘Marshmallow Experiments?’
In the late 1960’s, the Stanford University marshmallow experiment was a series of studies on delayed gratification. In these studies, children were offered a choice between one marshmallow immediately (a small reward now), or, if they waited a short time, say 15 minutes, they would get two marshmallows (a larger reward later).
The researchers found in follow-up studies, that the children who were able to wait longer, tended to have better life outcomes, of health, academic performance and others.
The implication is that those that practice delayed gratification, self-control if you will, do better in life.
And I’m not debating that. In fact, I agree, it’s a key factor to success in the right context. But some of you take the delayed bit, a bit too far!
Remember, you don’t have a contract to live forever you know... and any day could be your last!
So today, I wish to speak with you about the psychology of the early WIN.
That’s right... quick, small wins that move you along the road to your goal.
I taught this at an event I did called Leadership, where what you wish to do on a daily or weekly basis is achieve regular small outcomes; mini ‘wins’ if you will, that ultimately lead to your big outcome. Things like, the number of agents you contact, or offers you make, or presentations etc.
This builds serious momentum, energy and motivation to keep going.
Now to take that a step further, one of the strongest motivating ‘early wins’ you can achieve is actual small financial gains.
If you can see money actually coming into your bank account, the confidence that gives you sets your imagination aflame with possibilities. Suddenly you’re focused on your next small win, and then the next, and before long you look around and see a significant income stream you’ve developed, and dreams coming true.
So whilst I advocate your personal psychology has a lot to do with your results. I also believe, so too does your strategy.
Some wealth creation strategies take a long time, like the mostly passive, 20 or 30 year, negative-gearing plan. But seriously, who can wait that long?
Imagine the kids in the marshmallow experiment had to wait an hour, a day or a week? I wonder how that would have gone.
So, whilst I love Active Strategies to create wealth faster, each strategy has their pro’s and con’s.
When it comes to the personal psychology standpoint of the early win, this month’s Gift of the Month is definitely the best strategy I know right now.
... And if you’ve enjoyed this intro, be sure to watch my Video this month below.
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Enjoy this month’s newsletter below and I look forward to seeing at an event soon.
To Your Success.