Getting Results Requires Taking Imperfect Action
Getting results is unusual. Everyone wants results. The problem is that most people aren’t willing to do what it takes to get the results they want.
The most common hurdle is fear. We’re taught in government schools and in corporate jobs that when you make a mistake you are a failure. The truth is just the opposite.
“I have not failed. I’ve just found 10,000 ways that won’t work.” – Thomas A. Edison
If you want to become a successful investor (or a success at anything else) you have to give up the idea that mistakes are failures. You need to embrace mistakes, because that is the only way you will learn to be successful.
Take Imperfect Action
Now before you go out and make a bunch of crazy investments that tank your portfolio, you do need to take intelligent action. Don’t take blind action.
Intelligent action is not perfect, but is based on the best information available at the time. With this comes another danger to avoid – information overload, aka “analysis paralysis.”
A very common form of failure today is endless research to find the “perfect” plan. There is no perfect plan (from imperfect man, anyway), so countless people use research to hide from their fear of failure. Don’t do it.
My friend Jeff Nabers taught me what his business mentor taught him:
“Winners take imperfect action while losers are perfecting their plans”
The reason why people lose by perfecting their plans is they never get over their fear of failure and take action. Or if they do, by then it is too late.
Some due diligence is good in getting results you want. Remember, don’t take blind action. When you find a system that works because other people that are not “gurus” made it work, then learn the system and put it into action.
Being diligent is diving in and evaluating the big stuff without wasting time on insignificant details. Don’t sweat the small stuff, like the color of the background on this website or the occasional typo found in a training video. The small things will not help you reach your goals and are only distractions.
You will make some mistakes and mess things up a bit. That’s OK. Just learn from those mistakes and take imperfect action again until you get it right.
Practice the Power of Focus
Getting results will happen more quickly when you learn to focus on your desired outcome.
Life is full of distractions. It will take some discipline on your part to eliminate unimportant distractions so you can focus on the task at hand. You will be amazed at how productive you can be when you free yourself from distractions.
Set aside some time in your schedule to develop your investment action plan and then to execute it. You won’t need much time, but making it a daily habit will get it done more quickly and efficiently than trying to bite off big chunks once every week or two.
Remember Your Desired Outcome – Why Are You Doing This?
No one makes investments so they can look at a large number on a balance statement. What you will do with the wealth you earn and invest is the motivation for earning it and investing it in the first place. This is the outcome you wish to receive by saving and investing.
Does it give you freedom? Or do you want to leave an inheritance for your family? Do you want to use it for the good of others? Maybe you want to travel the world.
Whatever the reason it is critical that you identify your own reason for preserving and growing your wealth. Without a good reason you will not take the steps necessary to preserve and grow your wealth and ultimately you will fail.
Do this now so you can get the freedom and results you desire. It’s easier than you think, but you still have to take that first step to make it happen.
Nothing good happens by accident. Find your purpose, focus on it and use it as motivation to move forward, even when you don’t feel like it or you are unsure of what you are doing. That is how successful people make things happen.
Getting results is not always easy, but it is worth the effort in the end.
So let’s get started!
Or if you have already done that, congratulations!
Next, check out how you can invest smarter with alternative investments.