They Think Positive
From time to time everyone fails, moves away from their goals, or becomes disappointed. But only those who do not give up on their goals can achieve success.
Almost every successful investor is a positive thinker. No matter how difficult the conditions are, they manage to look to the future with hope. Moreover, they do not stop improving and walking towards their goals even in the most adverse times. They don’t allow negative people or negative situations to divert them from their path. An average investor experiences dozens of small and big crises throughout his life.
Of course, we are not talking about a naive positivity here. A positive thought, strengthened and supported by knowledge, benefits everyone.
They Make Conscious Choices Towards Their Goals
Great investors and leaders make clear plans for their goals, and everything they do is directed towards that.
For example, Muhammad Ali, when he was a skinny boy, set his mind on becoming a heavyweight boxing champion and started working towards it. Warren Buffett was trying to accumulate capital by distributing newspapers with a profit of 1 cent each.
If we want to be successful, we must make sacrifices in this regard and all our steps must be directed towards this.
In particular, financial independence requires serious learning and practice. Saving can be learned, investing can be learned, but these skills do not come to you. You have to start somewhere. Then, it is necessary to constantly improve yourself.
We will either find a way or make a one.Hannibal
Goals Don’t Work Unless Taking Action
Successful investors and leaders “take action”. They must always move. They make and implement their decisions. Of course this requires a solid character.
You may owe a lot and you may not have invested yet. So you have to act now. Because the 100 dollars saved today is not just a piece of paper. It is a step for your new life that you are constantly improving.
“The best time to plant a tree was 20 years ago. The second best time is now.”A popular Chinese proverb.
Successful People Never Stop Learning
Studies have found two common characteristics of successful people. The first is that they work in many different jobs and take on various responsibilities as a child. The other is reading too many books.
Warren Buffett tells students who ask the secret of being a successful investor: “You should read 500 pages of books a day. Because knowledge is like compound returns. It increases exponentially. But I know that most of you will not do that. “
The Key to Success is Working Hard and Being Persistent
Investing is like a long-term marathon. In this way, you always learn, develop and mature. Successful investors never give up.
Jesse Livermore, despite three bankruptcies, continued to renew his system, take lessons, and work harder. When Tesla first went to America, he had to dig holes for two years, Michael Jordan was kicked out of the basketball team in high school, Einstein received an F in mathematics and did not receive acceptance from the university to become a researcher.
Many of life’s failures are people who did not realize how close they were to success when they gave up.Thomas A. Edison
Successful People Make Detailed Analysis and Search for the Facts
Famous investors attach great importance to details and work hard to get the facts. While most people forget their mistakes, they confront them and do detailed analysis.
“Plot out your mistakes on charts, study them, and write some additional rules in order to correct your mistakes and the actions that cost you money.”William O’Neil
“When the facts change I change my mind, what do you do sir?”John Maynard Keynes
Successful Investors Focus on Time and Money
Successful investors value their time very much. Being able to say no is their biggest weapon. They don’t let anything get in their way and distract them from their goals.
Focusing and saying no are important to achieving goals.
Success Often Requires Doing Things Different and Innovating
Most successful people have found new ways to do things more efficiently. Most of the time, they criticized the existing.
Sam Walton warns people to swim against the flow of the river, to go the opposite way of everyone’s heading, and to go against the general public belief. “If everyone is doing something the same way, you can find different things only by going in reverse.” he says.
John C. Bogle, who revolutionized the Fund Management industry with low-cost index funds, could not convince anyone when this idea came to his mind. Now, most of the savings in America are parked in low-cost S&P 500 index funds.
Successful People Inspire The Masses
Successful people set an example to others with their lives and words. They are a teacher, motivating coach or inspiration for the masses.
Warren Buffett’s letters to Berkshire Hathaway shareholders are read by millions.
Long-Term Success Requires Honesty and Solidity
Successful leaders are all honest, reliable, and responsible people. They never give up on their principles. Because these principles are the products of experience they have created to prevent them from making the same mistakes again.
Jesse Livermore has never taken a venture with all his money again after losing all his money twice. In addition, he has adopted the principle of cutting his losses after reaching a certain rate. Warren Buffett never invests in businesses he doesn’t know about.
Principles like these have saved the lives of investors.
If you want to get motivated have a look at these:
- YOU NEED TO KNOW THESE TO GET RICH
- A MOTIVATION POST FOR THOSE WHO WANT TO GET RICH
- WORK IN THE FIELD YOU WISH TO WORK IN
I urge you to read my WHY ACCOUNTING KNOWLEDGE IS NEEDED post.