Do You Make This Success Mistake?
This success mistake has cost me so much money that I'm almost embarrassed to tell you.
"So Mike, why are you telling me?"
Because I know that if you can steer away from this success mistake, it can help you improve your income and change your life. That's my goal.
Here's how this came about:
Yesterday, I was reading a book about investing from the very successful money manager Peter Lynch. Even though he was talking about 'investing', he zeroed in on a success principle that so many people miss.
I did…for 7+ years and it cost me a fortune. And it caused me a bunch of stress. What's so interesting is that Warren Buffett used this same success insight to become the 2nd richest person in the world.
Here's the deal:
I used to be so 'short-sighted' and wanted immediate gratification. If my new 'business idea' didn't work out in 30-60 days, I quit. Then I'd try something else and, after a week, I went onto something else.
This downward spiral happened for a while because I was 'ruled' by a short-term vision and the desire for immediate gratification. This is how 98% of the world operates. THIS is why only 2% of the world live their dreams.
Here's what Peter Lynch was saying and what Warren Buffet knows. Also, Michael Dell knows this, Bill Gates, Donald Trump, Oprah and others all know this.
One of the biggest 'secrets' to success is taking the LONG-TERM VIEW. (Let me say that again) One of the biggest 'secrets' to success is taking the LONG-TERM VIEW.
When Warren Buffett makes an investment, he's looking 5-15 yrs out, sometimes more. All great entrepreneurs understand that in order to WIN BIG they must take the long-term view. 3-years, 5-years, 15-years, 20-years+. You need to give yourself time for your idea or business to grow.
Most people never do this - it's unfortunate. AND…it's also never too late to start. You need to EXPAND your horizon. Change your perspective. You need to take the NEXT STEP today and keep in mind your long-term view. Not necessarily a specific long term goal, but a longer term VIEW.
There's a season for everything. Take the time to plant the seeds, water them, and be patient for your harvest. Stay disciplined. I know you can do it.
-- Mike Litman
Mike Litman is the author of the #1 Best-Selling book, Conversations With Millionaires. In the book 9 Millionaires share their strategies for becoming wealthy.
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