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Sep
21

So we all rolled over and one fell out

By Dean Letfus

That nursery rhyme reminds me that we often behave like sheep don’t we?
Going against the flow is often the most difficult thing to do because everything within us wants to find the path of least resistance.

We met with some friends today, one of whom trains some top runners and other athletes in Auckland. His partner is a great runner and she was commenting about her propensity for bad starts in sprints. A “bad” start is defined as lifting your head up early out of the blocks, which reduces your forward speed.

It was interesting that even though she practised it over and over and over again, and had a top trainer, when she got into a real race, her head would pop up early.

You see she was wired to do what was normal, what you and I would naturally do. If you start running fast you want to look up to see where you are going. But in a competition this will slow you down.

Well this is a perfect analogy for investing. We naturally want to do what everybody else does. What does everybody else do?? Well basically nothing but talk.
So we attend the seminars and get the education and get taught how to keep our heads down so we can get more forward speed. We play games and role plays until we get comfortable with keeping our head down. Then we get into our first real deal and we revert back to lifting our head up and slowing down.

How do we start to fight this??

Well firstly understand that what you have to do to succeed is NOT normal, NOT average, NOT the path of least resistance. It will require commitment, practise and perseverance.

It may NEVER GET EASY. It will get easier but you will always have to think, OK how do I get the best head start on this. How do I keep my head down and drive forward.

I buy lots of property because I look at a deal and I either buy it or I don’t, That decision is often made in less than 2 minutes. And I never revisit the decision. I’ve bought it now, lets get on. I own some great properties because I din’t wait. 5 minutes and they may have been gone.

You have to get to that place eventually if you are going to accelerate your success. Over analysis has killed many potential successful people and ideas.

Fear and subsequent lack of action has probably cost you a fortune already. You’ve listened to the voices in 2003 saying the boom was nearly at an end, then in 2004 you were warned to wait for the slump. 2005 it surely can’t continue, don’t buy anything now. 2006 we are definitely headed for trouble, not only don’t buy but sell what you’ve got.

In the meantime I have generated millions in equity by buying and buying and buying and never selling.

How long will you wait?? Till pos cashflow returns?? What if that occurs only after Jesus returns?? What will you be saying to yourself in 5 years when you could be retiring but instead you are hoping you don’t get made redundant??

Time to get control of your life, time to get control of your finances, time to……..
go and watch TV for the evening instead??? I pray not!!

Categories : Dean's Blog

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