One of the biggest fears all of us face every day is that we are not good enough. If you don’t believe me, let’s do a simple test here. Have you ever worried about that you are not good enough as one of the following:
A husband or wife? A father or mother? A boyfriend or girlfriend? A boss or manager? An employee or work colleague? A son or daughter? A friend? Etc…
If you are a normal person, the chance is that you would say ‘yes’ to one or many of the above. But who is the judge here to say that you are good enough or not?
I can hear some men say “my wife is definitely the judge as she constantly reminds me that I am not good enough.” I can also hear some women say “my husband is definitely the judge as he constantly reminds me that I am not good enough.”
Many people believe that other people (not themselves) are the judges for whether they are good enough.
Is this really true?
Let’s go along with the assumption that other people (rather than yourself) are the judges for whether you are good enough, and see what happens.
Let’s say your wife is the judge of whether you are good enough. It is only fair to assume that you are the judge of whether she is good enough, is it not?
Since you are the judge for whether your wife is good enough, you can simply decide that she is not good enough to judge whether you are good enough!
Can you see that you are always the judge for whether you are good enough? This is why whether we are good enough has nothing to do with others, it is simply a self judgment.
I know you would probably ask what this has got to do with property investing? A lot! Let me explain.
If you are a normal person who happens to become a property investor, the self judgment of whether you are good enough will be carried through to your property investing activities with or without your consent.
For example, if you have the tendency of worrying about whether you are good enough, you may experience the following two sides of the same coin:
– The upside is that you know that you need to improve, so you will be constantly learning and try something new; it is usually how we get started and get better in property investing.
– The downside is that you would probably not allow enough time and attention to make your existing strategies and systems work to their full potential – you may have taken away the momentum required to be financially successful because you keep changing things before they even make you any money.
Here are some downside examples:
Many investors have made solid money from some boring property and finance strategies they learnt at the beginning of their investing life, now they are chasing strategies that are a lot more fancier, as they feel that the old strategies are not good enough any more;
Many investors would only go to seminars to look for new information only, they believe new is better, and old information is not worth reviewing as they are not good enough. So they spend most of their time focusing on learning something new instead of understanding better what they already know so that they can put them to practice.
How do you know when you are good enough … and when you are not?
Let’s see a comparison between an Entrepreneur and an Investor.
A typical entrepreneur usually holds the attitude of ‘nothing is ever good enough’. They have the urge for innovation and always challenge the status quo. The entrepreneurial spirit is very important if you want to start something new or set new standards. Entrepreneurs value innovation and challenge over stability and consistency. They believe money is made.
A typical investor usually holds the attitude of ‘near enough is good enough’. They are more content with average historical performance and proven strategies. The investor’s spirit is very important if you want to allow systems and momentum to work for you. Investors value stability and consistency over innovation and challenge. They believe money is given.
Each one of us has both the entrepreneur and the investor inside of us, the entrepreneur always says that you are not good enough, the investor always says that you are.
The trick is knowing which one to listen to. My take is:
When you listen to the entrepreneur for too long, it is probably time to listen to the investor.
When you listen to the investor for too long, it is probably time to listen to the entrepreneur.So, are you good enough?
Bill Zheng is founder of Investors Direct Financial Group, a leading property finance company providing financial solutions for property investors and developers. Bill is a keynote speaker at many property and finance conferences throughout Australia.www.investorsdirect.com.au
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