It’s pretty easy to understand what makes people fail.
Failure is far less mysterious than success.
Here’s how to fail in 4 easy steps.
1. Don’t follow your passion
If you’re occupying your time doing something for the best hours of the day that doesn’t grab you… this is a sure recipe for failure.
If you’re not fascinated by what you do, then you’ll stop pushing forward to improve the person you can become.
Enthusiasm that has waned will dry up your ambition, your levels of persistence and your sense of fun.
What’s stopping you from spicing up what you do, or switching to something more fulfilling?
If it’s money you’re telling me, then you just haven’t worked on getting an alternative source of income established that will feed into your choices.
2. Don’t continually improve
Exceptional traders work on themselves as hard as they do their trading plans.
A practical guarantee of failure is if you decide to stagnate, and not improve your skills.
This month I’ve caught up with two members of our Mentor Program.
Both were on the brink of getting retrenched.
Both were happy about the prospect, and in no way fearful of what lies ahead for them.
They know that trading provides a buffer, so they don’t have to cower instead of standing strong.
The extra income flow that trading can provide for you gives you confidence, that’s for sure (and what a bubbly pleasure it is to know that I’ve helped contribute to their success).
3. Hang out with gits
The cretins are out there, and if you choose to hang out with them, you’ll become one of them.
4. Give up too easily
Money is magnetically attracted to effort.
If you don’t push forward, and shimmy your way past the problems that envelop that shiny new goal – that goal will become a lump of coal.
Failure offers unlimited leisure time, the sympathy of your friends, and the “I told you he/she couldn’t do it” comments from your relatives.
There are benefits to failing.
Just make sure you don’t get seduced by them.
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.