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API JANUARY 2014
JANUARY 2014 API
The start of a new year is often a time for reflection, which
made me realise that I’ve lived long enough to stop
thinking about the past with regret, yet there are lots of
things I wish I’d known earlier in life. These would have made
me a better and wiser person and a more successful property
investor. Here are the nine things I wish I’d known about ‘then’.
¿ 1. BECOME THE PILOT OF YOUR LIFE
Everything changed for me when I learned that my thoughts
lead to my feelings, my feelings lead to my actions and my
actions lead to my results. This meant my inner world (my
thoughts and feelings) controlled my outer world (my actions
and results). The turning point was when I realised that I was
responsible for all the things, both good and bad, that happened
to me. I then became the pilot of my life and not a passenger.
And even if it’s not true, I know I act differently and my results
are better because I believe I’m responsible for everything that
happens to me.
¿ 2. KEEP YOUR EYE ON THE PRIZE
When I was young no one taught me about the reticular
activating system, that part of your brain that only lets you see
in your surroundings what you focus your thoughts on. It pretty
much always helps you to find what you’re looking for. Setting
goals and regularly reviewing them is one way to keep your
focus on what’s important and to help you take action that will
move you closer toward where you want to go.
¿ 3. YOUR ATTITUDE CHANGES YOUR REALITY
It’s the old “is the glass half full or half empty” story. When things
happen in life that we don’t like, we can either choose to see
them as a problem or as a solution waiting to be discovered. It
took me quite while to discover that if you change your attitude,
you actually change your reality. When you have a positive
attitude instead of a negative one, you start to see things and
viewpoints that were invisible to you before.
¿ 4. YOU MUST GIVE TO RECEIVE
As children we’re told that the joy is in giving rather than
receiving. But as we become adults, for many life becomes
about what we can get out of someone or something. However,
if you want to increase the value you receive (be it money, love,
kindness, opportunities), you have to increase the value you
give. Because over time what you get is in proportion to what
you give. While it would be nice to get something for nothing,
that seldom happens.
¿ 5. BE PROACTIVE RATHER THAN REACTIVE
There seem to be three types of people:
> Those who make things happen
> Those who watch what happens, and
> Those who sit and wonder “what just happened?”
Be in the first group and always be on the lookout
¿ 6. MAKE YOUR TIME COUNT
How often have you heard someone say: “time flies”? Indeed
it does, so use it wisely! Just as you’re careful about how and
where you invest your money, you should also be careful about
how you invest your time. The Pareto Principle says that 80 per
cent of the value we receive comes from just 20 per cent of what
we do with our time. So what things do you spend your time
doing that take a lot of energy yet deliver few results?
¿ 7. MISTAKES MEAN GROWTH
Sometimes negative experiences, mistakes and failures can be
even better than a success because they teach you something
new which another win could never teach you. However, we’re
often so driven to get things right that we fail to see the value
in the things we get wrong. Instead we spend our time wishing
we’d done it differently. Or not doing anything at all because
the fear of making mistakes paralyses us. If you get it wrong,
learn from your mistake and make it count by doing it differently
next time. One “failure” can – with time – help you create
¿ 8. DON’T WASTE YOUR TIME WORRYING
Most things you fear will happen never do. They’re just monsters
in your mind. And if they do happen then they’ll most likely not
be as bad as you expected. So now when confronted with a
challenge I put things into perspective by asking myself:
> What’s the worst that can happen?
> What’s the best possible outcome?
> What the most likely thing that’s going to happen?
So lighten up a bit. Time spent worrying is time that could be
spent identifying opportunities and taking action.
¿ 9. DON’T COMPARE YOURSELF TO OTHERS
When you compare yourself to others you let the outside world
control how you feel about yourself. Instead strive to become the
best you can be and look at how far you’ve come, what you’ve
accomplished and how you’ve grown.
We live in the best country in the world and at the best time
in history. Appreciate what you have and enjoy the journey of
life, because an attitude of gratitude is a simple way to make
yourself and those around you feel happy. API
9 things I wish
I’d known then
Director of Metropole Property Investment Strategists,
www.metropole.com.au . His books are available from
INVESTOR PSYCHOLOGY // MICHAEL YARDNEY
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