Life can always give us unexpected surprises. Sometimes a simple idea, perhaps thinking during a walk or in the shower, over time could turn into a successful business. Some people are born with particular behavioral characteristics that facilitate them during business development. In this video we will focus on the 3D rule that helps during the development of a business idea, intended as the creation of a product or service, or even the simple management of your personal investments.
1. Discipline
Discipline is a relevant part of goals in life that is worth having. When your hard earned money is at stake, it can be difficult for an investor or entrepreneur to keep control of the emotions and remain disciplined. It is imperative that every investor and entrepreneur have a business plan that contains all the details of what should be done in the best and worst case scenario. A written plan should take away any level of subjectivity from executing so that when your money doesn't do what you want, you don't make irrational decisions. Remember that your trading plan includes your strategies that have a proven fact (based on your convictions for example) that provides you with an advantage that develops over time. It's possible you will lose money, and you will suffer it that will happen, but overtime your discipline will pay off. There is a link between consistency and discipline. To be a successful investor and entrepreneur you have to show up yourself every day and educate yourself. Sometimes you will notice that what you think it's good for you, it's actually not good for you. In that case, discipline might take a negative connotation in your eyes. When in fact, if you can forgo immediate pleasure for the exchange of long term respect, discipline will mean love for yourself and your idea overtime.
2. Dedication.
Total and constant offering of oneself for an end. This is dedication. When you wake up every morning and are happy with what you did yesterday, and knowing that you will go and do the same thing again today and tomorrow; that's where our brain provides our project with that extra gear that allows us to learn a little more every day, and in the long term put ourselves in a position to be more competitive. In investments it is the same. We can't think of buying stocks or cryptocurrencies someday, and forget about it. Once created, the portfolio must be followed with dedication so that it can grow and perform over time.
3. Determination
Determination is the key for success when investing. Investing is nice and interesting, but it's not easy at all. There will be bankruptcies and there will be losses. There will be times when you lose faith in your strategy and skill, you will make investments that you shouldn't have made. Determination is understood as a force that burns within us and that allows us to keep our focus high and constant over time. Determination, for example, defeats discouragement when things get difficult and everything doesn't seem to work. Investing successfully is only possible if you don't give up; and determination can be your precious ally that helps you not to lose confidence in yourself and to try again until your investment turns into a successful investment.