I recently met 8 inspiring individuals who went from zero to financially free and today I want to share with you one key takeaway that they commonly mentioned.
I also felt that this key takeaway is something that is extremely important.
This key takeaway may sound simple but it’s something that needs to be taken seriously. This is especially if you are starting out in investing, trying out a new strategy and don’t have much experience yet.
The key takeaway is to start small.
I know there is a common saying that you might have heard of and that is to “Go Big or Go Home” or maybe you’ve heard about the phrase “Take Massive Action”.
However, I think it’s better to take small steps before taking that leap.
You might have learnt driving before or have heard someone who have tried to learn driving.
I still remember my driving instructor scolding me thousands of times for the countless mistakes that I made.
Not forgetting another thousand more for the things that I forgot to do on the road.
Only after numerous number of lessons and driving hours on the road, I was finally able to pass my driving test on my second attempt.
It’s the same for people who wish to get their pilot license as well.
People need to clock that “experience time” before they can take the wheel and do more on the road.
It’s exactly the same when it comes to investing and I wouldn’t be able to emphasize more on it.
Whenever you’ve attended a course, or learnt a new investing strategy, always start small first.
Regardless of whether you’ve seen thousands of positive testimonials and great track records from the strategy you still need to start small.
That’s because it’s different for everyone and you need to clock that “drive time experience” before you know can take control of the wheel.
It’s important to remember this because people usually get extremely excited after learning something new and can have the tendency to act on emotions without considering to clock the experience time.
Once there were two lumberjacks who entered the finals of a yearly lumberjack competition.
One of them was a young and strong lumberjack while the other was an older experienced lumberjack.
To win the competition and the prize money of $100,000, it will be the person who chops down the most tress within a single day.
The competition began and the younger lumberjack set off to work straight away with all the knowledge that he had about chopping down trees.
With his strength and knowledge, he continuously chopped down tree after tree.
At different times of the day, the younger lumberjack would also hear silence from the older lumberjack’s side and this made his confidence of winning grow even stronger.
And so it was the time to announce the winner and both lumberjacks were standing on the stage.
The younger lumberjack looked exhausted from his effort while the older lumberjack strangely looked less tired.
The results came out.
The older lumberjack won.
The younger lumberjack stood there in shock as he taught he heard him resting during the competition.
It turns out that because of experience, the older lumberjack knew to take a break and sharpen his axe at different intervals of the day.
Without the experience and with knowledge alone, you will lose out.
Sometimes to the extent of you even losing your hard earned savings if you’re not patient with yourself.
Be patient, take your time, clock the experience, get the results and then scale up.
Once you have clocked the experience and start to see consistent results, only then should you scale up and take bigger steps.
It may take you months or even an extra year but the main thing crucial thing is to clock that “experience time”.
Ask yourself this the next time before you take a jump, “have I clock the experience time?”
Now take this idea mentioned from the people who have been there and use it in your own life.