This week’s Build a Legacy quote comes from the introduction pages and looks at “Fear” #BuildALegacy
Fear is probably the next most paralysing emotion that humans have nurtured over our evolutionary years. While it has protected us with fast responses when faced with man-eating lions, it debilitates us in our thinking, long after all these threats no longer exist.
We fear the outcome of our financial decisions; the prospect that the investment is not the right one; that we shall lose our hard-earned cash. Fear is petrifying and subordinates our higher thinking. We can logically work out the best-case and worst-case scenario in an investment. However, fear will bypass all the logical calculations and thinking and propel us to making no decision or using our feelings rather than our minds.
Our biggest fear in property investment is usually a loss of money and failure to realise our Return on Investment (ROI). This is a reality in almost every investment and risk analysis and projections always need to be there. We have, however, looked at how property investment is so much more forgiving than other asset classes.
It is important to note that most of what we consider as fear can rarely be justified even though it seems so real at the time. Mistakes are part of the learning and even though most people negatively interpret failure, it offers a window of opportunity to learn more about our trade and become more astute.
I have not come across anyone successful enough not to admit numerous failures in their trade, profession or skill. As a matter of fact, it is almost given that for you to succeed in a particular area, you will need to fail a large number of times. This gives you maturity; an understanding beyond the ordinary and experience that can only get better with time. Just like any other skill, the more you practice property investment, make mistakes, fail in some instances, the better you become as a property investor.
Over a period of time, you will realise that fear works for you rather than against you. You refine it, direct it and use it to your own advantage. It’s probably one of the biggest secrets for many successful people. It is not that they have no fear, but they know how to direct and channel fear with the constant application of their knowledge.
Don’t forget your journey to becoming a master property investor is only one book away be sure to get YOUR COPY today.