PART TWO: You win some..you LOSE some...

Again; this series is about making you aware of some of the common obstacles that arise on the journey to financial freedom. Unfortunately ‘warning you’ doesn’t make the journey any easier; however, I have learned that everyone needs to make and overcome their own ‘struggle’.
Obstacles are the best and sometimes only way to grow into the person you need to be in order to have wealth and freedom. So why tell you about them…? I too often see people QUIT in their journey due to obstacles so many others have chosen to overcome. I tell you in hopes that when you come across these obstacles in your own journey you don’t get discouraged and quit, so one day you can look back and go yes, that was necessary for my growth and move on!

So obstacle number TWO: Yes you will loose money on some deals gone bad.

It could be an investment or something that some friend told you about and you got sucked into the excitement of big $$$. Dollar signs in your eyes can cloud your vision and better judgment. Always ask those that are more experienced than you about deals or investments or opportunities that come your way. I did, it helped me evade a few money loosing situations. But not all…

In the beginning of my journey to Financial Independence… in my early twenties… when I was OPEN to any and all opportunities that came my way… I invested in a scam at the time I thought was a great opportunity. I invested $1500 dollars. Not a lot, but it was my savings at the time, all for the promise of four grande coming back. Sound good right!? Nope, I lost it all.

It was discouraging. But I was uneducated and rearing to go. Innocent mistake, but I did not let it stop me. I got EDUCATED. I invested my time and money into really LEARNING the “in’s and out’s” of money & investing so I could make wise decisions. It is imperative to make solid decisions based in FACT not emotion.

I will share our PERSONAL business & investing criteria in an upcoming BLOG...stay tuned for that!

Now when an investment goes south or a deal falls through it is typically 10 – 100x that much, but the ones that DO work out FAR out shadow the losses.

A great real life example of this is the gentleman who is now a Venture Capitalist. He gives money to those he thinks have a great idea that may pan out. MANY of his deals don’t work out…but when they DO….BOY oh BOY, do they ever work out! A few years back some boys came to him with the idea of this thing called GOOGLE, it impressed him. He took a calculated risk, knowing it MAY or MAY NOT work out.
It was his expertise and experience that made him able to become a venture capitalist, it taught him you will win some and lose some, but when you WIN, wow, you will win BIG! GOOGLE is just one of the many examples in his life that more than worked out any losses he has incurred.

I believe that more often than not people experience this particular obstacle in the beginning of their journey. Mainly because there is an excitement and impatience to getting where we want to go and achieve the dreams we hold in our heart. The paradigm shift that occurs when you realize you CAN actually achieve your dreams creates an emotional frenzy! It’s good, except that when

“Emotions go UP….Intelligence goes DOWN”.

That causes a lot of people to take others up on the “magic bullet” or Quick Money” or “Easy money fast” schemes or investments. And ANYONE who has created LASTING freedom for themselves KNOWS that it is a long term plan and sometimes slower than we would like. There is no magic bullet to the Lasting freedom Doug and I teach about.

Many people get sucked into jobs that pay a LARGE commission, I stock this up to the very same principal. Short term gratification may be BIG on big ticket items, but you still don’t have your freedom. There is always the next sale that must be made in order to maintain your lifestyle.

As long as you are diligent, seek counsel from those more experienced and actually listen you can minimize your losses! Never let loosing money scar you, bitter you or victimize you. It’s not the money’s responsibility, it’s YOURS!